[Form 4] Hudson Global, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Todd Michael Fruhbeis, a director of Hudson Global, Inc., was granted 7,012 Restricted Stock Units on 09/09/2025. Each unit represents the right to receive one share of common stock at settlement on the first anniversary of the grant date. The grant was recorded at a price of $0 and increases the reporting person’s beneficial ownership to 9,622 shares following the award. The Form 4 was signed by an attorney-in-fact on 09/11/2025 and identifies the reporting person’s address as c/o Star Equity Holdings, Inc., Old Greenwich, CT.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant aligns incentives but is not a materially transformative event for shareholders.

The Form 4 shows a standard issuance of 7,012 Restricted Stock Units to a director under the company’s long-standing equity plan. RSUs payable in common stock on the first anniversary are typical compensation practice to foster long-term alignment without immediate dilution of voting shares. The grant was recorded at $0 on the Form, which reflects that the award is non-cash compensation rather than an open-market purchase. This disclosure is important for transparency about insider holdings, but in isolation it does not indicate a major change to corporate strategy, capital structure, or control.

Securities Analyst

TL;DR: Insider received a non-cash equity award; impacts insider ownership disclosure but likely immaterial to valuation.

The filing reports the addition of 7,012 RSUs, bringing the reporting person’s total beneficial ownership to 9,622 shares. Because the units convert to one share each on vesting and were granted as compensation, they represent potential future dilution when settled. The disclosure of the grant date and vesting on the first anniversary provides clarity on timing of issuance. Absent other material transactions or larger-scale equity programs disclosed, this single RSU grant is routine and generally neutral from a market-impact perspective.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Fruhbeis Todd Michael

(Last) (First) (Middle)

C/O STAR EQUITY HOLDINGS, INC.

53 FOREST AVENUE, SUITE 102

(Street)

OLD GREENWICH CT 06870

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Hudson Global, Inc. [ STRR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	09/09/2025		A		7,012(1)	A	$0	9,622	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 7,012 Restricted Stock Units credited to the Reporting Person's account under the Issuer's 2009 Incentive Stock and Awards Plan, as amended and restated. Each Restricted Stock Unit represents the right to receive, at settlement, one share of Common Stock payable upon the first anniversary of the Grant Date. The number of Restricted Stock Units granted was determined using the closing price on September 9, 2025.

Remarks:

	/s/ Hannah Bible, as Attorney-in-Fact for Todd Fruhbeis	09/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Hudson Global report on this Form 4?

The company reported a grant of 7,012 Restricted Stock Units to director Todd Michael Fruhbeis on 09/09/2025.

How many shares will the 7,012 Restricted Stock Units convert into?

Each Restricted Stock Unit represents the right to receive one share of common stock at settlement, payable on the first anniversary of the grant date.

What is the reporting person’s total beneficial ownership after the transaction?

The Form 4 reports 9,622 shares beneficially owned following the reported transaction.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Hannah Bible as Attorney-in-Fact for Todd Fruhbeis on 09/11/2025.

Under what plan were the Restricted Stock Units granted?

The RSUs were credited under the issuer’s 2009 Incentive Stock and Awards Plan, as amended and restated.