Jeffrey E. Eberwein Reports 512,514 HSON Shares, Warrants and Preferred

Rhea-AI Filing Summary

Amendment No. 6 to Schedule 13D reports that Jeffrey E. Eberwein became a beneficial owner of 512,514 shares of Hudson Global, Inc. common stock, representing approximately 14.6% of the outstanding common stock as of August 22, 2025. The filing explains this position resulted from the closing of a merger between Hudson and Star Equity Holdings, Inc., under which Star shares were converted into Hudson securities. At the effective time Mr. Eberwein received 188,686 shares of Hudson common stock, 1,182,414 shares of Hudson Series A Preferred Stock, 49,450 warrants to purchase common stock, and restricted stock units for both common and preferred stock. The filing states Mr. Eberwein did not conduct any other transactions in Hudson common stock in the prior 60 days.

Positive

• Material ownership disclosed: Reporting person beneficially owns 512,514 shares (~14.6% of common stock)
• Transparent merger consideration: Filing details receipt of 188,686 common shares, 1,182,414 Series A preferred shares, 49,450 warrants, and restricted stock units

Negative

• None.

Insights

Financial Analyst

TL;DR: Reporting person now holds a material 14.6% stake in HSON following the merger; filing discloses holdings and lack of recent trading.

The Schedule 13D/A documents a material ownership position resulting from a corporate merger rather than open-market purchases. The filing quantifies the position (512,514 common shares, ~14.6%) and details convertible instruments received, including 49,450 warrants and restricted stock units. For investors, this clarifies share count basis and immediate dilution from merger consideration already issued. The filing contains no new purchases or dispositions within 60 days and does not state any proposed transaction strategies.

M&A Specialist

TL;DR: The merger converted Star equity into Hudson common, preferred and warrants, materially changing ownership stakes.

The document provides transaction mechanics: Star shareholders received Hudson common at a 0.23 exchange ratio and Star preferred converted into Hudson Series A Preferred. For Mr. Eberwein this produced a mixed package of common shares, a substantial block of Series A preferred (1,182,414 shares), and exercisable warrants, indicating the merger consideration included both voting and non-voting economic instruments. This is a material post-merger ownership disclosure that may influence control dynamics and capital structure discussions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

Hudson Global, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

443787205

(CUSIP Number)

JEFFREY E. EBERWEIN
53 Forest Avenue, Suite 102
Old Greenwich, CT, 06870
475-988-2068

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/22/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 443787205

1

Name of reporting person

JEFFREY E. EBERWEIN

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 512,514.00
8	Shared Voting Power
9	Sole Dispositive Power 512,514.00
10	Shared Dispositive Power

11

Aggregate amount beneficially owned by each reporting person

512,514.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

* Includes 49,450 shares of common stock underlying immediately exercisable warrants ("Warrants") to purchase Hudson common stock. The Warrants were issued by Star (as defined below) and were exercisable for 215,000 shares of Star common stock, and following the closing of the Merger (as defined below) are exercisable for 49,450 shares of Hudson common stock. Excludes 118,464 share units under the Issuer's 2009 Incentive Stock and Awards Plan, as amended and restated, which are payable in shares of common stock up to 90 days following Mr. Eberwein ceasing to provide service to the Issuer and, therefore, are not considered to be beneficially owned. This also excludes 27,156 share units under the Issuer's Director Deferred Share Plan, which are payable in shares of common stock up to 90 days following Mr. Eberwein ceasing to provide service to the Issuer and, therefore, are not considered to be beneficially owned.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share
(b)	Name of Issuer: Hudson Global, Inc.
(c)	Address of Issuer's Principal Executive Offices: 53 Forest Avenue, Suite 102, Old Greenwich, CONNECTICUT , 06870.
Item 1 Comment: The following constitutes Amendment No. 6 to the Schedule 13D filed by the undersigned ("Amendment No. 6"). This Amendment No. 6 amends the Schedule 13D as specifically set forth herein.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Original Schedule 13D is hereby supplemented as follows: As of the closing of the Merger (as defined below), the Reporting Person individually received shares of Common Stock in exchange for his ownership interest in Star (as defined below), as described in Item 4.
Item 4.	Purpose of Transaction
	Item 4 of the Original Schedule 13D is hereby supplemented as follows: On May 21, 2025, Hudson Global, Inc. ("Hudson") entered into an Agreement and Plan of Merger, dated as of May 21, 2025 (the "Merger Agreement"), by and among Hudson, Star Equity Holdings, Inc. ("Star") and HSON Merger Sub, Inc., a wholly owned subsidiary of Hudson ("Merger Sub"). Upon the terms and subject to the conditions of the Merger Agreement, on August 22, 2025, at the effective time of the Merger (the "Effective Time"), Merger Sub merged with and into Star, with Star continuing as the surviving corporation of the Merger as a wholly owned subsidiary of Hudson. Pursuant to the terms of the Merger Agreement, at the Effective Time, (i) each share of common stock of Star issued and outstanding immediately prior to the Effective Time (other than certain shares as set forth in the Merger Agreement) were automatically converted into the right to receive 0.23 shares of Hudson common stock and (ii) each share of preferred stock of Star issued and outstanding immediately prior to the Effective Time (other than certain shares set forth in the Merger Agreement) were automatically converted into the right to receive one (1) share of Hudson 10% Series A Cumulative Perpetual preferred stock ("Hudson Series A Preferred Stock"). As a result of the Merger, former Star common stockholders will receive approximately 744,291 shares of Hudson common stock for their Star common shares and former Star stockholders will receive approximately 2,690,637 shares of Hudson Series A Preferred Stock. No fractional shares of Hudson common stock were issued in the Merger, and Star stockholders became entitled to receive cash in lieu of fractional shares in accordance with the Merger Agreement. At the Effective Time, the Reporting Person received in exchange for his ownership interest in Star (i) 188,686 shares of Hudson Common Stock, (ii) 1,182,414 shares of Hudson Series A Preferred Stock, (iii) 49,450 warrants to purchase Hudson Common Stock, (iv) 1,415 restricted stock units each representing the right to receive, at settlement, one share of Common Stock, and (v) 1,720 restricted stock units each representing the right to receive, at settlement, one share of Hudson Preferred Stock.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a)-(c) is hereby amended and restated in its entirety as follows: The aggregate percentage of shares of Common Stock reported owned by the Reporting Person is based upon 2,755,335 shares of Common Stock outstanding as of July 25, 2025, which is the total number of shares of Common Stock outstanding as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025, filed with the SEC on August 8, 2025, plus approximately 744,291 shares of Common Stock issued pursuant to the Merger, as reported in the Issuer's Current Report on Form 8-K filed with the SEC on August 22, 2025. As of the close of business on August 22, 2025, Mr. Eberwein beneficially owned 512,514 shares of common stock. Percentage: Approximately 14.6%
(b)	1. Sole power to vote or direct vote: 512,514 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 512,514 4. Shared power to dispose or direct the disposition: 0
(c)	Except as described herein, the Reporting Person has not engaged in any transaction with respect to the Common Stock during the sixty days prior to the date of filing this Amendment No. 6.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

JEFFREY E. EBERWEIN

Signature:	/s/ Jeffrey E. Eberwein
Name/Title:	Jeffrey E. Eberwein
Date:	08/22/2025

FAQ

What stake in Hudson Global (HSON) does Jeffrey E. Eberwein report?

The filing reports Mr. Eberwein beneficially owns 512,514 common shares, representing approximately 14.6% of Hudson's common stock as of August 22, 2025.

How did Mr. Eberwein acquire his Hudson (HSON) position?

His position resulted from the closing of a merger between Hudson and Star Equity Holdings, where Star equity was converted into Hudson securities under the Merger Agreement.

What specific securities did Mr. Eberwein receive in the merger?

He received 188,686 shares of Hudson common stock, 1,182,414 shares of Hudson Series A Preferred Stock, 49,450 warrants to purchase common stock, and restricted stock units for common and preferred stock.

Does the filing report recent transactions in HSON common stock by Mr. Eberwein?

No; the filing states Mr. Eberwein has not engaged in any transactions in Hudson common stock during the 60 days prior to the filing of this Amendment No. 6.

What share count did the filing use to calculate the 14.6% ownership?

The percentage is based on 2,755,335 shares of common stock outstanding as of July 25, 2025, plus approximately 744,291 shares issued in the merger.