Hunt group discloses 92.2% Kelly Services (KELYA) Class B stake, seeks special committee

Rhea-AI Filing Summary

Hunt-affiliated entities report owning 3,039,940 shares of Kelly Services Class B common stock, representing 92.2% of that class. The shares are held with shared voting and dispositive power across several related entities, including Hunt Equity Opportunities, HEO Finance, Hunt ELP, HB GP, Hunt Company, Hunt Companies and individuals Woody L. Hunt and James Christopher Hunt.

The group has asked Kelly’s board to form a fully independent special committee, with its own advisers, to evaluate possible transactions between the company and affiliates of certain reporting persons. No proposal has been made, and the amendment stresses there is no assurance any transaction will be agreed or completed. Separately, James Christopher Hunt holds 25,000 Class A shares, awarded as compensation for his service as a non-employee director.

Insights

Governance & Activism Analyst

Hunt group’s 92.2% Class B stake and special committee request signal potential strategic negotiations but no defined deal.

The reporting group, led by various Hunt entities and individuals, discloses beneficial ownership of 3,039,940 Class B shares, or 92.2% of that class, with shared voting and dispositive power. This reflects effective control over the Class B equity base.

They have asked the board of Kelly Services to form an independent special committee, fully empowered to hire its own legal and financial advisers, to be ready to evaluate one or more potential transactions with affiliates of certain reporting persons. The text emphasizes that no proposal has been made and that there is no assurance any transaction will be approved or consummated.

The amendment also notes that James Christopher Hunt acquired 25,000 Class A shares on May 7, 2026 as director compensation, representing less than 1% of that class. Subsequent disclosures will be important for understanding whether discussions with the special committee lead to a concrete transaction structure, but this document itself stops at outlining possible paths.

Key Figures

Class B shares owned: 3,039,940 shares Class B ownership percentage: 92.2% J.C. Hunt Class A shares: 25,000 shares +3 more

6 metrics

Class B shares owned 3,039,940 shares Beneficially owned by each reporting person

Class B ownership percentage 92.2% Percent of Class B represented by 3,039,940 shares

J.C. Hunt Class A shares 25,000 shares Directly owned Class A, less than 1% of that class

Director grant date May 7, 2026 Date J.C. Hunt acquired 25,000 Class A shares as compensation

Reporting persons count 8 reporting persons Multiple Hunt entities plus two individuals listed

Letter date to board May 19, 2026 Date of letter requesting special committee (Exhibit 99.2)

Key Terms

Beneficially Owned, Special Committee, forward-looking statements, non-employee director, +1 more

5 terms

Beneficially Owned financial

"Number of Shares Beneficially Owned by Each Reporting Person With:"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Special Committee regulatory

"form a special committee of independent and disinterested directors (the "Special Committee")"

A special committee is a group of people chosen by an organization to carefully examine a specific issue or problem, often when a decision could have significant consequences. Think of it as a task force brought together to investigate and recommend actions, ensuring that important matters are handled thoroughly and fairly. For investors, this means decisions are made with careful oversight, which can impact the organization's stability and future direction.

forward-looking statements regulatory

"The Letter contains forward-looking statements that involve known and unknown risks"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

non-employee director financial

"as compensation for his service as a non-employee director of the Issuer"

Schedule 13D regulatory

"to amend and supplement the statement on originally filed with the Securities and Exchange Commission on January 30, 2026"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

KELLY SERVICES INC

(Name of Issuer)

Class B Common Stock, $1.00 par value per share

(Title of Class of Securities)

488152307

(CUSIP Number)

Kara Harchuck
Hunt Equity Opportunities, LLC, 601 N. MESA STREET
EL PASO, TX, 79901
312-799-3900

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

05/19/2026

(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).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

Hunt Equity Opportunities, LLC

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)

WC

5

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

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,039,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,039,940.00

11

Aggregate amount beneficially owned by each reporting person

3,039,940.00

12

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

13

Percent of class represented by amount in Row (11)

92.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

HEO Finance, LLC

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)

WC

5

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

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,039,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,039,940.00

11

Aggregate amount beneficially owned by each reporting person

3,039,940.00

12

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

13

Percent of class represented by amount in Row (11)

92.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

Hunt ELP, Ltd.

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)

WC

5

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

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,039,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,039,940.00

11

Aggregate amount beneficially owned by each reporting person

3,039,940.00

12

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

13

Percent of class represented by amount in Row (11)

92.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

HB GP, LLC

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)

WC

5

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

6

Citizenship or place of organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,039,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,039,940.00

11

Aggregate amount beneficially owned by each reporting person

3,039,940.00

12

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

13

Percent of class represented by amount in Row (11)

92.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

Hunt Company, LLC

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)

WC

5

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

6

Citizenship or place of organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,039,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,039,940.00

11

Aggregate amount beneficially owned by each reporting person

3,039,940.00

12

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

13

Percent of class represented by amount in Row (11)

92.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

Hunt Companies, Inc.

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)

WC

5

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

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,039,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,039,940.00

11

Aggregate amount beneficially owned by each reporting person

3,039,940.00

12

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

13

Percent of class represented by amount in Row (11)

92.2 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

Woody L. Hunt

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)

WC

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 0.00
8	Shared Voting Power 3,039,940.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,039,940.00

11

Aggregate amount beneficially owned by each reporting person

3,039,940.00

12

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

13

Percent of class represented by amount in Row (11)

92.2 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP Number(s): 488152307

1

Name of reporting person

James Christopher Hunt

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)

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 100.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 100.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

100.00

12

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

13

Percent of class represented by amount in Row (11)

0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

In addition to the Class B Common Stock reported herein, James Christopher Hunt directly owns 25,000 shares of Class A Common Stock of the Issuer, which constitute a separate class of securities not reported on this Schedule 13D.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class B Common Stock, $1.00 par value per share
(b)	Name of Issuer: KELLY SERVICES INC
(c)	Address of Issuer's Principal Executive Offices: 999 W BIG BEAVER RD, TROY, MICHIGAN , 48084.
Item 1 Comment: This Amendment No. 1 to the Schedule 13D is being filed pursuant to Section 13d-2 of the Securities and Exchange Act of 1934, as amended (the "Act") on behalf of Hunt Equity Opportunities, LLC, a Delaware limited liability company ("Hunt Opportunities"), HEO Finance, LLC, a Delaware limited liability company ("HEO Finance"), Hunt ELP, Ltd., a Texas limited partnership ("Hunt ELP"), HB GP, LLC, a Nevada limited liability company ("HB GP"), Hunt Company, LLC, a Nevada limited liability company ("Hunt Company"), Hunt Companies, Inc., a Delaware corporation ("HCI"), Woody L. Hunt ("Mr. W.L. Hunt") and James Christopher Hunt ("Mr. J.C. Hunt" and, together with Hunt Opportunities, HEO Finance, Hunt ELP, HB GP, Hunt Company, HCI and Mr. W.L. Hunt, the "Reporting Persons") to amend and supplement the statement on Schedule 13D originally filed with the Securities and Exchange Commission (the "SEC") on January 30, 2026 (the "Original Schedule 13D"). The Original 13D, as amended through the date of this amendment (the "Amendment") is collectively referred to herein as the "Schedule 13D." Capitalized terms used but not defined in this Amendment shall have the meanings set forth in the Original Schedule 13D.
Item 2.	Identity and Background
(a)	This Schedule 13D is being filed on behalf of Hunt Equity Opportunities, HEO Finance, Hunt ELP, HB GP, Hunt Company, HCI, Mr. W.L. Hunt and Mr. J.C. Hunt. HEO Finance serves as the sole member of Hunt Opportunities. Hunt ELP serves as the sole member of HEO Finance. HB GP serves as the general partner of Hunt ELP. Hunt Company is the majority limited partner of Hunt ELP. HCI is the sole member of Hunt Company. Mr. W.L. Hunt holds the majority voting power in HB GP and HCI. Mr. J.C. Hunt serves as a member of the board of directors and as the Chief Executive Officer of HCI.
(b)	The address of the principal office of (i) each of Hunt Opportunities, HEO Finance, Hunt ELP, HB GP, Hunt Company, HCI, Mr. W.L. Hunt and Mr. J.C. Hunt is 601 N. Mesa Street, Suite 1900, El Paso, Texas 79901 and (ii) the directors and executive officers of HCI named on Schedule I hereto (each, a "Scheduled Person" and collectively, the "Scheduled Persons") is listed thereon, which Schedule I is incorporated by reference herein.
(c)	The principal business of Hunt Opportunities is to serve as a holding company. The principal business of HEO Finance is to serve as a holding company. The principal business of Hunt ELP is to serve as a holding company. The principal business of HB GP is to serve as the general partner of Hunt ELP. The principal business of Hunt Company is to serve as a holding company. The principal business of HCI is to invest in real estate, other assets and related businesses. Mr. W.L. Hunt holds the majority voting power in HB GP and HCI. Mr. J.C. Hunt serves as a member of the board of directors and as the Chief Executive Officer of HCI.
(d)	None of the Reporting Persons, nor, to their knowledge, any of the Scheduled Persons, has during the last five years been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	None of the Reporting Persons, nor, to their knowledge, any of the Scheduled Persons, has during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Each of Hunt Opportunities, HEO Finance and HCI is organized under the laws of Delaware. Each of HB GP and Hunt Company is organized under the laws of Nevada. Hunt ELP is organized under the laws of Texas. Mr. W.L. Hunt, Mr. J.C. Hunt and each of the directors and executive officers named on Schedule I hereto is a United States citizen, which Schedule I is incorporated herein by reference.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 remains unchanged from the Original Schedule 13D and is incorporated herein by reference.
Item 4.	Purpose of Transaction
	Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and supplemented by adding the following: In addition to the Class B Common Stock reported on the cover page hereto, Mr. J.C. Hunt directly owns 25,000 shares of Class A Common Stock of the Issuer, representing less than 1% of the Class A Common Stock outstanding. Such shares were acquired by Mr. J.C. Hunt as compensation for his service as a non-employee director of the Issuer.
(b)	Item 5(b) remains unchanged from the Original Schedule 13D and is incorporated herein by reference.
(c)	Item 5(c) is hereby amended and supplemented by adding the following: In addition to the Class B Common Stock reported on the cover page hereto, on May 7, 2026, Mr. J.C. Hunt acquired 25,000 shares of Class A Common Stock of the Issuer as compensation for his service as a non-employee director of the Issuer.
(d)	Item 5(d) remains unchanged from the Original Schedule 13D and is incorporated herein by reference.
(e)	Item 5(e) remains unchanged from the Original Schedule 13D and is incorporated herein by reference.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 remains unchanged from the Original Schedule 13D and is incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 - Joint Filing Agreement, dated as of May 19, 2026, by and among Hunt Opportunities, HEO Finance, Hunt ELP, HB GP, Hunt Company, HCI, Mr. W.L. Hunt and Mr. J.C. Hunt. Exhibit 99.2 - Letter from James Christopher Hunt to the Board of Directors of Kelly Services, Inc., dated May 19, 2026.

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.

Hunt Equity Opportunities, LLC

Signature:	/s/ Kara Harchuck
Name/Title:	Kara Harchuck, Executive Vice President
Date:	05/19/2026

HEO Finance, LLC

Signature:	/s/ Kara Harchuck
Name/Title:	Kara Harchuck, Executive Vice President
Date:	05/19/2026

Hunt ELP, Ltd.

Signature:	/s/ Kara Harchuck
Name/Title:	Kara Harchuck, Executive Vice President
Date:	05/19/2026

HB GP, LLC

Signature:	/s/ Kara Harchuck
Name/Title:	Kara Harchuck, Executive Vice President
Date:	05/19/2026

Hunt Company, LLC

Signature:	/s/ Kara Harchuck
Name/Title:	Kara Harchuck, Executive Vice President
Date:	05/19/2026

Hunt Companies, Inc.

Signature:	/s/ Kara Harchuck
Name/Title:	Kara Harchuck, Executive Vice President
Date:	05/19/2026

Woody L. Hunt

Signature:	/s/ Paul Donnelly as Attorney-in-Fact of Woody L. Hunt
Name/Title:	Paul Donnelly, Attorney-in-Fact
Date:	05/19/2026

James Christopher Hunt

Signature:	/s/ Paul Donnelly as Attorney-in-Fact of James Christopher Hunt
Name/Title:	Paul Donnelly, Attorney-in-Fact
Date:	05/19/2026

FAQ

How much of Kelly Services Class B stock does the Hunt group report owning?

The Hunt-affiliated reporting persons collectively report beneficial ownership of 3,039,940 shares of Kelly Services Class B common stock, representing 92.2% of that class. Voting and dispositive power over these shares is shared among the related Hunt entities and individuals.

What did the Hunt group request from Kelly Services (KELYA) board of directors?

The reporting persons requested that the board form a special committee of independent and disinterested directors, fully empowered to hire its own legal and financial advisers, to discuss and evaluate possible transactions between Kelly Services and affiliates of certain reporting persons.

Have the Hunt reporting persons proposed a specific transaction for Kelly Services?

No specific transaction has been proposed. The amendment states that, as of its date, no Reporting Person has made a proposal regarding any potential transaction and notes there is no assurance any proposal or definitive agreement will ultimately materialize or be consummated.

What additional Kelly Services shares does James Christopher Hunt hold?

In addition to the reported Class B interest, James Christopher Hunt directly owns 25,000 shares of Class A common stock. The filing states these represent less than 1% of the Class A shares outstanding and were received as compensation for his non-employee director service.

When did James Christopher Hunt acquire his 25,000 Class A Kelly Services shares?

The document states that on May 7, 2026, James Christopher Hunt acquired 25,000 shares of Class A common stock as compensation for his service as a non-employee director of Kelly Services. This acquisition is separate from the large Class B stake held by the reporting group.

What risks or uncertainties does the filing highlight about potential Kelly Services transactions?

The text emphasizes significant uncertainty, noting there can be no assurance any proposal will be made, approved by the special committee, documented in a definitive agreement, or completed. It also highlights that forward-looking statements in the attached letter involve risks and uncertainties that may affect outcomes.