Limbach director buys 7,820 shares in open market

A Limbach Holdings director and an affiliated fund reported open‑market purchases totaling 7,820 LMB shares around $49–51 per share.

Rhea-AI Filing Summary

Limbach Holdings, Inc. (LMB) had director Joshua Horowitz and affiliated Palm Global Small Cap Master Fund LP report open-market purchases of an aggregate 7,820 shares of Common Stock on September 11 and September 15, 2026.

Horowitz bought shares directly, while additional shares were purchased indirectly through Palm Global, at prices generally between $48.88 and $51.25 per share. Palm Management (US) LLC and Horowitz may be deemed beneficial owners of Palm Global’s shares but expressly disclaim beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary

Net Buyer: 7,820 shares

Net Buy 5 txns

Insider Horowitz Joshua, Palm Global Small Cap Master Fund LP

Role Director | Insider

Bought 7,820 shs ($391K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	212	$50.66	$11K
Purchase	Common Stock F3, F1	3,346	$50.6069	$169K
Purchase	Common Stock F1	662	$51.25	$34K
Purchase	Common Stock	1,000	$49.59	$50K
Purchase	Common Stock F2, F1	2,600	$49.0097	$127K

Holdings After Transaction: Common Stock — 43,997 shares (Direct); Common Stock — 171,208 shares (Indirect, Palm Global Small Cap Master Fund LP)

Footnotes (3)

1. F1. Palm Management (US) LLC, as the investment manager of Palm Global Small Cap Master Fund LP ("Palm Global"), may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Due to his positions as a portfolio manager and special limited partner of Palm Global and as an employee of Palm Management (US) LLC, Mr. Horowitz may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Palm Management (US) LLC and Mr. Horowitz expressly disclaim such beneficial ownership except to the extent of their pecuniary interest therein.
2. F2. The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $48.88 to $49.745 per share. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.
3. F3. The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $50.21 to $51.17 per share. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

Key Figures

Total shares purchased: 7,820 shares Direct purchase September 11, 2026: 1,000 shares at $49.59 per share Direct purchase September 15, 2026: 212 shares at $50.66 per share +3 more

6 metrics

Total shares purchased 7,820 shares Aggregate net purchases reported for September 11 and 15, 2026

Direct purchase September 11, 2026 1,000 shares at $49.59 per share Common Stock bought directly by Joshua Horowitz

Direct purchase September 15, 2026 212 shares at $50.66 per share Common Stock bought directly by Joshua Horowitz

Indirect purchase September 11, 2026 2,600 shares at $49.0097 per share Weighted-average price for Palm Global purchases, range $48.88–$49.745

Indirect purchase September 15, 2026 3,346 shares at $50.6069 per share Weighted-average price for Palm Global purchases, range $50.21–$51.17

Additional indirect purchase September 15, 2026 662 shares at $51.25 per share Common Stock purchased indirectly through Palm Global

Key Terms

weighted average price, beneficial owner, pecuniary interest

3 terms

weighted average price financial

"The price reported represents a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial owner financial

"may be deemed to be a beneficial owner of the shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

pecuniary interest financial

"disclaim such beneficial ownership except to the extent of their pecuniary interest"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did LMB director Joshua Horowitz report in this Form 4?

He reported open-market purchases of Limbach Holdings common stock on September 11 and 15, 2026, including both direct holdings in his name and indirect holdings through Palm Global Small Cap Master Fund LP.

How many Limbach Holdings (LMB) shares were bought in total?

The reporting persons disclosed purchases totaling 7,820 shares of Limbach Holdings common stock, according to the filing’s transaction summary for the reported dates.

What prices were paid for the LMB shares in these transactions?

Reported prices per share ranged from about $48.88 to $51.25. Direct purchases were at $49.59 and $50.66; indirect Palm Global purchases used weighted-average prices of $49.0097, $50.6069 and $51.25, with ranges disclosed in the footnotes.

Who is Palm Global Small Cap Master Fund LP in relation to LMB?

Palm Global Small Cap Master Fund LP is an affiliate of director Joshua Horowitz. Palm Management (US) LLC manages Palm Global and, along with Horowitz, may be deemed a beneficial owner of Palm Global’s shares, but they disclaim beneficial ownership except for their pecuniary interest.

Were the LMB purchases made under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5‑1 checkbox is not marked as an affirmative plan, indicating these reported purchases are not affirmed as being made under a Rule 10b5‑1 trading plan.

Does the Form 4 show any Limbach Holdings (LMB) share sales?

No. The transaction summary shows five purchase transactions totaling 7,820 shares and no reported sales or other dispositions during the period covered.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/15/2026 - 07:22 PM Accepted by SEC EDGAR 09/15/2026 - 07:21 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Horowitz Joshua

(Last) (First) (Middle)

C/O PALM MANAGEMENT (US) LLC

19 WEST ELM STREET

(Street)

GREENWICH CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Limbach Holdings, Inc. [ LMB ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2026

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

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

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

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	09/11/2026		P		1,000	A	$49.59	43,785	D
Common Stock	09/11/2026		P		2,600	A	$49.0097(2)	167,200	I	Palm Global Small Cap Master Fund LP(1)
Common Stock	09/15/2026		P		212	A	$50.66	43,997	D
Common Stock	09/15/2026		P		3,346	A	$50.6069(3)	170,546	I	Palm Global Small Cap Master Fund LP(1)
Common Stock	09/15/2026		P		662	A	$51.25	171,208	I	Palm Global Small Cap Master Fund LP(1)

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

1. Name and Address of Reporting Person^*

Horowitz Joshua

(Last) (First) (Middle)

C/O PALM MANAGEMENT (US) LLC

19 WEST ELM STREET

(Street)

GREENWICH CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Palm Global Small Cap Master Fund LP

(Last) (First) (Middle)

C/O PALM MANAGEMENT (US) LLC

19 WEST ELM STREET

(Street)

GREENWICH CONNECTICUT 06830

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. Palm Management (US) LLC, as the investment manager of Palm Global Small Cap Master Fund LP ("Palm Global"), may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Due to his positions as a portfolio manager and special limited partner of Palm Global and as an employee of Palm Management (US) LLC, Mr. Horowitz may be deemed to be a beneficial owner of the shares of common stock disclosed as directly owned by Palm Global. Palm Management (US) LLC and Mr. Horowitz expressly disclaim such beneficial ownership except to the extent of their pecuniary interest therein.

2. The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $48.88 to $49.745 per share. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

3. The price reported represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $50.21 to $51.17 per share. The Reporting Persons undertake to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price.

	/s/ Joshua Horowitz	09/15/2026
	PALM GLOBAL SMALL CAP MASTER FUND LP, by Palm Global Small Cap Fund GP, Ltd., its general partner, by Palm Management (US) LLC, its investment manager, /s/ Joshua S. Horowitz, Director	09/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)