Quest Resource (QRHC) insider files Form 4 showing 112,585 shares held

Rhea-AI Filing Summary

Reporting person: Stephen A. Nolan, a director of Quest Resource Holding Corp (QRHC). The Form 4 reports a transaction dated 09/30/2025 in which the reporting person acquired 2,243 deferred stock units (DSUs) tied to common stock at an indicated price of $1.56. The filing shows the reporting person beneficially owns 112,585 shares in total, composed of 63,657 DSUs from the 2012 plan, 16,066 DSUs from the 2024 plan, 20,000 RSUs that vest August 13, 2026, and 92,585 shares of common stock (5,000 jointly held with spouse). DSUs will be issued upon separation from service.

Positive

• Director received 2,243 DSUs, aligning incentives with shareholder value through equity-based compensation
• Clear disclosure of total beneficial ownership (112,585 shares), including breakdown of DSUs and RSUs

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received DSUs increasing deferred ownership; holdings disclosed but not clearly material to market.

The filing documents a director-level grant/acquisition of 2,243 deferred stock units on 09/30/2025 at a listed price of $1.56, adding to an aggregate beneficial position of 112,585 shares including vested stock and RSUs. This disclosure clarifies insider alignment with equity compensation programs and the timing of issuance (upon separation). There is no information here about changes in control, pledging, sales, or any derivative instruments that would materially alter capital structure.

Corporate Governance Expert

TL;DR: Standard insider disclosure showing compensation via DSUs and outstanding RSUs; governance implications are routine.

The Form 4 lists deferred stock units granted under the issuer's 2012 and 2024 Incentive Compensation Plans and 20,000 RSUs scheduled to vest in 2026. The DSUs convert to shares only upon the reporting person's separation from service, which is a customary design for director compensation. The filing was executed by an attorney-in-fact and contains no atypical governance events such as resignation, director-level transfers, or related-party transactions.

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

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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).

1. Name and Address of Reporting Person^*

Nolan Stephen A

(Last) (First) (Middle)

C/O QUEST RESOURCE HOLDING CORP

3481 PLANO PARKWAY

(Street)

THE COLONY TX 75056

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Quest Resource Holding Corp [ QRHC ]

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)
09/30/2025

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	09/30/2025		A		2,243(1)	A	$1.56	79,723(2)	D
Common Stock								112,585(3)	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. These reported securities represent deferred stock units ("DSUs") granted under the Issuer's 2024 Incentive Compensation Plan. The shares of common stock underlying such DSUs shall be issued upon the Reporting Person's separation from service with the Issuer.

2. The reported securities include (a) 63,657 DSUs granted under the Issuer's 2012 Incentive Compensation Plan and (b) 16,066 DSUs granted under the Issuer's 2024 Incentive Compensation Plan. The shares of common stock underlying such DSUs shall be issued upon the Reporting Person's separation from service with the Issuer.

3. Includes (a) 20,000 RSUs that are scheduled to fully vest on August 13, 2026 and (b) 92,585 shares of common stock beneficially owned by the Reporting Person, of which 5,000 are held jointly by the Reporting Person and his spouse.

	/s/ Brett W. Johnston, as Attorney-in-Fact	10/01/2025
	** 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.
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FAQ

What did QRHC director Stephen A. Nolan report on Form 4?

The form discloses an acquisition of 2,243 deferred stock units (DSUs) on 09/30/2025 and total beneficial ownership of 112,585 shares.

When will the DSUs reported by QRHC be converted into common stock?

The filing states the shares underlying the DSUs shall be issued upon the reporting person's separation from service.

How many RSUs does Stephen A. Nolan hold and when do they vest?

The filing shows 20,000 RSUs that are scheduled to fully vest on August 13, 2026.

Does the Form 4 show any sales or dispositions by the reporting person?

No. The Form 4 shows an acquisition of DSUs and lists existing beneficial holdings; it does not report any sales or dispositions.

Are any of the reported common shares jointly held?

Yes. Of the 92,585 shares of common stock beneficially owned, 5,000 are held jointly with the reporting person's spouse.