Quest Resource (QRHC) Director Reports 20,000 Restricted Stock Units

Rhea-AI Filing Summary

Robert J. Lipstein, a director of Quest Resource Holding Corp (QRHC), reported acquisition activity tied to restricted stock units. The Form 4 discloses that on 08/13/2025 he was issued 20,000 RSUs that convert one-for-one into common stock and are scheduled to fully vest on 08/12/2025. Following the reported transaction the filing shows beneficial ownership of 22,500 shares, which the filer explains includes 20,000 RSUs scheduled to vest on 08/13/2026 plus 2,500 shares of common stock owned outright. The filing was signed by an attorney-in-fact on 08/14/2025.

Positive

• Director disclosed equity compensation in the form of 20,000 RSUs, with explicit one-for-one conversion to common stock.
• Beneficial ownership quantified at 22,500 shares, with clear breakdown of 2,500 owned shares and RSUs included in totals.
• Clear vesting timelines provided (RSUs scheduled to fully vest on 08/12/2025 and 08/13/2026), improving transparency for investors.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director reported RSU awards increasing potential share count by 20,000; current report appears routine and non-dilutive until vesting.

The Form 4 documents an equity award in the form of restricted stock units that convert one-for-one to common shares upon vesting. The filing clarifies timing: 20,000 RSUs vesting on 08/12/2025 (noted in the transaction row) and an additional 20,000 RSUs listed as scheduled to fully vest on 08/13/2026 included in beneficial ownership calculations, plus 2,500 directly held shares. This is a standard executive/director compensation disclosure rather than an open-market purchase or sale. For investors, the immediate dilutive impact is contingent on future vesting and conversion; no exercised options or sales are reported.

Corporate Governance Expert

TL;DR: Disclosure reflects routine director equity compensation; filing is timely and details vesting schedules and ownership.

The statement identifies the reporting person as a director and discloses restricted stock units with clear vesting dates and conversion terms (one-for-one). The Form 4 includes both the RSU grant information and the reporting person's present beneficial ownership amount of 22,500 shares, separating vested shares from contingent RSUs. The filing appears compliant with Section 16 reporting requirements and provides the necessary specificity on amounts and vesting timing.

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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X

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^*

Lipstein Robert J

(Last) (First) (Middle)

1661 WORTHINGTON ROAD

SUITE 100

(Street)

WEST PALM BEACH FL 33409

(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)
08/13/2025

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	08/13/2025		A		20,000(1)	A	(2)	22,500(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. Represents restricted stock units ("RSUs") granted on August 12, 2024 and scheduled to fully vest on August 12, 2025. Each RSU represents a contingent right to receive one share of common stock upon vesting.

2. RSUs convert into common stock on a one-for-one basis.

3. Includes (a) 20,000 RSUs that are scheduled to fully vest on August 13, 2026 and (b) 2,500 shares of common stock beneficially owned by the Reporting Person.

	/s/ Brett W. Johnston, as Attorney-in-Fact	08/14/2025
	** 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 Robert J. Lipstein report on the Form 4 for QRHC?

The Form 4 reports an acquisition of 20,000 RSUs on 08/13/2025 that convert one-for-one into common stock and a total beneficial ownership of 22,500 shares.

How many shares does the filing show Lipstein beneficially owns after the transaction?

The filing shows 22,500 shares beneficially owned, which includes 20,000 RSUs and 2,500 shares owned outright.

When do the RSUs reported in the Form 4 vest?

The statement explains 20,000 RSUs granted on 08/12/2024 are scheduled to fully vest on 08/12/2025, and notes another 20,000 RSUs scheduled to fully vest on 08/13/2026.

Does the Form 4 show any open-market purchases or sales by the director?

No. The Form 4 discloses restricted stock units (RSUs) granted; it does not report any open-market purchases or dispositions of common stock.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Brett W. Johnston, as Attorney-in-Fact, on 08/14/2025.