Quest Resource (QRHC) Director Reports DSU Grant and Holdings

Rhea-AI Filing Summary

Nolan Stephen A, a director of Quest Resource Holding Corp (QRHC), reported insider transactions on Form 4 dated 08/31/2025. The filing shows an acquisition of 1,871 deferred stock units (DSUs) at an effective price of $1.87 per share, granted under the Issuer's 2024 Incentive Compensation Plan; the underlying common shares for those DSUs will be issued upon the reporting person's separation from service. The report discloses total beneficial holdings that include 63,657 DSUs from the 2012 plan, 13,823 DSUs from the 2024 plan, 20,000 restricted stock units (RSUs) scheduled to fully vest on August 13, 2026, and 92,585 shares of common stock (including 5,000 held jointly with spouse).

Positive

• Grant recorded: Acquisition of 1,871 DSUs at $1.87 under the 2024 Incentive Compensation Plan
• Detailed holdings disclosed: Includes 63,657 DSUs (2012 plan), 13,823 DSUs (2024 plan), 20,000 RSUs vesting 08/13/2026, and 92,585 common shares (5,000 jointly held)

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received equity compensation in the form of DSUs and holds RSUs and common shares; transaction is compensation-related, not an open-market trade.

The Form 4 documents a grant-based acquisition of 1,871 DSUs at $1.87 on 08/31/2025 under the 2024 Incentive Compensation Plan. The filing clarifies these are deferred units whose underlying shares will be issued upon separation from service. Reported beneficial ownership combines multiple plan grants and outstanding shares, including 20,000 RSUs vesting on 08/13/2026 and 92,585 common shares (5,000 jointly held). From an analytical perspective, this is a routine insider compensation disclosure rather than a cash purchase or sale, and therefore primarily informs schedule and magnitude of equity that could convert to common stock in the future.

Corporate Governance Expert

TL;DR: The filing reflects standard director compensation via deferred equity grants with specified vesting/issuance conditions.

The report specifies DSUs granted under the 2012 and 2024 Incentive Compensation Plans and RSUs with a stated vest date of August 13, 2026. The DSUs' underlying shares will be issued upon separation from service, indicating deferred compensation treatment. The signature by an attorney-in-fact is present and the filing lists the reporting person's status as a director. No sales, option exercises, or derivative transactions are reported in Table II. This is a routine disclosure relevant to shareholder dilution timing and governance transparency.

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).

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^*

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)
08/31/2025

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	08/31/2025		A		1,871(1)	A	$1.87	77,480(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) 13,823 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	09/02/2025
	** 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).
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FAQ

What transaction did Nolan Stephen A report on Form 4 for QRHC?

The Form 4 reports the acquisition of 1,871 deferred stock units (DSUs) on 08/31/2025 at an effective price of $1.87 under the 2024 Incentive Compensation Plan.

When will the shares underlying the DSUs be issued?

The filing states the underlying shares for the DSUs shall be issued upon the Reporting Person's separation from service with the Issuer.

How many RSUs and when do they vest according to the filing?

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

What total beneficial ownership is reported for the director?

Reported holdings include 63,657 DSUs (2012 plan), 13,823 DSUs (2024 plan), 20,000 RSUs (vesting 08/13/2026), and 92,585 common shares (including 5,000 joint).

Was this Form 4 filed individually or jointly?

The filing indicates it was filed by one reporting person (Form filed by One Reporting Person).