Quest Resource (QRHC) Insider Filing: RSU Vesting and New Grant Detailed

Rhea-AI Filing Summary

Quest Resource Holding Corp (QRHC) insider report: Director Glenn Culpepper received 10,409 restricted stock units (RSUs) that vested on 08/12/2025 and converted one-for-one into 10,409 shares of common stock. Following that transaction the reporting person beneficially owned 26,585 shares. On 08/13/2025 Mr. Culpepper was granted 20,000 RSUs scheduled to vest in three equal annual installments on 08/13/2026, 08/13/2027 and 08/13/2028, increasing reported beneficial ownership to 46,585 shares on a post-grant basis. The filing also discloses 21,629 deferred stock units (15,000 under the 2012 plan and 6,629 under the 2024 plan) that convert to common shares upon separation from service. The Form 4 was completed by attorney-in-fact Brett W. Johnston on 08/14/2025.

Positive

• Vested RSUs converted to shares, increasing director equity alignment with shareholders by 10,409 shares on 08/12/2025
• New 20,000 RSU grant with staggered vesting provides continued alignment over 2026–2028
• DSUs disclosed (21,629 total) with clear issuance condition upon separation, improving transparency

Negative

• No cash purchases or sales disclosed, so the filing does not provide signal about insider buying conviction
• Potential dilution from outstanding RSUs and DSUs is present though not quantified as a percent of outstanding shares in this filing

Insights

Financial Analyst

TL;DR: Routine director compensation conversion and new RSU grant; no cash transactions or dispositions disclosed.

The Form 4 documents compensation-related equity activity for a director: vesting of previously-granted RSUs into 10,409 shares and a subsequent grant of 20,000 RSUs with multi-year vesting. These are standard non-cash equity awards intended to align director interests with shareholders. There are no sales, purchases for cash, or receipt of proceeds reported, and no exercise of options. The aggregate position including DSUs is disclosed, clarifying future issuance timing tied to separation events for DSUs. For investors, this is a governance and compensation disclosure rather than a liquidity or control event.

Corporate Governance Expert

TL;DR: Compensation-related filings showing vesting and new grant; indicates routine director equity program activity.

The filing reflects standard director compensation mechanics: vested RSUs converting to shares and a follow-on RSU grant with staggered vesting. The disclosure of DSUs from two plans with issuance upon separation is appropriate and clarifies timing of potential dilution. Signature by an attorney-in-fact is noted. Nothing in the filing indicates unusual governance arrangements or related-party transactions beyond typical equity-based compensation.

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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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^*

Culpepper Glenn

(Last) (First) (Middle)

7777 WESTSIDE DRIVE, APT. 526

(Street)

SAN DIEGO CA 92108

(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)
08/12/2025

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	08/12/2025		M(1)		10,409	A	(2)	26,585	D
Common Stock	08/13/2025		A		20,000(3)	A	(2)	46,585(4)	D
Common Stock								21,629(5)	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
Restricted Stock Unit	(2)	08/12/2025		M(1)			10,409	(1)	(1)	Common Stock	10,409	$0	0	D

Explanation of Responses:

1. Represents restricted stock units ("RSUs") granted on August 12, 2024 that fully vested 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. Represents RSUs granted on August 13, 2025 and scheduled to fully vest on August 13, 2026. Each RSU represents a contingent right to receive one share of common stock upon vesting. The Reporting Person has reported prior awards of RSUs in Table II of Form 4.

4. Includes (a) 20,000 RSUs that are scheduled to vest in three equal installments on August 13, 2026, August 13, 2027 and August 13, 2028 and (b) 26,585 shares of common stock beneficially owned by the Reporting Person.

5. The reported securities include (a) 15,000 deferred stock units ("DSUs") granted under the Issuer's 2012 Incentive Compensation Plan and (b) 6,629 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.

	/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.
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FAQ

What did QRHC director Glenn Culpepper report on Form 4?

He reported 10,409 RSUs that vested on 08/12/2025 and converted one-for-one into 10,409 shares, and a grant of 20,000 RSUs on 08/13/2025.

How many RSUs were granted to Glenn Culpepper on 08/13/2025?

20,000 RSUs were granted on 08/13/2025, scheduled to vest in three equal installments on 08/13/2026, 08/13/2027 and 08/13/2028.

How many deferred stock units (DSUs) does the filing show for the reporting person?

21,629 DSUs in total: 15,000 under the 2012 Incentive Compensation Plan and 6,629 under the 2024 Incentive Compensation Plan.

Did the Form 4 report any cash transactions or sales of QRHC shares?

No. The filing discloses only RSU vesting, conversion into shares, new RSU grants, and DSUs; no purchases or sales for cash are reported.

Who signed the Form 4 and when was it filed?

Signed by attorney-in-fact Brett W. Johnston on 08/14/2025 as indicated in the filing.