Jeffrey Eberwein takes 18.95% stake in Reliability (RLBY) with 8.85M shares

Rhea-AI Filing Summary

Jeffrey E. Eberwein has disclosed a significant ownership position in Reliability Incorporated common stock. He reports beneficial ownership of 8,853,328 shares, representing 18.95% of the 46,707,790 shares outstanding as of April 2, 2026. Eberwein acquired the shares for an aggregate purchase price of approximately $232,990 and holds sole voting and dispositive power over them.

He describes the investment as an attractive opportunity and indicates he may buy more or sell shares depending on market conditions and price. He may discuss topics such as board composition, capitalization, ownership structure, and operations with the company’s board, management, and other stockholders, though he states he has no current specific plans for the types of transactions listed in Item 4. He reports no share transactions in the past 60 days and notes the filing was prompted by a reduction in the company’s outstanding share count.

Insights

Corporate governance and activism analyst

Eberwein’s near-19% stake positions him as a potentially influential shareholder with activist-style optionality, but no concrete plans are disclosed.

Jeffrey E. Eberwein reports beneficial ownership of 8,853,328 Reliability Incorporated shares, or 18.95% of outstanding stock as of April 2, 2026. That level of ownership gives him substantial voting power and influence over corporate decisions, especially with sole voting and dispositive power.

The disclosure states he views the shares as an investment and may buy or sell more depending on market conditions, while also reserving the ability to talk with the board, management, and other stockholders about board composition, capitalization, ownership structure, and operations. This language is typical of an investor keeping strategic options open rather than committing to a defined campaign.

He expressly notes no specific current plans for the change-of-control or restructuring events listed in Item 4, and reports no trades in the past 60 days. The filing was triggered by a reduction in outstanding shares, which raised his ownership percentage to the disclosed level. Future company and ownership disclosures would show whether his involvement evolves beyond dialogue into formal proposals or nominations.

Key Figures

Beneficially owned shares: 8,853,328 shares Ownership percentage: 18.95% Shares outstanding: 46,707,790 shares +3 more

6 metrics

Beneficially owned shares 8,853,328 shares Reliability Incorporated common stock beneficially owned by Jeffrey E. Eberwein as of April 10, 2026

Ownership percentage 18.95% Percentage of Reliability’s common stock based on 46,707,790 shares outstanding as of April 2, 2026

Shares outstanding 46,707,790 shares Reliability Incorporated shares outstanding as of April 2, 2026 per Form 8-K

Aggregate purchase price $232,990 Approximate total consideration Eberwein paid for 8,853,328 shares, excluding brokerage commissions

Sole voting power 8,853,328 shares Shares over which Eberwein has sole power to vote or direct the vote

Sole dispositive power 8,853,328 shares Shares over which Eberwein has sole power to dispose or direct the disposition

Key Terms

Schedule 13D, beneficially owned, sole voting power, sole dispositive power, +1 more

5 terms

Schedule 13D regulatory

"The reduction in the outstanding share count disclosed within the Issuer's Form 8K filed on April 10, 2026 prompted the Reporting Person to file this report."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially owned financial

"As of the close of business on April 10, 2026, Mr. Eberwein beneficially owned 8,853,328 Shares."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Sole power to vote or direct vote: 8,853,328"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole power to dispose or direct the disposition: 8,853,328"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

short selling financial

"engaging in short selling of or any hedging or similar transaction with respect to the Shares"

An investing strategy where someone borrows shares and sells them now, planning to buy them back later at a lower price to return to the lender, pocketing the difference; if the price rises instead, the borrower loses money. Think of it like borrowing a book to sell today and hoping you can repurchase it cheaper later. Short selling matters because it lets investors bet against overvalued stocks, can add market liquidity and price discovery, but it also increases volatility and carries the risk of large or unlimited losses.

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

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Accepted by SEC EDGAR 04/20/2026 - 06:29 PM Learn about SEC filing dates

FAQ

How many Reliability Incorporated (RLBY) shares does Jeffrey E. Eberwein own?

Jeffrey E. Eberwein beneficially owns 8,853,328 shares of Reliability Incorporated common stock. This represents 18.95% of the company’s 46,707,790 shares outstanding as of April 2, 2026, giving him substantial voting influence.

What percentage of Reliability Incorporated (RLBY) does Jeffrey E. Eberwein control?

Eberwein reports beneficial ownership of 18.95% of Reliability Incorporated’s common stock. This percentage is based on 46,707,790 shares outstanding as of April 2, 2026, as reported in the company’s Form 8-K filed April 10, 2026.

How much did Jeffrey E. Eberwein pay for his RLBY stake?

He states the aggregate purchase price of his 8,853,328 Reliability Incorporated shares is approximately $232,990, excluding brokerage commissions. This reflects the total consideration paid over time to build his disclosed position in the company.

Does Jeffrey E. Eberwein have control over voting and sale of his RLBY shares?

Yes. He reports sole voting power and sole dispositive power over all 8,853,328 shares. That means he alone decides how these shares are voted and whether, when, and how they are sold or otherwise disposed of.

What are Jeffrey E. Eberwein’s intentions regarding his RLBY investment?

He calls the shares an attractive investment opportunity and may buy or sell more depending on price and conditions. He may also discuss board composition, capitalization, ownership structure, and operations with the board, management, and stockholders, but discloses no specific current plans.

Has Jeffrey E. Eberwein traded RLBY shares recently?

He states that he has not entered into any transactions in Reliability Incorporated shares during the past 60 days. The Schedule 13D filing was prompted instead by the company’s reduced outstanding share count, which affected his ownership percentage.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Reliability Incorporated

(Name of Issuer)

Common Stock, no par value

(Title of Class of Securities)

(CUSIP Number)

Jeffrey E. Eberwein
53 Forest Avenue, Suite 101
Old Greenwich, CT, 06870
203-489-9500

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/10/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP No.

1

Name of reporting person

JEFFREY E. EBERWEIN

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 8,853,328.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,853,328.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

8,853,328.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

19.0 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, no par value
(b)	Name of Issuer: Reliability Incorporated
(c)	Address of Issuer's Principal Executive Offices: 22505 GATEWAY CENTER DRIVE, P.O. BOX 71, CLARKSBURG, MARYLAND , 20871.
Item 2.	Identity and Background
(a)	This statement is filed by Jeffrey E. Eberwein. Mr. Eberwein is referred to as the Reporting Person.
(b)	The address of the principal office of the Reporting Person is 53 Forest Avenue, Suite 101, Old Greenwich, Connecticut 06870.
(c)	The principal occupation of Mr. Eberwein is serving as the Chief Executive Officer of Star Equity Holdings, Inc.
(d)	Mr. Eberwein has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	Mr. Eberwein has not, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Mr. Eberwein is a citizen of the United States of America.
Item 3.	Source and Amount of Funds or Other Consideration
	The aggregate purchase price of the 8,853,328 Shares is approximately $232,990, excluding brokerage commissions.
Item 4.	Purpose of Transaction
	The Reporting Person purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased could be an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Person, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Person may endeavor to increase or decrease the position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Person may deem advisable. The Reporting Person may engage, and may continue to engage, in general discussions with the Issuer's Board of Directors (the "Board") and management team, including with respect to the composition of the Board. No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Person intends to review the investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Person may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in additional communications with management and the Board of the Issuer, engaging in discussions with stockholders of the Issuer and others about the Issuer and the Reporting Persons' investment, making proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure (including Board composition) or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, or changing their intention with respect to any and all matters referred to in Item 4.
Item 5.	Interest in Securities of the Issuer
(a)	The aggregate percentage of Shares reported owned by the Reporting Person is based upon 46,707,790 Shares outstanding as of April 2, 2026, as reported in the Issuer's Current Report on Form 8-K, filed with the SEC on April 10, 2026. As of the close of business on April 10, 2026, Mr. Eberwein beneficially owned 8,853,328 Shares. Percentage: 18.95%
(b)	1. Sole power to vote or direct vote: 8,853,328 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 8,853,328 4. Shared power to dispose or direct the disposition: 0
(c)	The Reporting Person has not entered into any transactions in the Shares during the past 60 days. The reduction in the outstanding share count disclosed within the Issuer's Form 8K filed on April 10, 2026 prompted the Reporting Person to file this report.
(d)	No person other than the Reporting Person is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Person, or between the Reporting Person and any other person, with respect to the securities of the Issuer.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

JEFFREY E. EBERWEIN

Signature:	/s/ Jeffrey E. Eberwein
Name/Title:	Jeffrey E. Eberwein
Date:	04/20/2026