Regional Management 10% holder sells 29K shares

A 10% owner group linked to Forager Fund disclosed open-market sales totaling 29,322 RM shares over three days.

Rhea-AI Filing Summary

Regional Management Corp. (RM) reported that investment entities associated with Forager Fund, L.P. filed to disclose open-market sales of its common stock. On September 15–17, 2026, the Fund sold a total of 29,322 shares at weighted average prices around $32 per share across multiple trades. The shares are held directly by Forager Fund, L.P.; Forager Capital Management, LLC is its general partner, and Edward Urban Kissel and Robert Symmes MacArthur are principals with shared voting and dispositive authority. Each reporting person disclaims beneficial ownership except to the extent of any pecuniary interest. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Seller: 29,322 shares

Net Sell 3 txns

Insider Forager Fund, L.P., Forager Capital Management, LLC, Kissel Edward Urban, MacArthur Robert Symmes

Role 10% Owner | 10% Owner | 10% Owner | 10% Owner

Sold 29,322 shs ($945K)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.10 per share F4, F2	10,401	$32.22	$335K
Sale	Common Stock, par value $0.10 per share F3, F2	9,064	$32.19	$292K
Sale	Common Stock, par value $0.10 per share F1, F2	9,857	$32.26	$318K

Holdings After Transaction: Common Stock, par value $0.10 per share — 919,136 shares (Direct)

Footnotes (4)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.00 to $32.745, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.
2. F2. The shares reported are directly held by Forager Fund, L.P., a Delaware limited partnership (the "Fund"). Forager Capital Management, LLC is the general partner of the Fund (the "General Partner"), and each of Messrs. Kissel and MacArthur is a principal of the General Partner and has shared authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, the shares on behalf of the General Partner. Each of the reporting persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.
3. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.00 to $32.42, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.
4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.10 to $32.5303, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

Key Figures

Shares sold September 15, 2026: 9,857 shares Weighted average price September 15, 2026: $32.26 per share Shares sold September 16, 2026: 9,064 shares +4 more

7 metrics

Shares sold September 15, 2026 9,857 shares Open-market sale of RM common stock at weighted average price

Weighted average price September 15, 2026 $32.26 per share Sales in multiple transactions from $32.00 to $32.745

Shares sold September 16, 2026 9,064 shares Open-market sale of RM common stock at weighted average price

Weighted average price September 16, 2026 $32.19 per share Sales in multiple transactions from $32.00 to $32.42

Shares sold September 17, 2026 10,401 shares Open-market sale of RM common stock at weighted average price

Weighted average price September 17, 2026 $32.22 per share Sales in multiple transactions from $32.10 to $32.5303

Total shares sold 29,322 shares Aggregate of three open-market sales from September 15–17, 2026

Key Terms

weighted average price, beneficial ownership, pecuniary interest, dispositive

4 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficial ownership financial

"Each of the reporting persons disclaims beneficial ownership of such shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest"

dispositive financial

"has shared authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, the shares"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity did RM report in this Form 4?

The filing reports that entities associated with Forager Fund, L.P. sold a total of 29,322 shares of Regional Management Corp. common stock in open-market transactions over September 15–17, 2026.

Who are the reporting persons in Regional Management Corp. (RM)’s Form 4?

The reporting persons are Forager Fund, L.P., Forager Capital Management, LLC, and individuals Edward Urban Kissel and Robert Symmes MacArthur, each listed as a ten percent owner of RM.

What trade dates and prices were disclosed for the RM stock sales?

Sales occurred on September 15, 16, and 17, 2026, at weighted average prices of $32.26, $32.19, and $32.22 per share, respectively, each representing multiple trades within stated intraday price ranges.

How many RM shares were sold in each transaction by the Forager Fund group?

The sales covered 9,857 shares on September 15, 9,064 shares on September 16, and 10,401 shares on September 17, 2026, for a total of 29,322 shares of Regional Management Corp. common stock.

Were the Forager-related RM stock sales under a Rule 10b5-1 trading plan?

No. The Form 4 indicates no Rule 10b5-1 plan for these transactions, and the footnotes do not state that the trades were made pursuant to any pre-arranged trading plan.

How are the RM shares held and who has authority over them?

The shares are held directly by Forager Fund, L.P.. Forager Capital Management, LLC is the general partner, and Messrs. Kissel and MacArthur have shared authority to vote and dispose of the shares on behalf of the general partner, subject to their pecuniary interests.

Do the reporting persons claim full beneficial ownership of the RM shares?

No. Each reporting person disclaims beneficial ownership of the Regional Management Corp. shares except to the extent of his or its pecuniary interest in those shares.

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

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Available on EDGAR 09/17/2026 - 07:15 PM Accepted by SEC EDGAR 09/17/2026 - 07:15 PM Learn about SEC filing dates

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Forager Fund, L.P.

(Last) (First) (Middle)

2025 3RD AVE. N, SUITE 350

(Street)

BIRMINGHAM ALABAMA 35203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Regional Management Corp. [ RM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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, par value $0.10 per share	09/15/2026		S		9,857	D	$32.26(1)	938,601	D(2)
Common Stock, par value $0.10 per share	09/16/2026		S		9,064	D	$32.19(3)	929,537	D(2)
Common Stock, par value $0.10 per share	09/17/2026		S		10,401	D	$32.22(4)	919,136	D(2)

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

1. Name and Address of Reporting Person^*

Forager Fund, L.P.

(Last) (First) (Middle)

2025 3RD AVE. N, SUITE 350

(Street)

BIRMINGHAM ALABAMA 35203

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Forager Capital Management, LLC

(Last) (First) (Middle)

2025 3RD AVE. N, SUITE 350

(Street)

BIRMINGHAM ALABAMA 35203

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Kissel Edward Urban

(Last) (First) (Middle)

2025 3RD AVE. N, SUITE 350

(Street)

BIRMINGHAM ALABAMA 35203

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

MacArthur Robert Symmes

(Last) (First) (Middle)

2025 3RD AVE. N, SUITE 350

(Street)

BIRMINGHAM ALABAMA 35203

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.00 to $32.745, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

2. The shares reported are directly held by Forager Fund, L.P., a Delaware limited partnership (the "Fund"). Forager Capital Management, LLC is the general partner of the Fund (the "General Partner"), and each of Messrs. Kissel and MacArthur is a principal of the General Partner and has shared authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, the shares on behalf of the General Partner. Each of the reporting persons disclaims beneficial ownership of such shares except to the extent of his or its pecuniary interest therein, if any.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.00 to $32.42, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.10 to $32.5303, inclusive. The reporting persons undertake to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range.

	/s/ Robert MacArthur, on behalf of Forager Capital Management, LLC as managing member	09/17/2026
	/s/ Robert MacArthur, on behalf of Forager Fund L.P. as managing member of the sole general partner	09/17/2026
	/s/ Edward Kissel	09/17/2026
	/s/ Robert MacArthur	09/17/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)