[Form 4] Spok Holdings, Inc Insider Trading Activity

Rhea-AI Filing Summary

Spok Holdings director Todd J. Stein reported insider sales on August 20, 2025. The filing shows Mr. Stein as a reporting person affiliated with Braeside-managed funds. Two dispositions recorded a sale price of $18.0991 per share: 6,076 shares sold by Braeside Capital, leaving 552,875 shares beneficially owned by that entity, and 7,132 shares sold by Braeside Capital II, leaving 636,295 shares beneficially owned by that entity. The filing also reports Mr. Stein's direct ownership of 42,726 shares. Explanatory footnotes state Braeside Investments, LLC is the investment manager and Mr. Stein may be deemed to beneficially own the fund holdings but disclaims ownership except to his pecuniary interest.

Positive

• Timely and complete disclosure of insider transactions, including prices and post-transaction holdings
• Large indirect positions remain with Braeside Capital (552,875 shares) and Braeside Capital II (636,295 shares), indicating continued substantial holdings

Negative

• Insider sales totaling 13,208 shares (6,076 and 7,132) were executed on 08/20/2025 at $18.0991, which may be viewed negatively by some investors
• Potential perceived conflict as Mr. Stein is co-manager of the investment manager and may be deemed to beneficially own fund-held shares

Insights

Financial Analyst

TL;DR: Insider sales of 13,208 shares were disclosed at $18.0991, with large indirect holdings remaining via Braeside funds.

The filing documents routine dispositions by entities managed by Braeside Investments, with reported sales of 6,076 and 7,132 shares on August 20, 2025 at $18.0991 per share. Following the transactions, Braeside Capital and Braeside Capital II retain 552,875 and 636,295 shares respectively, indicating continued substantial indirect positions. Mr. Stein also reports direct ownership of 42,726 shares. For investors, this is a disclosure of insider liquidity activity but does not indicate a change in the funds' aggregate large holdings as reported here.

Corporate Governance Expert

TL;DR: Filing reflects compliant reporting and clarifies indirect beneficial ownership through managed funds.

The Form 4 cleanly attributes ownership: shares are held directly by two Braeside entities and Mr. Stein is identified as a co-manager of the investment manager that oversees those funds. The explanatory notes properly disclaim direct beneficial ownership beyond pecuniary interest, aligning with standard disclosure practice. The report is timely and signed, fulfilling Section 16 reporting obligations.

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

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^*

Stein Todd J

(Last) (First) (Middle)

C/O SPOK HOLDINGS, INC.

3000 TECHNOLOGY DRIVE, STE 400

(Street)

PLANO TX 75074

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Spok Holdings, Inc [ SPOK ]

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)
08/20/2025

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	08/20/2025		S		6,076	D	$18.0991	552,875	I	Braeside Capital, L.P.(1)
Common Stock	08/20/2025		S		7,132	D	$18.0991	636,295	I	Braeside Capital II, L.P.(2)
Common Stock	08/20/2025		S		0	D	$0	42,726	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. Shares beneficially owned directly by Braeside Capital, L.P. ("Braeside Capital"). Braeside Investments, LLC ("Braeside Investments") serves as the investment manager of Braeside Capital. As a co-manager of Braeside Investments, Mr. Stein may be deemed to beneficially own the shares beneficially owned directly by Braeside Capital. Mr. Stein disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

2. Shares beneficially owned directly by Braeside Capital II, L.P. ("Braeside Capital II"). Braeside Investments serves as the investment manager of Braeside Capital II. As a co-manager of Braeside Investments, Mr. Stein may be deemed to beneficially own the shares beneficially owned directly by Braeside Capital II. Mr. Stein disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

	/Todd Stein/	08/22/2025
	** 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.
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.

FAQ

What insider transactions did Spok Holdings (SPOK) report on Form 4?

The Form 4 reports sales on 08/20/2025 of 6,076 shares by Braeside Capital and 7,132 shares by Braeside Capital II at $18.0991 per share.

How many shares does Braeside Capital beneficially own after the reported transactions?

Braeside Capital is reported to beneficially own 552,875 shares after the sale of 6,076 shares.

How many shares does Braeside Capital II beneficially own after the reported transactions?

Braeside Capital II is reported to beneficially own 636,295 shares after the sale of 7,132 shares.

Does Todd J. Stein report any direct ownership in SPOK?

Yes. The filing shows Mr. Stein directly owns 42,726 shares.

What does the Form 4 say about the relationship between Mr. Stein and the Braeside funds?

Explanatory notes state Braeside Investments, LLC is the investment manager of the funds and as a co-manager Mr. Stein may be deemed to beneficially own the shares held by those funds but disclaims ownership except to his pecuniary interest.