[Form 4] Spok Holdings, Inc Insider Trading Activity

Rhea-AI Filing Summary

Spok Holdings director Todd J. Stein reported open-market sales of Spok common stock on 08/18/2025. The filing shows Mr. Stein (filing as one reporting person) disposed of 13,049 shares via Braeside Capital, L.P. at about $18.3686 per share and 15,317 shares via Braeside Capital II, L.P. at about $18.3687 per share, totaling 28,366 shares sold. After these transactions, the Form 4 reports 558,951 shares beneficially owned by Braeside Capital, 643,427 shares by Braeside Capital II, and 42,726 shares directly by Mr. Stein.

The filing includes an explanation that Braeside Investments, LLC serves as investment manager for the two limited partnerships and that Mr. Stein, as co-manager, may be deemed to beneficially own the partnership-held shares, although he disclaims beneficial ownership except to the extent of his pecuniary interest. The Form 4 is signed by Mr. Stein on 08/20/2025.

Positive

• None.

Negative

• Director sale of 28,366 shares on 08/18/2025 could be perceived negatively by some investors even though substantial holdings remain
• Sales executed at approximately $18.37 per share, representing realized insider liquidity that may slightly increase public float

Insights

Securities Analyst

TL;DR: A director sold 28,366 Spok shares across two Braeside entities at ~$18.37, but continues to have substantial indirect holdings.

These sales are disclosed as Section 16 transactions by Director Todd J. Stein and appear to be routine dispositions rather than derivative exercises or company repurchases. The prices reported (~$18.3686–$18.3687) indicate open-market sales executed on a single date. Despite the sales, the reported indirect holdings remain sizeable (558,951 and 643,427 shares), which suggests continued economic interest via the Braeside funds. For investors, the filing documents insider liquidity but does not by itself indicate reduced alignment with shareholders due to the large remaining holdings.

Corporate Governance Expert

TL;DR: Director sold shares through affiliated investment vehicles while retaining significant beneficial ownership; disclosure and disclaimers are standard.

The explanatory footnotes state Braeside Investments, LLC manages both Braeside Capital funds and that Mr. Stein, as co-manager, may be deemed to beneficially own the partnership-held shares while disclaiming actual beneficial ownership beyond pecuniary interest. This is a typical governance disclosure clarifying indirect ownership via managed funds. The filing contains clear timestamps and manual signature, meeting Form 4 requirements. No options, grants, or derivative transactions are reported, and no amendment history is indicated.

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)
08/18/2025

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	08/18/2025		S		13,049	D	$18.3686	558,951	I	Braeside Capital, L.P.(1)
Common Stock	08/18/2025		S		15,317	D	$18.3687	643,427	I	Braeside Capital II, L.P.(2)
Common Stock	08/18/2025		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/	08/20/2025
	** 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 did Todd J. Stein disclose in the SPOK Form 4?

He disclosed sales of 13,049 shares via Braeside Capital, L.P. and 15,317 shares via Braeside Capital II, L.P. on 08/18/2025 at about $18.37 per share.

How many Spok shares does Mr. Stein still beneficially own after the reported transactions?

The filing reports 558,951 shares for Braeside Capital, 643,427 shares for Braeside Capital II, and 42,726 shares directly by Mr. Stein.

Are the reported transactions direct sales or through funds for SPOK?

The sales were reported as dispositions by entities managed by Braeside Investments, LLC; Mr. Stein is a co-manager and may be deemed to beneficially own those fund-held shares.

Did the Form 4 report any derivative transactions or option exercises for SPOK?

No. Table II (derivative securities) shows no derivative acquisitions or dispositions in this filing.

When was the Form 4 signed and filed for the SPOK transactions?

The signature block shows the form signed by Todd Stein on 08/20/2025.