Spok Holdings Insider Sale: Todd Stein Disposes 38,008 Shares

Rhea-AI Filing Summary

Todd J. Stein, a director of Spok Holdings, Inc. (SPOK), reported sales of common stock on 09/04/2025. The Form 4 shows Mr. Stein

Positive

• Timely and complete disclosure of insider transactions with explanatory footnotes and signature.
• Large indirect holdings remain through Braeside Capital, L.P. and Braeside Capital II, L.P., indicating continued affiliated exposure.

Negative

• Director sale of 38,008 shares on 09/04/2025 at $18.0846 could be interpreted as insider selling activity.
• Beneficial ownership is largely indirect, which can make assessment of the reporting person’s economic interests less transparent.

Insights

Financial Analyst

TL;DR: Director sold 38,008 SPOK shares at $18.0846 on 09/04/2025; holdings remain largely indirect via investment vehicles.

The transactions reflect a modest insider disposition totaling 38,008 shares for proceeds implied by the $18.0846 price. Post-transaction holdings show substantial indirect positions through two limited partnerships, indicating continued exposure by affiliated investment vehicles. The filing is routine, timely, and contains standard disclaimers about beneficial ownership. Without additional context on trading plan or proportionate size relative to total holdings, the sale appears non-material to SPOK's capitalization but is relevant for monitoring insider behavior.

Corporate Governance Expert

TL;DR: Form 4 discloses director sales and clarifies indirect ownership via managed funds and a disclaimer of beneficial ownership.

The disclosure appropriately identifies the reporting person as a director and explains the managerial relationship to Braeside Investments and the two limited partnerships. The explanatory footnotes and signature meet disclosure conventions. The record shows no exercised derivatives or other atypical transactions. From a governance perspective, transparency is maintained; however, investors may note that sizable indirect holdings remain with affiliated entities.

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
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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)
09/04/2025

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	09/04/2025		S		17,482	D	$18.0846	497,560	I	Braeside Capital, L.P.(1)
Common Stock	09/04/2025		S		20,526	D	$18.0846	566,912	I	Braeside Capital II, L.P.(2)
Common Stock	09/04/2025		S		0	D	$0.00	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/	09/05/2025
	** 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 director Todd J. Stein report on the Form 4?

Mr. Stein reported two sales on 09/04/2025 totaling 38,008 shares of Spok Holdings common stock.

At what price were the SPOK shares sold according to the Form 4?

Both dispositions are reported at a price of $18.0846 per share.

How many SPOK shares does Todd J. Stein beneficially own after the reported transactions?

The filing shows 497,560 shares indirectly via Braeside Capital, 566,912 shares indirectly via Braeside Capital II, and 42,726 shares directly.

What is the relationship between Todd J. Stein and the entities that hold SPOK shares?

Mr. Stein is a co-manager of Braeside Investments, the investment manager of the two limited partnerships, and he disclaims beneficial ownership except to the extent of his pecuniary interest.

When was the Form 4 signed and filed?

The Form 4 bears Mr. Stein’s signature dated 09/05/2025 and lists the earliest transaction date as 09/04/2025.