Spok Holdings, Inc. files SEC reports that document its healthcare communications business, Nasdaq-listed common stock, operating results, dividends and governance. Recent Form 8-K filings furnish quarterly and annual results, board dividend declarations, Regulation FD investor presentations and material corporate events related to executive roles and strategic realignment.
The company's proxy materials cover director elections, executive compensation, equity awards, shareholder voting matters and pay-versus-performance disclosure. Investor presentation exhibits and related filings describe risk areas for SPOK, including wireless network rationalization, paging-unit declines, dependence on the U.S. healthcare market, software sales cycles, competition, third-party vendors, product defects, security vulnerabilities and intellectual-property matters.
Spok Holdings, Inc Chief Operating Officer Michael W. Wallace reported several equity transactions tied to performance-based awards. On March 4, 2026, he exercised 30,525 Restricted Stock Units into the same number of shares of Common Stock, and received an additional grant of 9,157 shares after performance targets under the 2023 Long Term Incentive Plan were exceeded for the year ending December 31, 2025. To cover tax obligations related to these awards, 17,897 shares of Common Stock were disposed of through a tax-withholding transaction, leaving him with 74,034 directly owned common shares after the withholding event.
Spok Holdings, Inc reported that President and CEO Vincent D. Kelly, through his revocable trust, completed several equity award-related transactions. On March 4, 2026, 48,840 Restricted Stock Units were exercised into Common Stock after performance targets under the 2023 Long Term Incentive Plan for the year ended December 31, 2025 were exceeded. The trust also received an additional grant of 14,652 shares of Common Stock tied to this performance determination, while 28,635 shares were disposed of to cover exercise price or tax obligations. Following these transactions, the trust’s indirect holdings reported in one line item totaled 157,565 shares of Common Stock.
Spok Holdings Chief Financial Officer Calvin Rice reported equity transactions tied to a prior performance-based award and a new grant. He exercised 13,736 Restricted Stock Units, converting them into 13,736 shares of common stock at a stated value of $12.14 per share. The Compensation Committee determined that performance targets under a 2023 long-term incentive plan had been exceeded, leading to an additional grant of 4,120 common shares at $12.14 per share. To cover tax obligations associated with these vestings, 8,759 common shares were disposed of through a tax-withholding transaction, leaving Rice with 21,359 directly held common shares after these movements.
Spok Holdings released an investor presentation outlining its 2025 performance, capital returns, and 2026 outlook. For 2025, revenue was $139.7 million, split between wireless at $72.5 million and software at $67.2 million, with adjusted EBITDA of $29.0 million.
The company returned $27.3 million to stockholders in 2025 and has no debt with $25.3 million of cash and equivalents as of December 31, 2025. More than 80% of revenue is recurring, supported by over 2,200 hospitals and about 675,000 wireless units in service.
For 2026, Spok targets total revenue between $136.0 million and $143.0 million and adjusted EBITDA between $27.5 million and $32.5 million, while emphasizing stable wireless cash flow, growth in software bookings, and continued capital returns through dividends and potential share repurchases.
Spok Holdings describes its 2025 business, strategy and risks as a healthcare-focused communications company. It delivers clinical communication and collaboration software plus paging-based wireless services, with wireless products and services providing 52% of 2025 revenue and software maintenance and subscription 26%.
The company emphasizes generating free cash flow and returning capital through dividends and buybacks while managing a declining paging base. It plans to invest in its Spok Care Connect platform, GenA encrypted pagers and professional services, and continue network rationalization to cut costs. Spok expects to pay a quarterly dividend of $0.3125 per share in 2026.
Key risks include dependence on the U.S. healthcare sector, intense competition from mobile and software providers, talent retention challenges, cybersecurity threats, regulatory compliance, and the need to offset wireless revenue erosion with software growth and expense control.
Spok Holdings reported essentially flat total revenue of $139.7 million for 2025, up 1.5% from 2024, with software revenue rising 4.8% to $67.2 million and wireless revenue slipping 1.4% to $72.5 million. Full-year net income increased 6.1% to $15.9 million, while adjusted EBITDA was stable at $29.0 million, down only 0.6%.
In the fourth quarter, revenue was $33.9 million, essentially unchanged year over year, and net income declined to $2.9 million. Software operations bookings in the quarter rose 14.0% from the prior year to $8.1 million, and software backlog stood at $58.2 million as of December 31, 2025.
The company ended 2025 with cash and cash equivalents of $25.3 million and no debt, after returning $27.3 million to stockholders during the year. The Board declared a regular quarterly dividend of $0.3125 per share, payable on March 31, 2026 to stockholders of record on March 16, 2026. For full-year 2026, Spok guided to total revenue of $136.0–$143.0 million and adjusted EBITDA of $27.5–$32.5 million.
Spok Holdings, Inc. officer Sharon Woods-Keisling, Corporate Secretary and Treasurer, reported equity compensation activity on January 5, 2026. Several blocks of Restricted Stock Units (RSUs) vested and were converted into common stock, including 2,490 RSUs, 2,401 RSUs, and 3,816 RSUs, each representing one share of common stock.
These conversions are shown as code M transactions, and the resulting common shares appear in Table I, where 8,707 shares of common stock were acquired at $13.19 per share and a separate code F transaction shows 3,083 shares disposed of at $13.19 per share. After these transactions, Woods-Keisling directly owned 25,624 shares of Spok common stock. Footnotes state that 2,490 RSUs are scheduled to vest on December 31, 2026, and 4,803 RSUs are scheduled to vest on December 31, 2026 and December 31, 2027.
Spok Holdings’ Chief Operating Officer Michael W. Wallace exercised 22,865 Restricted Stock Units into Common Stock on January 5, 2026 at $13.19 per share. 10,985 shares were withheld to satisfy tax obligations. Following these transactions he holds 52,249 Common shares and 18,921 RSUs, with remaining RSUs scheduled to vest in 2026 and 2027.
Spok Holdings, Inc. President & CEO Vincent D. Kelly reported equity award activity on January 5, 2026, all held indirectly as trustee of the Vincent DePaul Kelly Fifth Amended and Restated Revocable Trust. The trust acquired 37,430 shares of common stock at $13.19 per share in a transaction coded “M,” then disposed of 17,539 shares at $13.19 in a transaction coded “F,” leaving 122,708 common shares held indirectly.
Three blocks of restricted stock units vested on the same date. Vested amounts were 10,766 RSUs, 10,384 RSUs, and 16,280 RSUs, each representing the right to receive one share of common stock. Following these events, 10,767 RSUs are scheduled to vest on December 31, 2026, and 20,768 RSUs are scheduled to vest on December 31, 2026 and December 31, 2027.
Spok Holdings, Inc. Chief Financial Officer and CAO Calvin Rice reported equity award vesting and related stock transactions dated January 5, 2026. Restricted Stock Units vested and were converted into common stock, resulting in the acquisition of 11,452 shares of common stock at $13.19 per share and a disposition of 6,225 shares at the same price. Following these transactions, Rice directly held 12,262 shares of Spok common stock. The derivative table shows RSU vestings of 3,499, 3,374, and 4,579 units, each representing the right to receive one common share, with remaining RSUs scheduled to vest on December 31, 2026 and December 31, 2027.