ONE Group Hospitality Insider Eugene Bullis Boosts Stake with 6,481-Share Grant

Rhea-AI Filing Summary

Form 4 filing overview: ONE Group Hospitality, Inc. (STKS) director Eugene M. Bullis reported the acquisition of 6,481 shares of common stock on 06/30/2025. The transaction is coded “A,” indicating a grant or non-market acquisition; the stated price is $0.00, confirming the shares were awarded rather than purchased on the open market. Following the grant, Bullis’ direct holdings increase to 213,820 shares. No derivative securities were involved.

Investor takeaways:

• The filing reflects a modest increase (≈3.1% of the insider’s prior direct stake) and marginal dilution to existing shareholders.
• Because the shares were received as compensation, the transaction does not signal an out-of-pocket bullish purchase, but it does enlarge insider equity alignment.
• No sales were reported, which helps maintain a neutral-to-positive sentiment on insider activity.

Positive

• Director’s ownership increases, enhancing alignment with shareholders.
• No insider sales were disclosed, avoiding negative sentiment.

Negative

• None.

Insights

Securities Analyst

TL;DR: Small, non-cash insider grant; neutral market impact.

The 6,481-share grant lifts Bullis’ stake to 213,820 shares, but represents well under 1% of STKS’ 30 M+ share count. Because the shares were issued at no cost, this is best viewed as routine board compensation rather than a conviction purchase. The absence of sales avoids negative optics, yet the immaterial size limits any strong bullish signal for investors. Overall, I classify the filing as information-only and unlikely to move the stock.

Corporate Governance Expert

TL;DR: Standard equity compensation strengthens alignment, minor dilution.

The board’s use of equity grants aligns directors with shareholders, consistent with best governance practices. The incremental dilution is negligible, but transparency via timely Form 4 is positive. No red flags on timing or Rule 10b5-1 disclosures. Given the modest share count, the event is governance-neutral with limited strategic significance.

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^*

BULLIS EUGENE M

(Last) (First) (Middle)

1624 MARKET ST

STE 311

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ONE Group Hospitality, Inc. [ STKS ]

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)
06/30/2025

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	06/30/2025		A		6,481	A	$0	213,820	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:

	/s/ Christi Hing, Attorney-in-Fact	07/01/2025
	** 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

How many STKS shares did Director Eugene Bullis acquire?

He received 6,481 shares of ONE Group Hospitality common stock on 06/30/2025.

What is Eugene Bullis’ total direct ownership after the transaction?

Following the grant, Bullis directly owns 213,820 STKS shares.

Was the transaction a purchase on the open market?

No. The Form 4 lists a $0.00 price and code “A,” indicating a grant or non-market acquisition.

Were any derivative securities involved in this filing?

No derivative securities were reported in Table II.

Does this filing indicate bullish insider sentiment for STKS?

Because the shares were granted as compensation rather than bought, the signal is neutral-to-slightly positive but not a strong bullish indicator.

What is the purpose of SEC Form 4?

Form 4 discloses insider changes in beneficial ownership within two business days, providing transparency to investors.