Eberwein discloses 30.7% stake in Star Equity

Jeffrey E. Eberwein reports beneficial ownership of 1,149,289 shares of Star Equity Holdings common stock, representing about 30.7% of the class, based on 3,748,404 shares including warrants.

Rhea-AI Filing Summary

Jeffrey E. Eberwein reports beneficial ownership of 1,149,289 shares of Star Equity Holdings common stock, representing about 30.7% of the class, based on 3,748,404 shares including warrants. The aggregate purchase price for these common shares is approximately $22.56 million.

He also owns 765,077 shares of the company’s 10% Series A Cumulative Perpetual Preferred Stock. On June 25, 2026, he entered into a Rule 10b5-1 sales trading plan with Ladenburg Thalmann & Co. to permit discretionary, pre-arranged sales of the preferred stock between October 1, 2026 and October 1, 2028, with no assurance any preferred shares will actually be sold.

Key Figures

Beneficial common shares: 1,149,289 shares Ownership percentage: 30.7% Aggregate purchase price: $22,560,917 +5 more

8 metrics

Beneficial common shares 1,149,289 shares Common stock beneficially owned by Eberwein as of June 29, 2026

Ownership percentage 30.7% Percent of Star Equity common stock class represented by 1,149,289 shares

Aggregate purchase price $22,560,917 Total paid for 1,149,289 common shares, excluding brokerage commissions

Shares outstanding base 3,698,954 shares Common shares outstanding as of June 29, 2026, used in ownership calculation

Warrant shares included 49,450 shares Common shares underlying immediately exercisable warrants included in beneficial ownership

Total shares for percentage 3,748,404 shares Outstanding common plus 49,450 warrant shares attributed to Eberwein

Preferred shares held 765,077 shares 10% Series A Cumulative Perpetual Preferred Stock owned by Eberwein

10b5-1 plan term Oct 1, 2026 – Oct 1, 2028 Period during which broker may sell preferred stock under the plan

Key Terms

Rule 10b5-1, Schedule 13D, 10% Series A Cumulative Perpetual Preferred Stock, beneficially owned, +2 more

6 terms

Rule 10b5-1 regulatory

"entered into a Rule 10b5-1 of the Securities Exchange Act of 1934 Sales Trading Plan"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

Schedule 13D regulatory

"The following constitutes Amendment No. 12 to the filed by the undersigned"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

10% Series A Cumulative Perpetual Preferred Stock financial

"Mr. Eberwein owns 765,077 shares of the Issuer's 10% Series A Cumulative Perpetual Preferred Stock"

beneficially owned financial

"The aggregate purchase price of the 1,149,289 Shares beneficially owned by Mr. Eberwein"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

ATM offering program financial

"the Broker is selling Preferred Stock as sales agent for the Issuer's ATM offering program"

An ATM offering program (short for “at-the-market” offering) lets a company sell newly issued shares directly into the public market at prevailing prices over time, rather than all at once. It matters to investors because it provides a flexible way for the company to raise cash when conditions are favorable, but it can increase the number of shares available and dilute existing ownership, which may affect the stock’s price and earnings per share. An everyday analogy is a baker adding extra loaves to a shop shelf throughout the day at whatever the current price is.

Sole Voting Power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: Sole Voting Power 1,149,289.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many STRR common shares does Jeffrey E. Eberwein report owning?

Jeffrey E. Eberwein reports beneficial ownership of 1,149,289 Star Equity Holdings common shares. This figure includes 49,450 shares underlying immediately exercisable warrants and is based on a total of 3,748,404 shares, combining outstanding common shares and attributed warrants.

What percentage of Star Equity Holdings (STRR) does Eberwein beneficially own?

Eberwein reports beneficial ownership of approximately 30.7% of Star Equity’s common stock. This percentage is calculated using 3,748,404 shares, which reflect 3,698,954 shares outstanding as of June 29, 2026, plus 49,450 common shares issuable upon exercise of warrants attributed to him.

What is the aggregate purchase price of Eberwein’s STRR common stock position?

The aggregate purchase price of Eberwein’s 1,149,289 Star Equity common shares is about $22,560,917, excluding brokerage commissions. This amount reflects what he paid to build the disclosed common stock position, not the current market value of the holdings.

How many preferred shares of Star Equity Holdings (STRR) does Eberwein own?

In addition to his common shares, Eberwein owns 765,077 shares of Star Equity’s 10% Series A Cumulative Perpetual Preferred Stock. This preferred position is separate from his common stock holdings and is the security subject to the disclosed Rule 10b5-1 sales trading plan.

What are the key dates for Eberwein’s Rule 10b5-1 sales plan on STRR preferred stock?

The Rule 10b5-1 sales trading plan was entered on June 25, 2026. The broker may begin selling Star Equity preferred stock under the plan on October 1, 2026, and the plan expires on October 1, 2028, unless earlier terminated under specified conditions.

Does Eberwein’s Rule 10b5-1 plan guarantee sales of STRR preferred shares?

The plan does not guarantee any sales of Star Equity preferred shares. The filing states there can be no assurance how many, if any, preferred shares will be sold or at what prices, and the seller may later modify, suspend, or terminate the plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/29/2026 - 06:23 PM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 12)

Star Equity Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

443787205

(CUSIP Number)

JEFFREY E. EBERWEIN
53 Forest Avenue, Suite 101,
Old Greenwich, CT, 06870
203-489-9500

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/25/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 443787205

1

Name of reporting person

JEFFREY E. EBERWEIN

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,149,289.00
8	Shared Voting Power
9	Sole Dispositive Power 1,149,289.00
10	Shared Dispositive Power

11

Aggregate amount beneficially owned by each reporting person

1,149,289.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

30.7 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

* Includes 49,450 shares of common stock underlying immediately exercisable warrants ("Warrants") to purchase Star common stock. Excludes certain grants made under the Issuer's 2009 Incentive Stock and Awards Plan, as amended and restated, specifically 8,918 shares of restricted stock granted on September 15, 2025, 5,703 shares of restricted stock granted on January 15, 2026, 6,504 shares of restricted stock granted on April 15, 2026, and 6,750 restricted stock units granted on January 24, 2025, which vest upon the anniversary of the respective grant dates.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share
(b)	Name of Issuer: Star Equity Holdings, Inc.
(c)	Address of Issuer's Principal Executive Offices: 53 FOREST AVENUE, SUITE 101, OLD GREENWICH, CONNECTICUT , 06870.
Item 1 Comment: The following constitutes Amendment No. 12 to the Schedule 13D filed by the undersigned ("Amendment No. 12"). This Amendment No. 12 amends the Schedule 13D as specifically set forth herein.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated as follows: The aggregate purchase price of the 1,149,289 Shares beneficially owned by Mr. Eberwein is approximately $22,560,917, excluding brokerage commissions. In addition to the 1,149,289 Shares, Mr. Eberwein owns 765,077 shares of the Issuer's 10% Series A Cumulative Perpetual Preferred Stock.
Item 4.	Purpose of Transaction
	Item 4 is hereby amended to add the following: On June 25, 2026 Mr. Eberwein (the "Seller") entered into a Rule 10b5-1 of the Securities Exchange Act of 1934 ("Exchange Act") Sales Trading Plan ("10b5-1 Sales Plan") with Ladenburg Thalmann & Co. ("Broker") for the purpose of establishing a trading plan to effect sales of shares of Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share, ("Preferred Stock") of the Issuer in compliance with all applicable laws, including, without limitation, Section 10(b) of the Exchange Act and the rules and regulations promulgated thereunder, including, but not limited to, Rule 10b5-1. The Broker is authorized to begin selling Preferred Stock pursuant to the 10b5-1 Sales Plan on October 1, 2026. The 10b5-1 Sales Plan expires on October 1, 2028, unless terminated earlier under certain conditions. There can be no assurance as to how many preferred shares, if any, will be sold pursuant to the 10b5-1 Sales Plan or at what price any such shares of Preferred Stock will be sold. The Seller may in the future modify, amend, suspend, or terminate the 10b5-1 Sales Plan in its sole discretion, and the Seller does not undertake any obligation to disclose any such modification, amendment, suspension, or termination. Notwithstanding, the Broker shall not sell Preferred Stock under the 10b5-1 Sales Plan, while the Broker is selling Preferred Stock as sales agent for the Issuer's ATM offering program. A copy of the 10b5-1 Sales Plan is attached hereto as Exhibit 99.2 and is incorporated herein by reference.
Item 5.	Interest in Securities of the Issuer
(a)	Items 5(a)-(c) are hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by the Reporting Person is based upon 3,748,404 Shares, which is inclusive of 3,698,954 shares outstanding as of June 29, 2026 in addition to 49,450 Warrants attributed to the Reporting Person. The total number of Shares outstanding is based on information provided by the Issuer to the Reporting Person. As of the close of business on June 29, 2026, Mr. Eberwein beneficially owned 1,149,289 Shares. Percentage: 30.66%
(b)	1. Sole power to vote or direct vote: 1,149,289 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 1,149,289 4. Shared power to dispose or direct the disposition: 0
(c)	Jeff Eberwein's transactions in the Shares since the last Schedule 13D/A filed on June 1, 2026 are set forth in Schedule A, attached hereto as Exhibit 99.1, and is incorporated herein by reference.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 99.1 - Schedule A; Exhibit 99.2 - Rule 10b5-1 Sales Trading Plan, dated June 25, 2026, by and between Jeffrey E. Eberwein and Ladenburg Thalmann & Co.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

JEFFREY E. EBERWEIN

Signature:	/s/ Jeffrey E. Eberwein
Name/Title:	Jeffrey E. Eberwein
Date:	06/29/2026