[Form 4] Star Equity Holdings, Inc. Series A Cumulative Perpetual Preferred Stock Insider Trading Activity

Rhea-AI Filing Summary

Star Equity Holdings, Inc. (STRRP) Form 4: Director Louis A. Parks was granted 485 Restricted Stock Units (RSUs) on 08/18/2025 under the company’s 2018 Incentive Plan, as amended. Each RSU represents the right to receive one share of the issuer’s 10% Series A Cumulative Perpetual Preferred Stock with a liquidation preference price used to calculate the award of $10.00 per share. The RSUs were awarded on the Grant Date and are scheduled to vest on the first anniversary of the Grant Date. Following the grant, 485 shares of the Series A preferred are shown as disposed in the filing table. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Insights

Corporate Governance Expert

TL;DR: A routine director equity grant aligns the director with preferred shareholders via time-based vesting.

The grant of 485 RSUs to Director Louis A. Parks under the 2018 Incentive Plan represents a time‑based compensation tool that vests one year after the grant date. Awards settled in Series A preferred shares tie director incentives to the preferred class economics rather than common equity. This is a governance choice that can influence director alignment with holders of that security class and reflects standard board compensation practices. The filing documents the award date, vesting schedule, and conversion mechanics without additional unusual terms.

Securities Analyst

TL;DR: The Form 4 reports a non-cash equity award; it is informational and not an immediate liquidity event.

The Form 4 discloses a grant of 485 RSUs convertible into 10% Series A Cumulative Perpetual Preferred Stock, using a $10.00 liquidation preference to size the award. Because the RSUs vest after one year and represent preferred shares rather than common stock, there is no immediate change in common share float or trading liquidity. The filing is material for insider disclosure purposes but does not, by itself, indicate a monetization or sale of securities.

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

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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^*

Parks Louis A.

(Last) (First) (Middle)

C/O STAR EQUITY HOLDINGS, INC

53 FOREST AVENUE SUITE 101

(Street)

OLD GREENWICH CT 06870

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STAR EQUITY HOLDINGS, INC. [ STRR ]

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

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
Restricted Stock Unit	(1)(2)	08/18/2025		A		485		(3)	(3)	10% Series A Cumulative Perpetual Preferred Stock	485	(1)	485	D

Explanation of Responses:

1. Award of Restricted Stock Units made in accordance with the Company's 2018 Incentive Plan, as amended. The number of Restricted Stock Units granted was determined using the liquidation preference price of STRRP of $10.00.

2. Each Restricted Stock Unit represents the right to receive, at settlement, one share of 10% Series A Cumulative Perpetual Preferred Stock.

3. The Restricted Stock Units granted on August 18, 2025 (the "Grant Date") are scheduled to vest upon the first anniversary of the Grant Date.

Remarks:

	/s/ Hannah Bible, as Attorney-in-Fact	08/18/2025
	** 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 Louis A. Parks report on the Form 4 for STRRP?

The Form 4 reports a grant of 485 Restricted Stock Units on 08/18/2025 that each convert to one share of the 10% Series A Cumulative Perpetual Preferred Stock.

When do the Restricted Stock Units granted to Louis A. Parks vest?

The RSUs are scheduled to vest on the first anniversary of the Grant Date (i.e., approximately 08/18/2026).

What price was used to determine the number of RSUs in the grant?

The number of RSUs was determined using a $10.00 liquidation preference price per share of the Series A preferred stock.

Do the reported RSUs represent immediate sale or cash proceeds?

No. The disclosure shows an award of RSUs with a one-year vesting schedule, not an immediate sale or cash transaction.

Who signed the Form 4 on behalf of the reporting person?

The form was signed by Hannah Bible, as Attorney-in-Fact, on 08/18/2025.