TLF director gains shares via RSU vesting, grant

TANDY LEATHER FACTORY INC director John Richmond Sullivan increased his holdings through equity compensation.

Accepted by SEC EDGAR 06/11/2026 - 12:52 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

TANDY LEATHER FACTORY INC director John Richmond Sullivan increased his holdings through equity compensation. On June 9, 2026, 4,336 restricted stock units converted into an equal number of common shares following accelerated vesting, and the Board granted him an additional 6,035 common shares.

After the RSU conversion, one line in the filing shows Sullivan holding 10,371 common shares directly, reflecting routine compensation-related equity rather than open-market buying or selling.

Insider Trade Summary

4,336 shares exercised/converted

Exercise 3 txns

Insider Sullivan John Richmond

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	4,336	$0.00	$0.00
Grant/Award	Common Stock	6,035	$0.00	$0.00
Exercise	Common Stock	4,336	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock — 10,371 shares (Direct)

Holdings Before and After: Restricted Stock Unit, 4,336 to 0 contracts (Direct); Common Stock, 0 to 10,371 shares (Direct)

Footnotes (3)

1. F1. Represents common stock awarded by the Board of Directors on June 9, 2026.
2. F2. Each restricted stock unit converts into one share of TLF common stock.
3. F3. On June 10, 2025, the reporting person was granted 4,336 restricted stock units vesting in four annual installments. On June 9, 2026, the Administrative Committee accelerated vesting of all unvested restricted stock units.

Key Figures

RSU conversion: 4,336 shares Stock award: 6,035 shares Shares after RSU transaction: 10,371 shares +2 more

5 metrics

RSU conversion 4,336 shares Restricted stock units converting to common stock on June 9, 2026

Stock award 6,035 shares Common stock awarded by Board on June 9, 2026

Shares after RSU transaction 10,371 shares Direct common stock holdings following RSU conversion

Derivative exercise count 1 transaction Exercise or conversion of derivative security (RSUs)

Exercise shares 4,336 shares Shares acquired via derivative exercise/conversion

Key Terms

Restricted Stock Unit, Exercise or conversion of derivative security, Grant, award, or other acquisition, Administrative Committee accelerated vesting

4 terms

Restricted Stock Unit financial

"security_title: "Restricted Stock Unit" with 4,336.0000 shares converting into common stock"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security" for RSU transaction"

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition" for 6,035-share stock award"

Administrative Committee accelerated vesting financial

"footnote: "the Administrative Committee accelerated vesting of all unvested restricted stock units""

FAQ

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

What insider transactions did TANDY LEATHER FACTORY (TLF) report for John Richmond Sullivan?

John Richmond Sullivan reported equity compensation-related acquisitions. On June 9, 2026, 4,336 restricted stock units converted into common stock and he received a separate grant of 6,035 common shares, all recorded as direct ownership rather than open-market trades.

Did the TLF Form 4 show John Richmond Sullivan buying or selling shares on the market?

The Form 4 does not show open-market buying or selling. It reports an RSU conversion of 4,336 shares and a stock award of 6,035 shares, both at a stated price of $0.00 per share, reflecting compensation instead of discretionary trading activity.

How many TANDY LEATHER FACTORY (TLF) shares did Sullivan receive from restricted stock units?

Sullivan received 4,336 TANDY LEATHER FACTORY common shares from restricted stock units. Each restricted stock unit converted into one share after the Administrative Committee accelerated vesting of all unvested units granted to him on June 10, 2025, according to the footnotes.

What stock award did the TLF Board grant to John Richmond Sullivan?

The Board of Directors awarded Sullivan 6,035 shares of TANDY LEATHER FACTORY common stock. The award date was June 9, 2026, and the Form 4 lists these shares as directly owned, with a transaction price of $0.00 per share, indicating a compensation grant.

How many TLF shares does Sullivan hold after the RSU conversion reported in the Form 4?

One line in the Form 4 shows Sullivan directly holding 10,371 TANDY LEATHER FACTORY common shares after the 4,336-share RSU conversion. This figure reflects his position following that specific transaction, separate from the additional 6,035-share award line.

What happened to the restricted stock units previously granted to Sullivan by TLF?

Restricted stock units granted to Sullivan on June 10, 2025 vested early. The Administrative Committee accelerated vesting of all unvested units, and on June 9, 2026, 4,336 restricted stock units converted into 4,336 common shares, exhausting that RSU grant according to the filing.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

Sullivan John Richmond

(Last) (First) (Middle)

7602 SW LOOP 820

(Street)

BENBROOK TEXAS 76126

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TANDY LEATHER FACTORY INC [ TLF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/09/2026		A		6,035(1)	A	$0(1)	6,035	D
Common Stock	06/09/2026		M		4,336	A	(2)	10,371	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
Restricted Stock Unit	(2)	06/09/2026		M			4,336	(3)	(3)	Common Stock	4,336	$0	0	D

Explanation of Responses:

1. Represents common stock awarded by the Board of Directors on June 9, 2026.

2. Each restricted stock unit converts into one share of TLF common stock.

3. On June 10, 2025, the reporting person was granted 4,336 restricted stock units vesting in four annual installments. On June 9, 2026, the Administrative Committee accelerated vesting of all unvested restricted stock units.

	/s/ Ashley Dagley, Attorney-in-fact for John Richmond Sullivan	06/11/2026
	** 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.
* Form 4: SEC 1474 (03-26)