Tandy Leather CEO exercises 100,000 RSUs

TANDY LEATHER FACTORY INC Chief Executive Officer Lars Johan Hedberg reported routine equity compensation activity involving restricted stock units and common stock.

Rhea-AI Filing Summary

TANDY LEATHER FACTORY INC Chief Executive Officer Lars Johan Hedberg reported routine equity compensation activity involving restricted stock units and common stock. On February 18, 2026, 100,000 restricted stock units were exercised into 100,000 shares of common stock. In connection with this vesting, 39,350 shares were withheld to cover the holder’s tax obligations, a non-market disposition that does not reflect an open-market sale. After these transactions, Hedberg directly holds 60,350 shares of common stock. No remaining derivative securities are shown after this full RSU conversion.

Insider Trade Summary

100,000 shares exercised/converted

Exercise 3 txns

Insider Hedberg Lars Johan

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	100,000	$0.00	$0.00
Exercise	Common Stock	100,000	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	39,350	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock — 60,350 shares (Direct)

Footnotes (3)

1. F1. These shares were withheld to pay the holder's tax obligations upon conversion of the restricted stock units.
2. F2. Shares received upon the vesting of restricted stock units
3. F3. These securities do not expire

Key Figures

RSUs exercised: 100,000 units Shares withheld for taxes: 39,350 shares Shares held after transaction: 60,350 shares +2 more

5 metrics

RSUs exercised 100,000 units Restricted Stock Units converted to common stock on February 18, 2026

Shares withheld for taxes 39,350 shares Tax-withholding disposition related to RSU conversion on February 18, 2026

Shares held after transaction 60,350 shares Common stock directly owned by CEO following non-derivative transaction

Derivative securities remaining 0 units No remaining RSUs shown after 100,000-unit conversion

RSU exercise date February 18, 2026 Date of RSU conversion and related tax withholding

Key Terms

Restricted Stock Units, tax obligations, derivative security, tax-withholding disposition

4 terms

Restricted Stock Units financial

"security_title: "Restricted Stock Units" with 100,000.0000 units converted"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax obligations financial

"These shares were withheld to pay the holder's tax obligations upon conversion"

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

tax-withholding disposition financial

"transaction_action: "tax-withholding disposition" for 39,350.0000 shares"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

FAQ

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

What insider transactions did Tandy Leather Factory (TLF) report for its CEO?

Tandy Leather Factory’s CEO, Lars Johan Hedberg, exercised 100,000 restricted stock units into common stock and had 39,350 shares withheld for taxes. Following these compensation-related transactions, he directly holds 60,350 shares of common stock according to the Form 4 disclosure.

Did the Tandy Leather (TLF) CEO buy or sell shares on the open market?

The Form 4 does not show any open-market purchases or sales. It reports an RSU vesting into 100,000 common shares and a 39,350-share withholding to satisfy tax obligations, which is a non-market disposition rather than a voluntary sale transaction.

How many Tandy Leather Factory (TLF) shares does the CEO hold after this Form 4?

After the reported RSU exercise and tax withholding, CEO Lars Johan Hedberg directly holds 60,350 shares of Tandy Leather Factory common stock. This figure comes from the Form 4 line item showing total shares owned following the non-derivative tax-withholding transaction.

What does the 39,350-share disposition in Tandy Leather’s Form 4 represent?

The 39,350-share disposition is a tax-withholding event, not an open-market sale. Shares were withheld to pay the CEO’s tax obligations upon conversion of restricted stock units, as described in the Form 4 footnote, using transaction code F for tax-related share delivery.

What happened to the CEO’s restricted stock units (RSUs) at Tandy Leather (TLF)?

On February 18, 2026, 100,000 restricted stock units were converted into 100,000 shares of Tandy Leather common stock. After this vesting and associated tax withholding, the Form 4 shows no remaining RSUs, indicating a full conversion of that RSU grant.

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

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Accepted by SEC EDGAR 05/01/2026 - 05:53 PM Learn about SEC filing dates

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^*

Hedberg Lars Johan

(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
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
02/18/2026

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	02/18/2026		M		100,000(2)	A	$0	100,000	D
Common Stock	02/18/2026		F(1)		39,350	D	$0	60,350	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 Units	$0	02/18/2026		M			100,000	02/18/2026	01/01/2036(3)	Common Stock	100,000	$0	0	D

Explanation of Responses:

1. These shares were withheld to pay the holder's tax obligations upon conversion of the restricted stock units.

2. Shares received upon the vesting of restricted stock units

3. These securities do not expire

	Daniel J Ross	05/01/2026
	** 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)