Tile Shop (NASDAQ: TTSH) executive forfeits 17,362 performance-based shares
Rhea-AI Filing Summary
Tile Shop Holdings SVP and Chief Merchant Officer Joseph Kinder reported the forfeiture of 17,362 shares of performance-based restricted common stock, which were returned to the issuer after applicable performance targets for 2023–2025 grants were not achieved.
After this disposition to the issuer, Kinder directly holds 89,479 shares of common stock, including time-based and performance-based restricted stock with future vesting and performance conditions. He also holds stock options covering 26,900 and 50,000 shares, respectively, as of the reported date.
A prior reverse stock split on December 15, 2025 resulted in cash being paid for 600 shares of common stock previously held by Kinder’s spouse, on the same basis as other stockholders.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 17,362 shares
Net Sell
3 txns
Insider
KINDER JOSEPH
Role
SVP, Chief Merchant Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 17,362 | $0.00 | $0.00 |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
Holdings After Transaction:
Common Stock — 89,479 shares (Direct);
Stock Option (Right to Buy) — 76,900 shares (Direct)
Footnotes (5)
- F1. Represents forfeiture of unvested performance-based restricted stock granted in 2023, 2024 and 2025 as a result of the applicable performance targets not being achieved.
- F2. Includes (i) 3,086 shares of restricted stock for which the risks of forfeiture will lapse on 3/6/26; (ii) 5,041 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 3/4/26 and 3/4/27; (iii) 9,028 shares of restricted stock for which the risks of forfeiture will lapse in equal annual installments on each of 3/3/26, 3/3/27 and 3/3/28; and
- F3. (iv) the following shares of performance-based restricted stock, which are, in each case, subject to Mr. Kinder remaining in continuous employment with the Issuer through December 31 of the year preceding the applicable vesting date and the Issuer achieving its performance target for each respective year: (A) 6,049 shares for which the risks of forfeiture will lapse on the date the Issuer releases its annual financial statements for the 2026 fiscal year; and (B) 12,638 shares for which the risks of forfeiture will lapse as to 30% and 40% of the initial number of shares granted on each of the dates the Issuer releases its annual financial statements for the 2026 and 2027 fiscal years, respectively. The Issuer's Form 10-K for the year ended December 31, 2025 contains additional information regarding the applicable performance targets.
- F4. A reverse stock split on December 15, 2025 resulted in cash paid for 600 shares of the Issuer's common stock previously held by Mr. Kinder's spouse on a pre-reverse stock split basis, on the same basis as the Issuer's other stockholders.
- F5. Fully exercisable.
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FAQ
What insider transaction did TTSH executive Joseph Kinder report on this Form 4?
Joseph Kinder reported forfeiting 17,362 shares of performance-based restricted common stock, returned to Tile Shop Holdings after related performance targets were not achieved. This disposition reduced only unvested awards rather than involving an open-market sale of shares.
What future vesting conditions apply to Joseph Kinder’s Tile Shop restricted stock?
Kinder’s restricted shares include time-based tranches vesting on March 3, March 4 and March 6 in 2026–2028, plus performance-based tranches. These performance shares vest only if he remains employed and Tile Shop achieves annual performance targets described in its Form 10-K.
What Tile Shop stock options does Joseph Kinder hold according to this Form 4?
The filing shows Kinder holding two stock option positions labeled as rights to buy Tile Shop common stock. After the reporting date, these options cover 26,900 shares and 50,000 shares, respectively, both held directly, separate from his restricted and unrestricted common stock.
How did Tile Shop’s reverse stock split affect Joseph Kinder’s household holdings?
A reverse stock split on December 15, 2025 resulted in cash being paid for 600 shares of Tile Shop common stock previously held by Kinder’s spouse. The cash treatment occurred on the same basis as for all other stockholders in the reverse split.