11/13/2025 | Press release | Distributed by Public on 11/13/2025 15:47
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| 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 control number. | SEC 1474 (9-02) | ||
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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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | (1) | 11/11/2025 | M | 101,667 | (1) | (1) | Common Stock | 101,667 | (1) | 0 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Hayden Phillip Brady 8484 GEORGIA AVENUE SUITE 700 SILVER SPRING, MD 20910 |
Chief Financial Officer | |||
| /s/ P. Brady Hayden | 11/13/2025 | |
| **Signature of Reporting Person | Date |
| * | 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). |
| (1) | On October 9, 2024, the Company granted Brady Hayden 152,500 performance-based restricted stock units ("RSUs") under the 2020 Omnibus Incentive Plan (the "Award"). Each RSU represents a contingent right to receive one share of common stock. On May 7, 2025, the Board determined that the Company met the first performance condition of the Award, for having then achieved more than $4,500,000 in adjusted free cash flow since October 1, 2024, and thereby triggering the vesting of one-third of the Award, or 50,833 RSUs. On November 11, 2025, the Board determined that the Company met the second performance condition of the Award, by achieving more than $9,000,000 in adjusted free cash flow between October 1, 2024 and September 30, 2025, and thereby triggering the vesting of two-thirds of the Award, or 101,667 RSUs. |
| (2) | Reflects the exempt transfer of 101,667 shares from Mr. Hayden to P. Brady Hayden Revocable Trust on November 12, 2025 for no consideration. The reporting person is trustee of the trust, and the reporting person is the sole beneficiary of the trust. The reporting person remains the beneficial owner of the securities held by the trust. |