KINDER JOSEPH 4
4 · TILE SHOP HOLDINGS, INC. · Filed Feb 27, 2026
Research Summary
AI-generated summary of this filing
Tile Shop (TTSH) SVP Joseph Kinder Forfeits 17,362 Shares
What Happened
Joseph Kinder, SVP and Chief Merchant Officer of Tile Shop Holdings, reported a disposition to the issuer on 2026-02-26: 17,362 shares were disposed at $0.00 per share (no cash proceeds). Footnote F1 states these were forfeitures of unvested, performance-based restricted stock grants from 2023–2025 because the applicable performance targets were not achieved. The Form 4 was filed on 2026-02-27.
Key Details
- Transaction date and type: 2026-02-26 — Disposition to issuer (forfeiture), 17,362 shares @ $0.00.
- Proceeds: $0 (forfeiture/cancellation of unvested awards).
- Filing date: 2026-02-27 (timely; not reported late).
- Shares owned after transaction: not specified in the Form 4 (filing lists other restricted/award balances in footnotes).
- Notable footnotes:
- F1: Forfeiture of unvested performance-based restricted stock (2023–2025 grants).
- F2: Lists other restricted stock awards with scheduled lapse-of-forfeiture dates (3,086; 5,041; 9,028 shares across various vesting schedules).
- F3: Lists remaining performance-based restricted stock that may vest if future performance targets and service conditions are met (6,049 and 12,638 shares with specific vesting triggers).
- F4: Reverse split cash-out of 600 pre-split shares held by spouse.
- F5: Indicates certain awards/options are fully exercisable (as applicable in the filing).
- This was not an open-market sale, option exercise, or gift — it was a forfeiture/cancellation.
Context
Forfeiture of unvested, performance-based restricted stock occurs when pre-set performance metrics aren’t met; it generates no proceeds and reduces potential future holdings. This is administrative/compensation-related and should not be read as an insider selling shares for liquidity. The issuer’s 2025 Form 10-K contains additional details on the applicable performance targets referenced in the filing.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2][F3][F4]2026-02-26−17,362→ 89,479 total
- 26,900
Stock Option (Right to Buy)
[F5]Exercise: $8.50Exp: 2027-11-06→ Common Stock (26,900 underlying) - 50,000
Stock Option (Right to Buy)
[F5]Exercise: $8.80Exp: 2028-07-20→ Common Stock (50,000 underlying)
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.