Kelly Services, Inc.
A staffing and workforce solutions company that places temporary, permanent, and outsourced workers with employers across dozens of industries. It was founded in 1946 in Detroit by William Russell Kelly, who started it as "Kelly Services" supplying typists and office clerks. The company's famous "Kelly Girl" brand of temporary office workers helped invent the modern temp-agency business, and the name endures today.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law.
| Holder | Schedule | % of class | Shares | Filed |
|---|---|---|---|---|
| Hunt Equity Opportunities, LLC | 13D/AActivist | 92.2% | 3.04M | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||
| HEO Finance, LLC | 13D/AActivist | 92.2% | 3.04M | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||
| Hunt ELP, Ltd. | 13D/AActivist | 92.2% | 3.04M | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||
| HB GP, LLC | 13D/AActivist | 92.2% | 3.04M | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||
| Hunt Company, LLC | 13D/AActivist | 92.2% | 3.04M | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||
| Hunt Companies, Inc. | 13D/AActivist | 92.2% | 3.04M | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||
| Woody L. Hunt | 13D/AActivist | 92.2% | 3.04M | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||
| Liechtensteinische Landesbank Aktiengesellschaft | 13GPassive | 5.11% | 1.58M | May 19, 2026 |
| LLB Fund Services AG | 13GPassive | 5.11% | 1.58M | May 19, 2026 |
| James Christopher Hunt | 13D/AActivist | 0% | 100 | May 19, 2026 |
Item 4 of the Original Schedule 13D is hereby amended and supplemented by adding the following: The Reporting Persons have requested that the Board of Directors of the Issuer (the "Board") form a special committee of independent and disinterested directors (the "Special Committee"), fully empowered to retain its own independent legal and financial advisors, so that the Issuer is prepared to discuss and evaluate one or more possible transactions involving the Issuer and affiliate(s) of certain of the Reporting Persons (the "Potential Transactions"). In the course of such discussions, the Reporting Persons may share information or analyses with respect to, or discuss potential terms of, the Potential Transactions with representatives of the Issuer (including the Special Committee, when formed). A copy of the letter delivered by the Reporting Persons to the Board on May 19, 2026, is attached hereto as Exhibit 99.2 and incorporated herein by reference (the "Letter"). In connection with this request, the Reporting Persons confirmed that any Potential Transaction would be pursued only in accordance with the terms of the Letter Agreement, dated January 30, 2026, by and between the Issuer and Hunt Opportunities. As of the date hereof, no Reporting Person has made a proposal with respect to any Potential Transaction. The Reporting Persons expect that there may be additional discussions between the Reporting Persons and representatives of the Issuer (including the Special Committee) regarding the Potential Transactions and related matters. There can be no assurance that (a) any proposal will be made or (b) if a proposal is made, (i) as to the terms of any such proposal, (ii) that any such proposal will be approved by the Special Committee, (iii) that any definitive agreement will be entered into or (iv) that any Potential Transaction will be consummated. A Potential Transaction, if consummated, may result in one or more of the transactions, events or actions specified in clauses (a) through (j) of Item 4 of Schedule 13D, including, without limitation, the acquisition of a business by the Issuer, the issuance of additional securities of the Issuer, and other material changes in the Issuer's business, corporate structure, or capitalization. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may, depending on various factors, take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in discussions with the Board, the Special Committee (if formed), and their respective advisors; acquiring additional securities of the Issuer or disposing of securities of the Issuer; and otherwise changing their intention with respect to any and all matters referred to in Item 4 of Schedule 13D. The Letter contains forward-looking statements that involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied. Past performance is not indicative of future results, and there can be no assurance that any particular result, performance, or outcome will be achieved. Except as set forth in this Amendment, the Reporting Persons do not currently have any plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. However, the Reporting Persons may at any time modify their plans, formulate other proposals, or take any other actions with respect to their investment in the Issuer, in each case subject to applicable law. | ||||