false 0001140102 0001140102 2025-04-02 2025-04-02
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported): April 2, 2025
 
 
hq01.jpg
 
HIREQUEST, INC.
(Exact name of registrant as specified in its Charter)
 
 
Delaware
 
000-53088
 
91-2079472
(State or Other Jurisdiction of
Incorporation or Organization)
 
(Commission
File Number)
 
(I.R.S. Employer
Identification No.)
 
     
111 Springhall Drive, Goose Creek, SC
 
29445
(Address of Principal Executive Offices)
 
(Zip Code)
 
(843) 723-7400
(Registrant’s telephone number, including area code)
 
 
 
(Former name, former address and former fiscal year, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of Each Class
Trading Symbol(s)
Name of Each Exchange on Which Registered
Common Stock, $0.001 par value
HQI
The NASDAQ Stock Market LLC
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 


 
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
Appointment of Chief Financial Officer
 
On April 4, 2025, HireQuest, Inc. (the "Company") appointed, effective May 31, 2025, C. David Hartley to serve as Chief Financial Officer. Mr. Hartley, age 43, has been with the Company since 2020, most recently as Vice President of Operational Finance and Corporate Development. From 2017 until 2019, Mr. Hartley was a Vice President in the investment banking division at D.A. Davidson. Before that, from 2015 to 2017, Mr. Hartley served as a Vice President in the investment banking division at Wunderlich Securities. Before that, from 2011 to 2015, Mr. Hartley served as an Associate in the investment banking division at RBC Capital Markets. Mr. Hartley holds a B.A. from Johns Hopkins University and an MBA from NYU Stern School of Business.
 
The information required by Item 5.02(c)(3) with respect to Mr. Hartley's compensation is unavailable at this time, and the registrant will file an amendment to this form 8-K within four business days after the required information is determined.
 
There are no arrangements between Mr. Hartley and any other persons pursuant to which he was appointed to serve as the Company's Chief Financial Officer. There are no family relationships between Mr. Hartley and any director or executive officer of the Company, and he has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.   
 
Departure of Chief Financial Officer
 
On April 2, 2025, Steve Crane, the Company's Chief Financial Officer, informed the Company of his intention to retire from his role effective May 31, 2025. Mr. Crane's retirement is not the result of any dispute or disagreement with the Company, including with respect to any matters relating to the Company's accounting practices or financial reporting.
 
Item 7.01 Regulation FD Disclosure
 
On April 8, 2025, the Company issued a press release discussing the changes set forth above in Item 5.02. The press release is furnished herewith as Exhibit 99.1.
 
The information in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed subject to the requirements of amended Item 10 of Regulation S-K, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of such information.
 
The information in this report and in Exhibit 99.1 hereto may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. All statements, other than statements of historical or current fact, are statements that could be deemed forward-looking statements, including, without limitation, statements relating to the future efficacy of our management team. Forward-looking statements are based on the current beliefs, assumptions, and expectations of management and current market conditions. There can be no assurance that future results will be in line with expectations, that the Company will grow, that the transition of the CFO position will be fully successful, or that the transition discussed herein will lead to shareholder value creation.
 
Item 9.01 Financial Statements and Exhibits.
 
Exhibit Index
 
Exhibit
Description
104
Cover Page Interactive Data File (embedded within the Inline XBRL document).
 


 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, hereunto duly authorized.
 
         
   
HIREQUEST, INC.
   
(Registrant)
     
         
     
Date: April 8, 2025
     
/s/ John McAnnar
       
John McAnnar
       
Chief Legal Officer, Vice President, and Corporate Secretary
 
 
EX-99.1 2 ex_799759.htm EXHIBIT 99.1 ex_799759.htm

Exhibit 99.1

 

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HireQuest Announces Executive Transition

Steve Crane to Retire as CFO May 31

David Hartley to Succeed Crane as CFO

 

GOOSE CREEK, South Carolina – April 8, 2025 – HireQuest, Inc. (Nasdaq: HQI), a national franchisor of direct dispatch, executive search, and commercial staffing services, today announced that Steve Crane will retire from his role as Chief Financial Officer (CFO) effective May 31, 2025. David Hartley, currently the Company’s Vice President of Operational Finance and Corporate Development, will succeed Crane as CFO. In the coming weeks, Crane will support the transition to his successor and contribute to certain strategic initiatives and special projects.

 

Rick Hermanns, HireQuest President and CEO, said, “We are grateful to Steve for his contributions to the Company. His deep experience and leadership brought meaningful development to the accounting and finance department and we wish him well in his future endeavors.

 

“David’s business and financial acumen is extremely impressive,” continued Hermanns. “His leadership within the Finance department, thorough understanding of our strategic initiatives, and role as main architect of the more than fifteen acquisitions we have completed over the past several years give him the experience and knowledge needed to create value for our shareholders and continue our growth trajectory. We are proud to welcome him as CFO.

 

“Continuity is important, and this planned transition follows multiple years of preparation. We believe our leadership team is the right group to lead us into the future. Steve’s efforts in the next several weeks, along with the support of Cory Smith, our Chief Accounting Officer who has been with us since 2016, will ensure a smooth transition.”

 

David Hartley joined HireQuest in 2020 to head the Company’s acquisition team and execute its growth strategy. He was subsequently appointed to oversee the Operational Finance department within the greater Finance team. His deep understanding of HireQuest’s business, strong track record of operational and financial leadership, and background in investment banking make him well-suited to serve as CFO.

 

David Hartley said, “I am excited for my new CFO role and the opportunity to execute our growth strategy and other strategic initiatives as we continue to focus on shareholder value.”

 

Steve Crane added, “It has been my pleasure to have been HireQuest’s CFO alongside an excellent team. I am proud to leave the Company in a strong financial position and believe the time is right for me to retire. I have worked closely with David in the past few years and believe firmly in his abilities. I look forward to assisting in this transition.”

 

About HireQuest

 

HireQuest is a franchisor of staffing solutions with a presence across the U.S. and international markets. Through its primary divisions—HireQuest Direct, HireQuest Health, MRINetwork, Snelling, and TradeCorp - the company provides temporary, direct-hire, and contract staffing solutions across industries, including construction, light industrial, healthcare, finance, manufacturing, cybersecurity, and engineering. From on-demand staffing to executive search, HireQuest’s divisions operate as one team for our customers -delivering workforce solutions that drive growth and change lives. For more information, visit www.hirequest.com

 

Important Cautions Regarding Forward-Looking Statements

 

This news release includes, and the company’s officers and other representatives may sometimes make or provide certain estimates and other forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Exchange Act, including, among others, statements with respect to future economic conditions, future revenue or sales and the growth thereof; operating results; anticipated benefits of acquisitions, or the status of integration of those entities; the declaration, or not, of future dividends; and other similar statements. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods.

 

While the company believes these statements are accurate, forward-looking statements are not historical facts and are inherently uncertain. They are based only on the company’s current beliefs, expectations, and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. The company cannot assure you that these expectations will occur, and its actual results may be significantly different. Therefore, you should not place undue reliance on these forward-looking statements. Important factors that may cause actual results to differ materially from those contemplated in any forward-looking statements made by the company include the following: the level of demand and financial performance of the temporary staffing industry; the financial performance of the company’s franchisees; changes in customer demand; economic uncertainty caused by macroeconomic trends including potential inflation or a recessionary environment; uncertainty in the supply chain or economy caused by Russia’s invasion of Ukraine, the war between Israel and Palestine, or other global conflict; the relative success or failure of acquisitions and new franchised offerings; our success in reducing workers’ compensation expenses; the extent to which the company is successful in gaining new long-term relationships with customers or retaining existing ones, and the level of service failures that could lead customers to use competitors’ services; significant investigative or legal proceedings including, without limitation, those brought about by the existing regulatory environment or changes in the regulations governing the temporary staffing industry and those arising from the action or inaction of the company’s franchisees and temporary employees; strategic actions, including acquisitions and dispositions and the company’s success in integrating acquired businesses including, without limitation, successful integration following any of our various acquisitions; success or failure in determining how to allocate capital; disruptions to the company’s technology network including computer systems and software; natural events such as severe weather, fires, floods, and earthquakes, or man-made or other disruptions of the company’s operating systems; and the factors discussed in the “Risk Factors” section and elsewhere in the company’s most recent Annual Report on Form 10-K and the quarterly reports on Form 10-Q filed thereafter.

 

Any forward-looking statement made by the company or its management in this news release is based only on information currently available to the company and speaks only as of the date on which it is made. The company and its management disclaim any obligation to update or revise any forward-looking statement, whether written or oral, that may be made from time to time, based on the occurrence of future events, the receipt of new information, or otherwise, except as required by law.

 

 

Company Contact:          

HireQuest, Inc.         

David Hartley, Vice President of Corporate Development         

(800) 835-6755         

Email: cdhartley@hirequest.com

 

Investor Relations Contact:

IMS Investor Relations

John Nesbett/Jennifer Belodeau

(203) 972-9200

Email: hirequest@imsinvestorrelations.com