[Form 4] Heidrick & Struggles Inc Insider Trading Activity

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Heidrick & Struggles International Inc. (HSII) 鈥� Form 4 insider activity

Chief Human Resources Officer Sarah Payne reported two transactions affecting her direct ownership of HSII common stock:

March 9 2025 鈥� Acquisition (A): 8,802 shares received at $0.00 upon vesting of 2022 Performance Stock Units (PSUs). These PSUs were granted on 3-9-2022 and vested at 100% of target for the three-year performance period ending 12-31-2024.
March 14 2025 鈥� Sale (S): 12,000 shares sold on the open market at a weighted-average price of $42.7009 (price band $42.45-$43.03).

After the transactions, Payne鈥檚 direct ownership decreased from 32,384.261 to 20,384.261 shares, a decline of roughly 37 %.

The acquisition confirms that the company met performance goals sufficient to vest the PSUs (0-200% payout range), signalling target-level achievement. The subsequent discretionary sale represents a moderate cash-out by a senior officer and may be viewed by investors as routine diversification unless part of a Rule 10b5-1 plan (not indicated).

No derivative securities were reported, and there is no mention of additional option exercises or grants.

Key takeaways for investors:

Vesting of PSUs suggests performance objectives for 2022-2024 were met.
Sizeable insider sale (鈮� $512k in proceeds) reduces insider ownership.
Net effect is neutral-to-slightly negative for sentiment, with no direct impact on fundamentals.

Heidrick & Struggles International Inc. (HSII) 鈥� Form 4 雮措秬鞛� 瓯半灅頇滊彊

斓滉碃鞚胳偓毂呾瀯鞛�(颁搁翱) Sarah Payne臧€ HSII 氤错喌欤� 歆侅爲靻岇湢鞐� 鞓來枼鞚� 氙胳箿霊� 瓯挫潣瓯半灅毳� 氤搓碃頄堨姷雼堧嫟:

2025雲� 3鞗� 9鞚� 鈥� 旆摑 (A): 2022雲� 靹标臣欤检嫕雼渼(PSU)鞚� 氩犾姢韺呾溂搿� $0.00鞐� 8,802欤茧ゼ旆摑頄堨姷雼堧嫟. 鞚� PSUs電� 2022雲� 3鞗� 9鞚检棎攵€鞐悩鞐堨溂氅� 2024雲� 12鞗� 31鞚� 膦呺霅橂姅 3雲� 靹标臣旮瓣皠霃欖晥氇╉憸旃橃潣 100%鞐� 雽€頃� 氩犾姢韺呺悩鞐堨姷雼堧嫟.
2025雲� 3鞗� 14鞚� 鈥� 毵る弰 (S): 12,000欤茧ゼ瓿店皽鞁滌灔鞐愳劀 臧€欷戫弶攴� 臧€瓴� $42.7009 (臧€瓴� 氩旍渼 $42.45-$43.03)鞐� 毵る弰頄堨姷雼堧嫟.

鞚� 瓯半灅頉� Payne鞚� 歆侅爲靻岇湢欤检嫕鞚€ 32,384.261欤检棎靹� 20,384.261欤茧 鞎� 37% 臧愳唽頄堨姷雼堧嫟.

鞚措矆旆摑鞚€ 須岇偓臧€ PSU 氩犾姢韺呾棎頃勳殧頃� 靹标臣氇╉憸毳� 雼劚頄堨潓鞚� 頇曥澑鞁滌紲欤茧┌(0-200% 歆€旮� 氩旍渼), 氇╉憸靾橃 雼劚鞚� 鞁滌偓頃╇媹雼�. 鞚错泟鞛勳潣毵る弰電� 瓿犾渼鞛勳洂鞚� 鞝侂嫻頃� 順勱笀頇旊 韴瀽鞛愲摛靷澊鞐愳劀電� 鞚茧皹鞝侅澑鞛愳偘雼り皝頇旊 臧勳＜霅� 靾� 鞛堨溂雮� Rule 10b5-1 瓿勴殟鞚� 鞚茧秬鞚胳 鞐秬電� 氇呾嫓霅橃 鞎婌晿鞀惦媹雼�.

韺岇儩歃濌秾氤搓碃電� 鞐嗢棃鞙茧┌ 於旉皜鞓奠厴頄夓偓雮� 攵€鞐棎雽€頃� 鞏戈笁霃� 鞐嗢姷雼堧嫟.

韴瀽鞛愲ゼ鞙勴暅欤检殧雮挫毄:

PSU 氩犾姢韺呾潃 2022-2024雲� 靹标臣氇╉憸臧€ 雼劚霅橃棃鞚岇潉鞁滌偓頃╇媹雼�.
靸侂嫻頃� 雮措秬鞛� 毵る弰(鞎� $512,000 靾橃澋)電� 雮措秬鞛� 靻岇湢毳� 欷勳榾鞀惦媹雼�.
靾滍毃瓿茧姅韴瀽鞁Μ鞐� 雽€頃� 欷戨鞐愳劀鞎疥皠攵€鞝曥爜鞚措┌, 旮半掣鞝侅澑韼€雿旊韯胳棎電� 歆侅爲鞝侅澑鞓來枼鞚� 鞐嗢姷雼堧嫟.

Insights

TL;DR: Insider vested PSUs, then sold 12k shares; signals goal achievement but trims stake by 37 %.

The filing shows both a performance-based award vesting and a meaningful open-market sale. The vesting confirms HSII hit its 2022-24 performance hurdles, modestly positive for execution. However, the officer liquidated over one-third of holdings at ~$43, generating ~$0.51 million cash. Without a disclosed 10b5-1 plan, investors may perceive a neutral-to-slightly bearish sentiment shift. From a liquidity standpoint, the sale is immaterial to market float, but insider behavior can influence sentiment in a thin-ly followed mid-cap. I view the overall impact as modest, leaning negative on near-term perception.

Heidrick & Struggles International Inc. (HSII) 鈥� Form 4 雮措秬鞛� 瓯半灅頇滊彊

斓滉碃鞚胳偓毂呾瀯鞛�(颁搁翱) Sarah Payne臧€ HSII 氤错喌欤� 歆侅爲靻岇湢鞐� 鞓來枼鞚� 氙胳箿霊� 瓯挫潣瓯半灅毳� 氤搓碃頄堨姷雼堧嫟:

2025雲� 3鞗� 9鞚� 鈥� 旆摑 (A): 2022雲� 靹标臣欤检嫕雼渼(PSU)鞚� 氩犾姢韺呾溂搿� $0.00鞐� 8,802欤茧ゼ旆摑頄堨姷雼堧嫟. 鞚� PSUs電� 2022雲� 3鞗� 9鞚检棎攵€鞐悩鞐堨溂氅� 2024雲� 12鞗� 31鞚� 膦呺霅橂姅 3雲� 靹标臣旮瓣皠霃欖晥氇╉憸旃橃潣 100%鞐� 雽€頃� 氩犾姢韺呺悩鞐堨姷雼堧嫟.
2025雲� 3鞗� 14鞚� 鈥� 毵る弰 (S): 12,000欤茧ゼ瓿店皽鞁滌灔鞐愳劀 臧€欷戫弶攴� 臧€瓴� $42.7009 (臧€瓴� 氩旍渼 $42.45-$43.03)鞐� 毵る弰頄堨姷雼堧嫟.

鞚� 瓯半灅頉� Payne鞚� 歆侅爲靻岇湢欤检嫕鞚€ 32,384.261欤检棎靹� 20,384.261欤茧 鞎� 37% 臧愳唽頄堨姷雼堧嫟.

韺岇儩歃濌秾氤搓碃電� 鞐嗢棃鞙茧┌ 於旉皜鞓奠厴頄夓偓雮� 攵€鞐棎雽€頃� 鞏戈笁霃� 鞐嗢姷雼堧嫟.

韴瀽鞛愲ゼ鞙勴暅欤检殧雮挫毄:

PSU 氩犾姢韺呾潃 2022-2024雲� 靹标臣氇╉憸臧€ 雼劚霅橃棃鞚岇潉鞁滌偓頃╇媹雼�.
靸侂嫻頃� 雮措秬鞛� 毵る弰(鞎� $512,000 靾橃澋)電� 雮措秬鞛� 靻岇湢毳� 欷勳榾鞀惦媹雼�.
靾滍毃瓿茧姅韴瀽鞁Μ鞐� 雽€頃� 欷戨鞐愳劀鞎疥皠攵€鞝曥爜鞚措┌, 旮半掣鞝侅澑韼€雿旊韯胳棎電� 歆侅爲鞝侅澑鞓來枼鞚� 鞐嗢姷雼堧嫟.

06/24/2025 - 04:30 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Payne Sarah

(Last)

(First)

(Middle)

C/O HEIDRICK & STRUGGLES INT'L INC.

233 S. WACKER DR. SUITE 4900

(Street)

CHICAGO

60606

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HEIDRICK & STRUGGLES INTERNATIONAL INC [ HSII ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Human Resources Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽¹⁾	03/09/2025		A		8,802	A	$0⁽²⁾	32,384.261	D
Common Stock⁽³⁾	03/14/2025		S		12,000	D	$42.7009	20,384.261	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Reflects the vesting of 8,802 non-derivative Performance Stock Units ("PSUs") granted on March 9, 2022 ("2022 PSUs") for the three-year performance period ended December 31, 2024 and which are exempt from liability under Section 16(b) of the Securities Exchange Act pursuant to Rule 16b-3(d). PSUs are target-based equity grants that generally vest three years from the grant date if certain performance goals are achieved. The actual amounts to vest at the end of the performance period can range from 0% to 200% of target based on performance.

2. PSUs convert into common stock on a one-for-one basis at the time of vesting.

3. This is the weighted average sales price representing 12,000 shares sold at prices ranging from $42.45 to $43.03 per share. The reporting person undertakes to provide to the SEC staff, the issuer, or a security holder of the issuer the number of shares sold at each price within the price range upon request.

Remarks:

	/s/ Antony Gabriel, Attorney-In-Fact	06/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.

Source:

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