CEO Eberwein exchanges preferred shares for common; amended contract removes change-in-control severance

Star Equity Holdings, Inc.

Exchanged 320,855 Series A Preferred shares for 287,631 common shares at $10.43/share (closing bid price).
After exchange, Eberwein holds 26.15% of common stock and 34.19% of preferred stock outstanding.
Amended employment agreement extends CEO term to Dec 31, 2026, with annual auto-renewals; base salary remains $500,000.
Removed obligation for severance or additional term upon a Change in Control; cash/RSU bonus replaced by discretionary bonus.
Termination without cause or non-renewal entitles Eberwein only to earned but unpaid compensation, subject to release.

item 5.02 item 3.02 item 9.01

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