Kelly Services trust sells $106 million stake to Hunt Equity

Kelly Services Inc. (NASDAQ: KELYA) announced that the Terence E. Adderley Revocable Trust K entered into a share purchase agreement to sell its entire Class B stock holdings to Hunt Equity Opportunities, LLC.

The transaction involves the sale of 3,039,940 shares of Class B stock for $106 million. The agreement includes an additional cash payment of $15.2 million if Kelly Services achieves a market capitalization of at least $1.2 billion within 48 months following the closing.

The sale is expected to close on or before January 30, 2026, subject to closing conditions. Following completion, Trust K and trustees Mr. Larsen and Mr. Parfet will no longer own any Class B stock in the company.

Trustee Mr. Curoe will no longer be considered the beneficial owner of Trust K's shares after the transaction but may continue to hold beneficial ownership of 42,825 Class B shares through other trusts where he serves as trustee or co-trustee.

The information was disclosed in an amendment to Schedule 13D filing, with the full purchase agreement included as an exhibit to the filing.

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