SCHEDULE: Brand Engagement Network Inc. - Schedule 13G Filing

AFG Companies, Inc. and Ralph Wright Brewer III report beneficial ownership of 1,000 shares of Brand Engagement Network Inc. common stock, representing 0.0% of the class, as of March 31, 2026.

Summary

• AFG Companies, Inc. and Ralph Wright Brewer III have filed a Schedule 13G, indicating their beneficial ownership of Brand Engagement Network Inc. common stock.
• As of March 31, 2026, the reporting persons collectively beneficially owned 1,000 shares.
• This ownership represents 0.0% of the total class of common stock.
• The filing notes that from March 14, 2024, AFG Companies, Inc. beneficially owned more than 5% of the Issuer's common stock, but this percentage fell below 5% following dispositions in the first calendar quarter of 2026.
• The reported shares exclude 49,333 shares owned by Genuine Lifetime, LLC, which were pledged to AFG Companies, Inc. as security for a note currently under litigation.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this filing as neutral to slightly negative due to the minimal reported ownership and the exclusion of shares due to ongoing litigation, indicating a reduced or non-significant stake and potential unresolved issues.

Positives

• The reporting persons have disclosed their beneficial ownership, adhering to regulatory requirements.
• The filing indicates that dispositions have occurred, potentially reducing the reporting persons' stake below a threshold that requires more detailed reporting.

Negatives

• The beneficial ownership reported is a very small percentage (0.0%) of the total class of securities.
• The exclusion of 49,333 shares due to ongoing litigation introduces uncertainty and a potential contingent claim.

Risks

• The 49,333 shares owned by Genuine Lifetime, LLC, pledged to AFG Companies, Inc. as security, are subject to litigation, creating a potential risk or loss if the litigation is not resolved favorably for AFG Companies, Inc.

Future Outlook

The filing does not contain specific forward-looking statements or guidance regarding future share ownership or company performance. It primarily reports on past and present beneficial ownership status.

Management Comments

• From and after March 14, 2024, as previously disclosed by the Issuer, AFG Companies, Inc. beneficially owned more than 5% of the Issuer's common stock.
• Following dispositions that occurred during the first calendar quarter of 2026, the percentage of the Issuer's common stock beneficially owned by AFG Companies, Inc. fell below 5%.
• Ralph Wright Brewer III is the Chairman of the Board of AFG Companies, Inc. ('AFG').
• Mr. Brewer shares with AFG voting and dispositive power with respect to the Issuer's common stock beneficially owned by AFG.
• Mr. Brewer individually beneficially owned additional shares that amounted to less than 0.4% of the Issuer's common stock.
• The number of shares reported in rows (6), (8), and (9) excludes 49,333 shares owned by Genuine Lifetime, LLC that were pledged to AFG Companies, Inc. as security for a note that is currently the subject of litigation.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for institutional investors or individuals who acquire beneficial ownership of more than 5% of a class of a company's registered equity securities. This filing indicates a reduction in ownership below that threshold by AFG Companies, Inc. and Ralph Wright Brewer III, suggesting a potential shift in their investment position in Brand Engagement Network Inc.

Legal Proceedings

• The 49,333 shares owned by Genuine Lifetime, LLC, pledged to AFG Companies, Inc. as security for a note, are the subject of ongoing litigation.

Stakeholder Impact

• Shareholders: The minimal reported ownership by AFG Companies, Inc. and Ralph Wright Brewer III suggests they are no longer significant holders, which may reduce their influence on corporate decisions. The ongoing litigation related to pledged shares could indirectly impact the company's reputation or financial standing if it escalates.

Next Steps

• AFG Companies, Inc. and Ralph Wright Brewer III will continue to monitor their beneficial ownership levels and file amendments to Schedule 13G as required by SEC regulations.

Key Dates

Keywords

Schedule 13G, Beneficial Ownership, Brand Engagement Network Inc., AFG Companies, Inc., Ralph Wright Brewer III, SEC Filing, Securities Exchange Act, Common Stock