Form 4: BRC Inc. Director Thomas Davin Reports Securities Transactions
SEC Form 4 Filing
Thomas Davin, a director and 10% owner of BRC Inc., reported the exchange and disposal of Class A and Class B common stock and common units on September 10, 2024.
Summary
- On September 10, 2024, Thomas Davin, a director and 10% owner of BRC Inc. (BRCC), engaged in transactions involving Class A and Class B common stock and common units of Authentic Brands LLC.
- Davin exchanged 41,844 common units of Authentic Brands LLC for an equivalent number of shares of Class A Common Stock of BRC Inc. and forfeited an equivalent number of Class B Shares.
- Specifically, 17,230 common units were exchanged for 17,230 shares of Class A Common Stock, and 24,614 common units were exchanged for 24,614 shares of Class A Common Stock.
- Davin also disposed of 17,230 shares of Class A Common Stock at a price of $3.75 per share and 24,614 shares of Class A Common Stock at a price of $3.75 per share.
- Following these transactions, Davin directly owns 15,851 shares of Class A Common Stock and indirectly owns 0 shares of Class A Common Stock held through an LLC.
- Davin directly owns 7,066,642 shares of Class B Common Stock and indirectly owns 1,171,792 shares of Class B Common Stock held through an LLC.
- The common units can be exchanged for Class A Common Stock (or the cash value thereof, at the election of the Issuer) at any time.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document is a standard SEC filing reporting insider transactions, with no inherent positive or negative implications.
Industry Context
Form 4 filings are standard disclosures required by the SEC for insiders (directors, officers, and principal stockholders) to report transactions in their company's stock, providing transparency to the market.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership of Class A Common Stock.
- The transactions do not appear to have a direct impact on employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 08/09/2022 | Date exercisable for Common Units |
| 09/10/2024 | Date of earliest transaction (exchange and disposal of securities) |
| 09/12/2024 | Date of signature for the Form 4 filing |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.