Form 4: Engaged Capital and Glenn Welling Report Changes in Beneficial Ownership of BRC Inc. (BRCC)

Engaged Capital and Glenn Welling file Form 4, reporting changes in beneficial ownership of BRC Inc. stock due to restricted stock unit awards and holdings by related entities.

Summary

• This Form 4 filing reports changes in the beneficial ownership of BRC Inc. (BRCC) Class A Common Stock by Glenn W. Welling, Engaged Capital, and related entities.
• The filing indicates that Glenn W. Welling received 53,887 restricted stock units under the 2022 Omnibus Incentive Plan.
• These restricted stock units consist of 33,512 units vesting on the first anniversary of the grant date and 20,375 units vesting in equal quarterly installments until the first anniversary.
• Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock upon settlement for no consideration.
• Engaged Capital Flagship Master Fund, LP directly owns 12,851,018 shares of Class A Common Stock.
• The Welling Family Trust holds 506,092 shares of Class A Common Stock.
• The reporting persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of BRC Inc.'s outstanding Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are a standard part of regulatory compliance for individuals and entities with significant ownership in publicly traded companies, providing transparency into changes in their holdings.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure and changes in holdings of key insiders.

Key Dates