SCHEDULE: Maury Avi Epstein Discloses 8.99% Stake in BRC Inc.

Maury Avi Epstein has reported beneficial ownership of 8.99% of BRC Inc.'s Class A common stock, primarily through redeemable Class B shares.

Summary

• Maury Avi Epstein, acting as a trustee and manager of certain entities, has filed a Schedule 13G disclosing beneficial ownership in BRC Inc.
• The Reporting Person beneficially owns 11,241,218 shares of Class A common stock, representing 8.99% of the class.
• This ownership includes 11,241,218 Class A Shares issuable upon redemption of an equal number of Class B Common Stock and common membership interests in Authentic Brands LLC (Common Units) on a one-to-one basis.
• The percentage of ownership is calculated based on 113,820,789 Class A Shares outstanding as of July 28, 2025, as reported in BRC Inc.'s Form 10-Q filed on August 4, 2025, plus the 11,241,218 Class A Shares issuable to the Reporting Person.
• As of July 28, 2025, BRC Inc. also had 134,404,261 Class B Shares outstanding, indicating that the reported ownership percentage may not fully represent the Reporting Person's actual voting power.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not inherently convey positive or negative sentiment beyond the act of reporting a significant stake. The note about voting power dilution is a factual observation, not a negative sentiment.

Positives

• A significant beneficial ownership stake by Maury Avi Epstein could signal confidence in BRC Inc.'s long-term prospects.
• The filing indicates a substantial individual investor's commitment to the company.

Negatives

• The disclosed ownership percentage of 8.99% may not be representative of the actual voting power due to the large number of Class B Shares outstanding (134,404,261 as of July 28, 2025), which could dilute the voting influence of Class A shareholders.

Risks

• The actual voting power of the Reporting Person may differ from the stated 8.99% beneficial ownership due to the existence of a large number of Class B Shares outstanding, which could impact corporate control dynamics.
• The redemption feature of Class B shares into Class A shares could lead to future dilution of Class A common stock if a significant number of redemptions occur.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing is a standard disclosure of a significant ownership stake by an individual or entity, common in the public markets. It does not provide specific industry trends but indicates a notable investment in BRC Inc., which operates within its specific industry.

Stakeholder Impact

• Shareholders: The disclosure of a significant beneficial owner can influence investor perception and potentially the stock's liquidity or trading patterns.
• Management: Awareness of a large shareholder may influence strategic decisions or communication strategies.

Key Dates

Keywords

BRC Inc., Maury Avi Epstein, Schedule 13G, Beneficial Ownership, Class A Common Stock, Class B Common Stock, SEC Filing, Shareholder, Investment, Equity