Form 4: David Nierenberg Reports Acquisition of Potbelly Corp Shares

David Nierenberg, a director and 10% owner of Potbelly Corp, reports the acquisition of 22,169 shares of common stock at $9.36 per share on March 28, 2025.

Summary

• On March 28, 2025, David Nierenberg acquired 22,169 shares of Potbelly Corp common stock at a price of $9.36 per share.
• Following this transaction, Mr. Nierenberg directly owns 124,167 shares.
• Mr. Nierenberg also has indirect ownership through various entities including The D3 Family Fund, L.P., The D3 Family Bulldog Fund, L.P., Haredale Ltd., and Benedict Value Fund, L.P.
• These entities collectively hold a significant number of Potbelly Corp shares.
• The report also indicates shares owned by Mr. Nierenberg's children and spouse, though he disclaims beneficial ownership except to the extent of his pecuniary interest.
• Nierenberg Investment Management Company, Inc. ('NIMCO') is the sole general partner of The D3 Family Fund, LP, The D3 Family Bulldog Fund, LP, and the Benedict Value Fund, LP and the sole investment manager of Haredale Ltd.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard regulatory filing. The acquisition itself could be seen as slightly positive, but without further context, it's difficult to gauge the overall impact.

Positives

• The acquisition of shares by a director and significant shareholder could be interpreted as a positive signal about the company's prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company directors and major shareholders.

Stakeholder Impact

• The share acquisition could potentially influence shareholder confidence.

Key Dates

Keywords

Form 4, Beneficial Ownership, PBPB, Potbelly Corp, Nierenberg, Share Acquisition, Insider Trading