SCHEDULE: Bares Transfers RAVE Shares to Family Foundation

Brian T. Bares transferred 1,388,715 shares of RAVE Restaurant Group common stock to the Bares Family Foundation, Inc., while retaining voting and dispositive power.

Summary

• Brian T. Bares transferred record ownership of 1,388,715 shares of RAVE Restaurant Group, Inc. common stock to the Bares Family Foundation, Inc. on August 29, 2025.
• The transferred shares represent 9.8% of the issuer's common stock.
• Despite the change in record ownership, Brian T. Bares retains sole voting and dispositive power over all 1,388,715 shares.
• The Bares Family Foundation, Inc. holds shared voting and dispositive power over the same 1,388,715 shares.
• The reporting persons are eligible to report ownership on Schedule 13G, noting that an initial Schedule 13D was filed on September 15, 2017.
• The securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of a change in record ownership by a significant shareholder, with no immediate operational or financial implications for the company. Beneficial ownership and control remain with the same individual.

Risks

• The reporting persons may purchase or sell additional shares from time to time, depending on price, market conditions, availability of funds, evaluation of other investment opportunities, and other factors.

Future Outlook

The reporting persons may purchase or sell additional shares of RAVE Restaurant Group, Inc. common stock from time to time, contingent on market conditions, price, available funds, and other investment considerations.

Management Comments

• Brian T. Bares certified that, to the best of his knowledge and belief, the securities were not acquired and are not held for the purpose or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing is a disclosure of a change in beneficial ownership structure for a significant shareholder and does not directly relate to broader industry trends or competitive landscape for the restaurant sector.

Related Party Transactions

• Brian T. Bares transferred shares to the Bares Family Foundation, Inc., an entity with which he is associated, while retaining control.

Stakeholder Impact

• Shareholders are informed of a change in the record holder of a significant block of shares, though the ultimate beneficial owner and controlling party remains the same.

Next Steps

• Reporting persons may purchase or sell additional shares of the issuer's common stock in the future.

Key Dates

Keywords

RAVE Restaurant Group, Brian T. Bares, Bares Family Foundation, Schedule 13G, Beneficial Ownership, Common Stock, Ownership Change