Form 4: Tilly's 10% Owner Distributes Shares

Fund 1 Investments, LLC, a 10% owner of Tilly's, Inc., distributed 116,611 shares of Class A Common Stock to unaffiliated limited partners.

Summary

• Fund 1 Investments, LLC, Pleasant Lake Partners LLC, and PLP Funds Master Fund LP, all 10% owners and directors of Tilly's, Inc. (TLYS), reported a change in beneficial ownership.
• On October 3, 2025, 116,611 shares of Class A Common Stock, with a par value of $0.001 per share, were disposed of.
• This transaction was a distribution of shares to certain unaffiliated limited partners on a pro rata basis for no consideration.
• Following this transaction, the reporting persons indirectly beneficially own 8,058,268 shares of Tilly's, Inc. Class A Common Stock.
• The securities are held for the benefit of PLP Funds Master Fund LP and additional private investment vehicles for which Pleasant Lake Partners LLC serves as investment adviser.

Sentiment

Score: 5

Explanation: This Form 4 reports a routine internal fund distribution of shares for no consideration, which is a neutral event for the company's operational or financial performance.

Stakeholder Impact

• Limited partners of the reporting entities will receive a pro rata distribution of Tilly's, Inc. shares.
• Public shareholders of Tilly's, Inc. are unlikely to experience a direct material impact as this is an internal fund restructuring and not a market sale.

Key Dates

Keywords

TLYS, Tilly's, Form 4, Insider Transaction, Beneficial Ownership, Fund 1 Investments, Pleasant Lake Partners, PLP Funds Master Fund, Equity Distribution