Evan Hafer - 11 Sep 2024 Form 4 Insider Report for BRC Inc. (BRCC)

Role
Director, 10%+ Owner
Signature
/s/ Andrew McCormick, as attorney-in-fact
Issuer symbol
BRCC
Transactions as of
11 Sep 2024
Net transactions value
-$9,597,900
Form type
4
Filing time
12 Sep 2024, 14:55:35 UTC
Previous filing
29 Dec 2023
Next filing
17 Sep 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRCC Class B Common Stock Other $0 -3,000,000 -8.8% $0.000000 31,142,374 11 Sep 2024 Through EKNRH Holdings LLC F1, F2
transaction BRCC Class A Common Stock Conversion of derivative security $0 +3,000,000 $0.000000 3,000,000 11 Sep 2024 Direct F2
transaction BRCC Class A Common Stock Sale $9,597,900 -3,000,000 -100% $3.20 0 11 Sep 2024 Direct F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BRCC Common Units Conversion of derivative security $0 -3,000,000 -8.8% $0.000000 31,142,374 11 Sep 2024 Class A Common Stock 3,000,000 Through EKNRH Holdings LLC F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported securities provide no economic rights in BRC Inc. (the "Issuer") to the holder thereof but each share of Class B Common Stock ("Class B Share") entitles the holder to one vote as a common stockholder of the Issuer.
F2 Represents the exchange of an aggregate of 3,000,000 common units of Authentic Brands LLC (the "Common Units") for an equivalent number of shares of Class A Common Stock ("Class A Shares") of the Issuer and the forfeiture of an equivalent number of Class B Shares of the Issuer.
F3 The Class A Shares were sold in two block sale broker transactions at prices ranging from $3.17 to $3.4197. The weighted average price of the Class A Shares sold was $3.1993 per share. Specific details of the block sales can be provided upon request. The reporting person undertakes to provide to BRC Inc., any security holder of BRC Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Class A Shares sold at each separate price within the range set forth in footnote 3 to this Form 4.
F4 The Common Units may be exchanged by the holder (upon forfeiture of an equivalent number of Class B Shares), at any time and from time to time, for an equivalent number of Class A Shares of the Issuer (or the cash value thereof, at the election of the Issuer).

Remarks:

Evan Hafer owns the Common Units and Class B Shares reported herein through EKNRH Holdings LLC, an entity managed by him.