TORO 18 HOLDINGS LLC - 06 Jul 2026 Form 4 Insider Report for Barnes & Noble Education, Inc. (BNED)

Reporting relationship: Director, 10%+ Owner
Issuer ticker: BNED
Reported as of: 06 Jul 2026
Net transaction value: -$33,100
SEC form: 4
Accepted by SEC: 08 Jul 2026, 17:34:42 UTC
Prior SEC filing: 14 Mar 2025
Next SEC filing: 12 Aug 2026
Source filing: View source filing
Reporting owner signature: Toro 18 Holdings LLC, By: /s/ Eric Singer, President and CEO

Key filing fact

TORO 18 HOLDINGS LLC filed Form 4 for Barnes & Noble Education, Inc. (BNED) on 08 Jul 2026.

Key facts

This page summarizes TORO 18 HOLDINGS LLC's Form 4 filing for Barnes & Noble Education, Inc. (BNED).
3 reported transactions and 12 derivative rows are listed below.
Accepted by SEC: 08 Jul 2026, 17:34.

Change

Previous filing in this sequence was filed on 14 Mar 2025.
Current net transaction value: -$33,100.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (4)

CIK 0001970265 Primary reporting owner

TORO 18 HOLDINGS LLC

Relationship: Director, 10%+ Owner
Address: 2999 N.E. 191ST STREET, SUITE 610, AVENTURA
Signature: Toro 18 Holdings LLC, By: /s/ Eric Singer, President and CEO
Signature date: 08 Jul 2026

CIK 0001058811

IMMERSION CORP

Relationship: Director, 10%+ Owner
Address: 2999 N. E. 191ST STREET, SUITE 610, AVENTURA
Signature: Immersion Corporation, By: /s/ Eric Singer, President, CEO and Chairman
Signature date: 08 Jul 2026

CIK 0001205885

MARTIN WILLIAM C

Relationship: Director, 10%+ Owner
Address: C/O IMMERSION CORPORATION, 2999 N.E. 191ST STREET, SUITE 610, AVENTURA
Signature: /s/ William C. Martin
Signature date: 08 Jul 2026

CIK 0001443284

Singer Eric

Relationship: Director, 10%+ Owner
Address: C/O IMMERSION CORPORATION, 2999 N.E. 191ST STREET, SUITE 610, AVENTURA
Signature: /s/ Eric Singer
Signature date: 08 Jul 2026

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $7,500
Shares: -5,000
Change %: -50%
Price: $1.50
Shares after: 5,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 500,000
Exercise price: $10.00
Footnotes: F1

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $7,500
Shares: -5,000
Change %: -50%
Price: $1.50
Shares after: 5,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 500,000
Exercise price: $10.00
Footnotes: F1

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $7,500
Shares: -5,000
Change %: -50%
Price: $1.50
Shares after: 5,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 500,000
Exercise price: $10.00
Footnotes: F1

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $7,500
Shares: -5,000
Change %: -50%
Price: $1.50
Shares after: 5,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 500,000
Exercise price: $10.00
Footnotes: F1

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $22,600
Shares: -12,000
Change %: -50%
Price: $1.88
Shares after: 12,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,200,000
Exercise price: $11.50
Footnotes: F1, F2

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $22,600
Shares: -12,000
Change %: -50%
Price: $1.88
Shares after: 12,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,200,000
Exercise price: $11.50
Footnotes: F1, F2

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $22,600
Shares: -12,000
Change %: -50%
Price: $1.88
Shares after: 12,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,200,000
Exercise price: $11.50
Footnotes: F1, F2

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $22,600
Shares: -12,000
Change %: -50%
Price: $1.88
Shares after: 12,000
Date: 06 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 1,200,000
Exercise price: $11.50
Footnotes: F1, F2

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $3,000
Shares: -2,000
Change %: -22%
Price: $1.50
Shares after: 7,000
Date: 07 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 200,000
Exercise price: $10.00
Footnotes: F1

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $3,000
Shares: -2,000
Change %: -22%
Price: $1.50
Shares after: 7,000
Date: 07 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 200,000
Exercise price: $10.00
Footnotes: F1

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $3,000
Shares: -2,000
Change %: -22%
Price: $1.50
Shares after: 7,000
Date: 07 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 200,000
Exercise price: $10.00
Footnotes: F1

BNED transaction Derivative

Put Option (obligation to buy)

Sale

Transaction value: $3,000
Shares: -2,000
Change %: -22%
Price: $1.50
Shares after: 7,000
Date: 07 Jul 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 200,000
Exercise price: $10.00
Footnotes: F1

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

This Form 4 is filed jointly by Toro 18 Holdings LLC ("Toro 18"), Immersion Corporation ("Immersion"), William C. Martin and Eric Singer (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a group with Emily S. Hoffman for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, that collectively beneficially owns over 10% of the Issuer's outstanding shares of Common Stock. Each of Messrs. Martin and Singer and Ms. Hoffman also serve as directors on the Board of Directors of the Issuer. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. Ms. Hoffman will file separate Section 16 reports.

Footnote F2

Sales were made in multiple transactions at prices ranging from $1.8000 to $2.3000 per Put Option (obligation to purchase). The price reported is a weighted average price. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares at each separate price within the range set forth in the immediately preceding sentence.

SEC remarks

For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each of Toro 18 and Immersion may be deemed directors by deputization of the Issuer due to Messrs. Martin and Singer and Ms. Hoffman serving on the boards of directors of both the Issuer and Immersion.