Company: VTBAS
Filing Date: 2025-09-29
Form Type: 1-SA
Source: 0001493152-25-016012
Chunk: 2

Company: Vestible Assets, LLC
Filing Date: 2025-09-29
Form: 1-SA
Chunk 2
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 athletes who are early in their career and already competing at the highest levels.

Each individual series of the Company (each, a “ Series”) is associated with a single athlete who has entered into an agreement (each, a “ Brand Agreement”) pursuant to which such athlete pays that particular Series, for the duration of the Brand Agreement, a percentage of all of his or her prospective sports earnings paid by a professional sports team, excluding any earnings associated with endorsements and name, image and likeness (such prospective sports earnings are referred to as the “ Brand Income” and such percentage of the Brand Income to be paid to a particular Series is referred to as the “ Brand Amount”). Currently, the Company has a single Series, Series BDBR, associated with the professional football player Baron Browning. As consideration for the Brand Amount to be received by Series BRBD, Baron Browning was entitled to 80% of the gross proceeds of the offering for Series BDBR interests.

Vestible, Inc. is the sole manager of the Company (the “ Manager”) and is responsible for the day-to-day management of the Company and each Series. In addition, the Manager owns and operates a mobile and web-based investment interface (the “ Vestible Platform”) through which issuances and trades of any Series interests are effected through a registered broker-dealer, Dalmore Group, LLC (“ Dalmore”).

Since its formation on July 20, 2022, our Company has been engaged primarily in preparing to enter into Brand Agreements with athletes. As of both June 30, 2025 and 2024, the Company had entered into a single Brand Agreement with Baron Browning, which is associated with our Series BDBR.

As a Delaware series limited liability company, the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a particular Series are segregated and enforceable only against the assets of such Series, as provided under Delaware law.

The Manager

The Manager is responsible for directing the management of our business and affairs. Neither the Manager nor its officers are required to devote all of their time to our business and are only required to devote such time to our affairs as their duties require.

The Manager performs its duties and responsibilities pursuant to the the Amended and Restated Limited Liability Company Agreement of the Company (the “ Operating Agreement”), under which we have agreed to limit the liability of the Manager and to indemnify the Manager against certain liabilities. The Manager maintains a contractual, as opposed to a fiduciary relationship, with