# EDGAR Filing Document

**Accession Number:** 0001574085
**File Stem:** 0001193805-25-000803
**Filing Date:** 2025-6
**Character Count:** 106145
**Document Hash:** 6d4e99c93c299bb56d5e4ed4dacb7145
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193805-25-000803.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0001193805-25-000803

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Braemar Hotels & Resorts Inc.
- **CENTRAL INDEX KEY:** 0001574085
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 462488594
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-87737
- **FILM NUMBER:** 251027885

**BUSINESS ADDRESS:**
- **STREET 1:** 14185 DALLAS PARKWAY
- **STREET 2:** SUITE 1100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75254
- **BUSINESS PHONE:** (972) 490-9600

**MAIL ADDRESS:**
- **STREET 1:** 14185 DALLAS PARKWAY
- **STREET 2:** SUITE 1100
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75254

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ashford Hospitality Prime, Inc.
- **DATE OF NAME CHANGE:** 20130410
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ghassemieh Babak
- **CENTRAL INDEX KEY:** 0002045643

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**MAIL ADDRESS:**
- **STREET 1:** 9255 SUNSET BLVD
- **STREET 2:** SUITE UPPER PENTHOUSE
- **CITY:** WEST HOLLYWOOD
- **STATE:** CA
- **ZIP:** 90069

## Ex-1

Exhibit 1

**<u>Transactions in the Shares During the Past 60 Days</u>**

---

| | | | |
|:---|:---|:---|:---|
| **<u>Nature of Transaction</u>** | **Amount of Securities<br> <u>Acquired/(Disposed)</u>** | **<u>Price per Share ($)</u>** | **Date of<u><br> Transaction</u>** |

---

**<u>BABAK GHASSEMIEH</u>**

---

| | | | |
|:---|:---|:---|:---|
| Purchase of Common Stock | 6000 | 2.0899<sup>1</sup> | 04/09/2025 |
| Purchase of Common Stock | 4000 | 2.0300 | 04/10/2025 |
| Purchase of Common Stock | 1000 | 1.8398 | 04/22/2025 |
| Purchase of Common Stock | 4000 | 2.5933<sup>2</sup> | 04/23/2025 |
| Purchase of Common Stock | 100 | 2.4300 | 05/27/2025 |
| Purchase of Common Stock | 102 (approximately) | 2.2800 | 05/30/2025 |

---

**<u>FRED GHASSEMIEH</u>**

---

| | | | |
|:---|:---|:---|:---|
| Purchase of Common Stock | 9999 | 2.0700 | 04/07/2025 |
| Purchase of Common Stock | 11110 | 2.0143<sup>3</sup> | 04/08/2025 |
| Purchase of Common Stock | 16331 | 1.8708<sup>4</sup> | 04/10/2025 |
| Purchase of Common Stock | 9999 | 1.8600<sup>5</sup> | 04/11/2025 |
| Purchase of Common Stock | 10547 | 1.8347<sup>6</sup> | 04/21/2025 |
| Purchase of Common Stock | 8340 | 1.8320<sup>7</sup> | 04/22/2025 |
| Purchase of Common Stock | 4444 | 2.0050<sup>8</sup> | 05/05/2025 |
| Purchase of Common Stock | 9988 | 2.0601<sup>9</sup> | 05/20/2025 |
| Purchase of Common Stock | 14485 | 2.0135<sup>10</sup> | 05/21/2025 |
| Purchase of Common Stock | 1069 | 1.9800 | 05/22/2025 |

---

**<u>Kambiz GHASSEMIEH</u>**

Purchase of Common Stock 8,000 1.9866 05/08/2025

____________________________

<sup>1</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $2.0650 to $2.0956 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>2</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $1.9400 to $1.9600 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>3</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $2.0150 to $2.0166 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>4</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $1.8550 to $1.9000 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>5</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $1.8500 to $1.8700 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>6</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $1.8200 to $1.8450 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>7</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $1.8300 to $1.8400 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>8</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $2.0000 to $2.0100 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>9</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $2.0500 to $2.0650 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

<sup>10</sup> The price reported is a weighted average price. These Shares were sold in multiple transactions at prices ranging from $1.9800 to $2.0100 per Share. The Reporting Persons undertake to provide to 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 sold at each separate price within the range set forth in this footnote.

## Exhibit 99.1

**<u>GROUP AGREEMENT</u>**

This Agreement (this "<u>Agreement</u>") is made and entered into as of June 2, 2025 by and among the undersigned (each a "<u>Party</u>", and collectively, the "<u>Parties</u>" or the "<u>Group</u>").

WHEREAS, certain of the undersigned are stockholders, direct or beneficial, of Braemar Hotels & Resorts Inc., a Maryland corporation (the "<u>Company</u>"); and

WHEREAS, the Parties desire to form a group for the purpose of seeking representation on the Board and for the purpose of taking all other action necessary to achieve the foregoing.

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound hereby, agree as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Each of the undersigned agrees to form a "<u>group</u>" (as such term is defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "<u>Exchange Act</u>")) with respect to the securities of the Company. In furtherance of the foregoing and in accordance with Rule 13d-1(k)(1)(iii) under the Exchange Act, each of the undersigned agrees to the joint filing on behalf of each of them of statements on Schedule 13D, and any amendments thereto, with respect to the securities of the Company to the extent required by applicable law. Each member of the Group shall be responsible for the accuracy and completeness of its own disclosure therein, and shall not be responsible for the accuracy and completeness of the information concerning the other members of the Group, unless such member knows or has reason to know that such information is inaccurate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Each of the undersigned agrees to form the Group for the purpose of (i) soliciting proxies for the election of certain persons nominated for election to the Board at the 2025 annual meeting of stockholders of the Company (including any other meeting of shareholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof, the "<u>Annual Meeting</u>"), (ii) taking such other actions as the Parties deem advisable and (iii) taking all other action necessary or advisable to achieve the foregoing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Each Party agrees that any filing with the Securities and Exchange Commission, press release or other communication proposed to be made or issued by the Group or any member of the Group in connection with the Group's activities shall first be approved by a representative of certain of the undersigned. Certain of the undersigned agree to work in good faith to resolve any disagreement that may arise between or among them concerning decisions to be made, actions to be taken or statements to be made in connection with the Group's activities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The relationship of the Parties shall be limited to carrying on the business of the Group in accordance with the terms of this Agreement. Such relationship shall be construed and deemed to be for the sole and limited purpose of carrying on such business as described herein. Nothing herein shall be construed to authorize any Party to act as an agent for any other Party, or to create a joint venture or partnership, or to constitute an indemnification. Each Party agrees to use his or its reasonable efforts to avoid taking any action that may cause any other person or entity to be deemed to be a member of the Group. Except as provided in Section 2, nothing herein shall restrict any Party's right to purchase or sell securities of the Company, as it deems appropriate, in its sole discretion, provided that all such purchases and sales are made in compliance with all applicable securities laws and the provisions of this Agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which, taken together, shall constitute but one and the same instrument, which may be sufficiently evidenced by one counterpart.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. This Agreement is governed by and will be construed in accordance with the laws of the State of New York. In the event of any dispute arising out of the provisions of this Agreement or their investment in the Company, the Parties consent and submit to the exclusive jurisdiction of the United States District Court for the Southern District of New York located in the Borough of Manhattan or the courts of the State of New York located in the County of New York.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. The Parties' rights and obligations under this Agreement (other than the rights and obligations set forth in Section 6 which shall survive any termination of this Agreement) shall terminate immediately after the conclusion of the activities set forth in Section 3 or as otherwise agreed to by the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. Each Party hereby waives the application of any law, regulation, holding, or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. The terms and provisions of this Agreement may not be modified, waived or amended without the written consent of each of the Parties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. Each Party hereby agrees that this Agreement shall be filed as an exhibit to any Schedule 13D required to be filed under applicable law pursuant to Rule 13d-1(k)(1)(iii) under the Exchange Act.

[*Signature Pages Follow*]

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed as of the day and year first above written.

---

| |
|:---|
| /s/ Bob Ghassemieh |
| Bob Ghassemieh |

---

---

| | | |
|:---|:---|:---|
| Bob Ghassemieh 2021 Children's Trust | Bob Ghassemieh 2021 Children's Trust | Bob Ghassemieh 2021 Children's Trust |
| By: | /s/ Bob Ghassemieh | /s/ Bob Ghassemieh |
|  | Name: | Bob Ghassemieh |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Lillian Ghassemieh 2021 Children's Trust | Lillian Ghassemieh 2021 Children's Trust | Lillian Ghassemieh 2021 Children's Trust |
| By: | /s/ Bob Ghassemieh | /s/ Bob Ghassemieh |
|  | Name: | Bob Ghassemieh |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| BL PCH LLC | BL PCH LLC | BL PCH LLC |
| By: | /s/ Bob Ghassemieh | /s/ Bob Ghassemieh |
|  | Name: | Bob Ghassemieh |
|  | Title: | Manager |

---

---

| | | |
|:---|:---|:---|
| Morning View Hotels BH I, LLC | Morning View Hotels BH I, LLC | Morning View Hotels BH I, LLC |
| By: | /s/ Bob Ghassemieh | /s/ Bob Ghassemieh |
|  | Name: | Bob Ghassemieh |
|  | Title: | Manager |

---

---

| |
|:---|
| /s/ Jennifer Gareis |
| Jennifer Gareis, on behalf of minor child Gavin Ghassemieh |

---

---

| |
|:---|
| /s/ Jennifer Gareis |
| Jennifer Gareis, on behalf of minor child Sophia Ghassemieh |

---

---

| |
|:---|
| /s/ Fred Ghassemieh |
| Fred Ghassemieh |

---

---

| | | |
|:---|:---|:---|
| Fred Ghassemieh Children's Trust | Fred Ghassemieh Children's Trust | Fred Ghassemieh Children's Trust |
| By: | /s/ Fred Ghassemieh | /s/ Fred Ghassemieh |
|  | Name: | Fred Ghassemieh |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Feridoon Ghassemieh Descendants Trust | Feridoon Ghassemieh Descendants Trust | Feridoon Ghassemieh Descendants Trust |
| By: | /s/ Fred Ghassemieh | /s/ Fred Ghassemieh |
|  | Name: | Fred Ghassemieh |
|  | Title: | Trustee |

---

---

| |
|:---|
| /s/ Alex Ghassemieh |
| Alex Ghassemieh |

---

---

| | | |
|:---|:---|:---|
| Pacific SHG Ventures, LLC | Pacific SHG Ventures, LLC | Pacific SHG Ventures, LLC |
| By: | /s/ Alex Ghassemieh | /s/ Alex Ghassemieh |
|  | Name: | Alex Ghassemieh |
|  | Title: | Manager |

---

---

| | | |
|:---|:---|:---|
| Morning View Hotels BH I, LLC | Morning View Hotels BH I, LLC | Morning View Hotels BH I, LLC |
| By: | /s/ Alex Ghassemieh | /s/ Alex Ghassemieh |
|  | Name: | Alex Ghassemieh |
|  | Title: | Manager |

---

---

| |
|:---|
| /s/ Fataneh Ghassemieh |
| Fataneh Ghassemieh |

---

---

| |
|:---|
| /s/ Ali Afshari |
| Ali Afshari |

---

---

| |
|:---|
| /s/ Mahyar Amirsaleh |
| Mahyar Amirsaleh |

---

---

| |
|:---|
| /s/ Lillian Ghassemieh |
| Lillian Ghassemieh |

---

---

| | | |
|:---|:---|:---|
| Bob Ghassemieh 2021 Children's Trust | Bob Ghassemieh 2021 Children's Trust | Bob Ghassemieh 2021 Children's Trust |
| By: | /s/ Lillian Ghassemieh | /s/ Lillian Ghassemieh |
|  | Name: | Lillian Ghassemieh |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Lillian Ghassemieh 2021 Children's Trust | Lillian Ghassemieh 2021 Children's Trust | Lillian Ghassemieh 2021 Children's Trust |
| By: | /s/ Lillian Ghassemieh | /s/ Lillian Ghassemieh |
|  | Name: | Lillian Ghassemieh |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| BL PCH LLC | BL PCH LLC | BL PCH LLC |
| By: | /s/ Lillian Ghassemieh | /s/ Lillian Ghassemieh |
|  | Name: | Lillian Ghassemieh |
|  | Title: | Manager |

---

---

| |
|:---|
| /s/ Kambiz Ghassemieh |
| Kambiz Ghassemieh |

---

---

| |
|:---|
| /s/ Mahvash Ehsani |
| Mahvash Ehsani |

---

---

| |
|:---|
| /s/ Jennifer Gareis |
| Jennifer Gareis |

---

---

| |
|:---|
| /s/ Christina Matthias |
| Christina Matthias |

---

---

| |
|:---|
| /s/ Eric Ghassemieh |
| Eric Ghassemieh |

---

---

| | | |
|:---|:---|:---|
| Trust FBO Feridoon Ghassemieh | Trust FBO Feridoon Ghassemieh | Trust FBO Feridoon Ghassemieh |
| By: | /s/ Farhad Ghassemieh | /s/ Farhad Ghassemieh |
|  | Name: | Farhad Ghassemieh |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Trust FBO Firouzeh Ghassemieh | Trust FBO Firouzeh Ghassemieh | Trust FBO Firouzeh Ghassemieh |
| By: | /s/ Farhad Ghassemieh | /s/ Farhad Ghassemieh |
|  | Name: | Farhad Ghassemieh |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Trust FBO Feridoon Ghassemieh | Trust FBO Feridoon Ghassemieh | Trust FBO Feridoon Ghassemieh |
| By: | /s/ Lewis Stanton | /s/ Lewis Stanton |
|  | Name: | Lewis Stanton |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Trust FBO Alex Ghassemieh | Trust FBO Alex Ghassemieh | Trust FBO Alex Ghassemieh |
| By: | /s/ Lewis Stanton | /s/ Lewis Stanton |
|  | Name: | Lewis Stanton |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Trust FBO Firouzeh Ghassemieh | Trust FBO Firouzeh Ghassemieh | Trust FBO Firouzeh Ghassemieh |
| By: | /s/ Lewis Stanton | /s/ Lewis Stanton |
|  | Name: | Lewis Stanton |
|  | Title: | Trustee |

---

---

| | | |
|:---|:---|:---|
| Alpine Lake Partners, LP | Alpine Lake Partners, LP | Alpine Lake Partners, LP |
| By: | /s/ Cyrus Amirsaleh | /s/ Cyrus Amirsaleh |
|  | Name: | Cyrus Amirsaleh |
|  | Title: | Managing Partner |

---

---

| |
|:---|
| /s/ Cyrus Amirsaleh |
| Cyrus Amirsaleh |

---

---

| |
|:---|
| /s/ Farhad Ghassemieh |
| Farhad Ghassemieh |

---

---

| |
|:---|
| /s/ Samuel J. Jagger |
| Samuel J. Jagger |

---

---

| |
|:---|
| /s/ Lewis Stanton |
| Lewis Stanton |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Braemar Hotels & Resorts Inc.**

*(Name of Issuer)*

**Common Stock, $0.01 par value per share**

*(Title of Class of Securities)*

**10482B101**

*(CUSIP Number)*

**Babak (Bob) Ghassemieh**<br>9255 Sunset Blvd., Suite UPH<br>West Hollywood CA 90069<br>310-503-2503

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/02/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ghassemieh Babak** | Name of reporting person<br>**Ghassemieh Babak** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**85202.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**45000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**85202.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2570735.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2635937.00** | Aggregate amount beneficially owned by each reporting person<br>**2635937.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.8%** | Percent of class represented by amount in Row (11)<br>**3.8%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Fred Ghassemieh** | Name of reporting person<br>**Fred Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1615437.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1615437.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2062645.00** | Aggregate amount beneficially owned by each reporting person<br>**2062645.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.1%** | Percent of class represented by amount in Row (11)<br>**3.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Samuel J. Jagger** | Name of reporting person<br>**Samuel J. Jagger** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Alex Ghassemieh** | Name of reporting person<br>**Alex Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**51110.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2518301.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**51110.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2518301.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2569411.00** | Aggregate amount beneficially owned by each reporting person<br>**2569411.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.7%** | Percent of class represented by amount in Row (11)<br>**3.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Fataneh Ghassemieh** | Name of reporting person<br>**Fataneh Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**30000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**30000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**30000.00** | Aggregate amount beneficially owned by each reporting person<br>**30000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Ali Afshari** | Name of reporting person<br>**Ali Afshari** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**30000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**30000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**30000.00** | Aggregate amount beneficially owned by each reporting person<br>**30000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mahyar Amirsaleh** | Name of reporting person<br>**Mahyar Amirsaleh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**15000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**115000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**15000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**115000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**115000.00** | Aggregate amount beneficially owned by each reporting person<br>**115000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.2%** | Percent of class represented by amount in Row (11)<br>**0.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Lillian Ghassemieh** | Name of reporting person<br>**Lillian Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**15000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**65000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**15000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**65000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**80000.00** | Aggregate amount beneficially owned by each reporting person<br>**80000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.1%** | Percent of class represented by amount in Row (11)<br>**0.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Kambiz Ghassemieh** | Name of reporting person<br>**Kambiz Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**12000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**12000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**12000.00** | Aggregate amount beneficially owned by each reporting person<br>**12000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Mahvash Ehsani** | Name of reporting person<br>**Mahvash Ehsani** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**6000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**6000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**6000.00** | Aggregate amount beneficially owned by each reporting person<br>**6000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Jennifer Gareis** | Name of reporting person<br>**Jennifer Gareis** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**5335.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**5735.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**5335.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**5735.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**5735.00** | Aggregate amount beneficially owned by each reporting person<br>**5735.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Christina Matthias** | Name of reporting person<br>**Christina Matthias** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**2000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**2000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2000.00** | Aggregate amount beneficially owned by each reporting person<br>**2000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Eric Ghassemieh** | Name of reporting person<br>**Eric Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**500.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**500.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**500.00** | Aggregate amount beneficially owned by each reporting person<br>**500.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Gavin Ghassemieh** | Name of reporting person<br>**Gavin Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**200.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**200.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**200.00** | Aggregate amount beneficially owned by each reporting person<br>**200.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Sophia Ghassemieh** | Name of reporting person<br>**Sophia Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**200.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**200.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**200.00** | Aggregate amount beneficially owned by each reporting person<br>**200.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Lewis Stanton** | Name of reporting person<br>**Lewis Stanton** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**190093.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**190093.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**190093.00** | Aggregate amount beneficially owned by each reporting person<br>**190093.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.3%** | Percent of class represented by amount in Row (11)<br>**0.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Farhad Ghassemieh** | Name of reporting person<br>**Farhad Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**110000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**110000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**110000.00** | Aggregate amount beneficially owned by each reporting person<br>**110000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.2%** | Percent of class represented by amount in Row (11)<br>**0.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Cyrus Amirsaleh** | Name of reporting person<br>**Cyrus Amirsaleh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**100000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**100000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.1%** | Percent of class represented by amount in Row (11)<br>**0.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Fred Ghassemieh Children's Trust** | Name of reporting person<br>**Fred Ghassemieh Children's Trust** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**254354.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**254354.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**254354.00** | Aggregate amount beneficially owned by each reporting person<br>**254354.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.4%** | Percent of class represented by amount in Row (11)<br>**0.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Feridoon Ghassemieh Descendant's Trust** | Name of reporting person<br>**Feridoon Ghassemieh Descendant's Trust** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**186374.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**186374.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**186374.00** | Aggregate amount beneficially owned by each reporting person<br>**186374.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.3%** | Percent of class represented by amount in Row (11)<br>**0.3%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Trust FBO Feridoon Ghassemieh** | Name of reporting person<br>**Trust FBO Feridoon Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NEW YORK** | Citizenship or place of organization<br>**NEW YORK** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**100000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**100000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.1%** | Percent of class represented by amount in Row (11)<br>**0.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Trust FBO Alex Ghassemieh** | Name of reporting person<br>**Trust FBO Alex Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**NEW YORK** | Citizenship or place of organization<br>**NEW YORK** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**80093.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**80093.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**80093.00** | Aggregate amount beneficially owned by each reporting person<br>**80093.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.1%** | Percent of class represented by amount in Row (11)<br>**0.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Bob Ghassemieh 2021 Children's Trust** | Name of reporting person<br>**Bob Ghassemieh 2021 Children's Trust** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**25000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**25000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**25000.00** | Aggregate amount beneficially owned by each reporting person<br>**25000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Lillian Ghassemieh 2021 Children's Trust** | Name of reporting person<br>**Lillian Ghassemieh 2021 Children's Trust** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**20000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**20000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**20000.00** | Aggregate amount beneficially owned by each reporting person<br>**20000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Trust FBO Firouzeh Ghassemieh** | Name of reporting person<br>**Trust FBO Firouzeh Ghassemieh** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**PF** | Source of funds (See Instructions)<br>**PF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**10000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**10000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**10000.00** | Aggregate amount beneficially owned by each reporting person<br>**10000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Alpine Lake Partners, LP** | Name of reporting person<br>**Alpine Lake Partners, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**100000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**100000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.1%** | Percent of class represented by amount in Row (11)<br>**0.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BL PCH LLC** | Name of reporting person<br>**BL PCH LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**20000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**20000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**20000.00** | Aggregate amount beneficially owned by each reporting person<br>**20000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Pacific SHG Ventures, LLC** | Name of reporting person<br>**Pacific SHG Ventures, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**CALIFORNIA** | Citizenship or place of organization<br>**CALIFORNIA** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**18301.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**18301.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**18301.00** | Aggregate amount beneficially owned by each reporting person<br>**18301.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.0%** | Percent of class represented by amount in Row (11)<br>**0.0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Morning View Hotels BH I, LLC** | Name of reporting person<br>**Morning View Hotels BH I, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**2500000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**2500000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**2500000.00** | Aggregate amount beneficially owned by each reporting person<br>**2500000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**3.6%** | Percent of class represented by amount in Row (11)<br>**3.6%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

| **CUSIP No.** | **10482B101** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Palm Lake GP, LLC** | Name of reporting person<br>**Palm Lake GP, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**100000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**100000.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | Aggregate amount beneficially owned by each reporting person<br>**100000.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0.1%** | Percent of class represented by amount in Row (11)<br>**0.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, $0.01 par value per share

**(b) Name of Issuer:**
Braemar Hotels & Resorts Inc.

**(c) Address of Issuer's Principal Executive Offices:**
14185 DALLAS PARKWAY, SUITE 1100, DALLAS, TX, 75254

**Item 4. Purpose of Transaction**

The Reporting Persons purchased the Shares based on their belief that the securities, when purchased, represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.

The Reporting Persons believe the Board has failed to act with appropriate urgency in addressing stockholder concerns, particularly regarding the pursuit of strategic initiatives such as restructuring the Issuer into a self-managed REIT. Accordingly, on June 2, 2025, Mr. Ghassemieh delivered a nomination notice (the "Nomination Notice") to the Issuer, formally nominating himself, Fred Ghassemieh, and Samuel J. Jagger (collectively, the "Nominees") for election to the Board at the Issuer's 2025 annual meeting of stockholders (the "Annual Meeting"). The Reporting Persons believe their highly qualified Nominees will bring critical fresh perspectives, enhance stockholder alignment, and restore accountability to the Board.

Further underscoring the need for change, the Reporting Persons highlight the Issuer's apparent attempt to disenfranchise stockholders by manipulating the corporate machinery--namely, by significantly advancing the date of the Annual Meeting from its prior-year anniversary and announcing it late on the Friday before a holiday weekend. This move materially altered the deadline for stockholder nominations and proposals, leaving stockholders only four business days before the due date to comply with the Issuer's burdensome Bylaw requirements, including obtaining shares in record name--a process that typically takes three to five business days. While the Nominating Stockholder worked diligently with his broker and has documentation showing the shares were delivered to Computershare (the Issuer's transfer agent) before the deadline, Computershare did not appear to process the transfer in time. The Reporting Persons have serious concerns that Computershare may not have been acting on its own accord in failing to finalize the share transfer to record name.

At every turn, the Issuer seemingly sought to obstruct the nomination process, including by delaying delivery of the required questionnaire to the Nominating Stockholder under the pretense of needing to confirm Mr. Ghassemieh was a stockholder of the Issuer. Given the Reporting Persons' long-standing relationship with the Issuer, including having engaged in transactions and being holders of preferred stock, the Reporting Persons believe this was another example of the Board's entrenchment tactics and a clear demonstration of its disregard for stockholder rights.

As detailed in their biographies below, the Nominees bring extensive experience across commercial real estate development and operations, finance, and investment management, with decades of collective leadership as senior executives in hospitality, real estate and financial organizations.

Bob Ghassemieh has over 25 years of experience in the development, ownership, operation, management, and finance of commercial real estate, particularly focused on luxury hotels for the last 20 years.  He developed the Mr. C Beverly Hills luxury hotel in 2011 which was the launch of the first Mr. C Hotels luxury branded property.  Mr. C Hotels was a partnership with the Cipriani family, a 4th generation luxury global hospitality brand.  Bob subsequently developed the Mr. C Seaport hotel in New York City. Bob is currently an executive, vice president, and director of First Credit Bank, where he oversees the commercial real estate originations, due diligence and servicing teams, and he has been employed and served on the board since 2005. Prior to this, from 1999 to 2005, Mr. Ghassemieh was the Director of Acquisitions at Atlantic Pearl Investments, a Ghassemieh Family Office company focused on commercial real estate investments. From 1998 to 1999, Mr. Ghassemieh served as Analyst in the Investment Banking Group of CBRE Group, Inc., an American commercial real estate services and investment firm. Bob has been a key member of the loan committee and ALCO committee for 20 years. He received a degree in economics from Johns Hopkins University.

Fred Ghassemieh is the founder, President, and director of First Credit Bank, a leading commercial bank based in Southern California which was founded in 1983.  First Credit Bank specializes in commercial real estate finance and has originated billions of dollars of real estate loans (including hundreds of millions of dollars of hospitality loans) since its inception.  The bank consistently ranks among the top of its peers across all performance data including return on equity, return on assets and other profitability metrics.  Fred also co-leads his family office which has actively been investing, developing and operating commercial real estate for over 40 years with asset transaction in excess of one billion dollars including numerous hospitality assets.  Fred has actively invested in REITs for over 20 years. He received an engineering degree from Georgia Tech University.

Samuel J. Jagger is the Managing Director of The Maybourne Beverly Hills, a luxury hotel, since April 2025, where he also served as General Manager from March 2024 to April 2025. Mr. Jagger previously served as General Manager of Fairmont Miramar Hotel & Bungalows, a luxury hotel and resort located in Santa Monica, California, from June 2020 to February 2024. Prior to that, Mr. Jagger served as Managing Director & Senior Vice President of Mr C Hotels Residences Restaurants & Spas, a luxury hospitality brand encompassing hotels, residences, restaurants, and spas, from October 2010 to June 2020, where he also served as Director of Sales & Marketing from September 2008 to October 2010. He served as Director of Sales & Marketing of Palms Place Hotel & Spa in Palms Casino Resort, a hotel and spa in Las Vegas, Nevada, from November 2007 to August 2008. Previously, Mr. Jagger served in various executive roles, including as Director of Marketing of Morgans Hotel Group, LLC, a hospitality company that specialized in the boutique hotel category, in 2007; Regional Director of Sales from 2005 to 2007; Associate Director of Sales from 2003 to 2005; and Senior Sales Manager from 2000 to 2003. Mr. Jagger is also an active member of various industry organizations, including the Beverly Hills Chamber of Commerce since January 2025; Beverly Hills CVB since June 2004; and Beverly Hills Rotary since November 2024. Mr. Jagger received a degree in Hotel Catering and Institutional Management from the University of Huddersfield in the United Kingdom.

To the extent any information contained in this Schedule 13D updates the information contained in the Nomination Notice, the information set forth herein shall be deemed to supplement the Nomination Notice accordingly.

The Reporting Persons have engaged, and intend to continue to engage, in discussions with management and the Board, as well as stockholders of the Issuer and others about the Issuer and the Reporting Persons' investment, including regarding Board representation and the composition of the Issuer's Board, generally, as well as other strategic initiatives.

No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a)-(j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer's financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, engaging in additional communications with management and the Board of the Issuer, engaging in additional discussions with stockholders of the Issuer and others about the Issuer and the Reporting Persons' investment, making proposals to the Issuer concerning changes to the capital allocation strategy, capitalization, ownership structure, Board structure (including Board composition) or operations of the Issuer, purchasing additional Shares, selling some or all of their Shares, or changing their intention with respect to any and all matters referred to in Item 4.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The aggregate percentage of Shares reported owned by each person named herein is based upon a denominator that may the aggregate of (i) 67,046,523 Shares outstanding, which is the total number of Shares outstanding as of May 6, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2025, (ii) the Series B Preferred stock as-converted with respect to that Reporting Person, and (iii) 2,500,000 operating partnership units held by Morning View Hotels that are convertible 1:1 into Shares, as applicable to each Reporting Person.

As of the date hereof:

Bob Ghassemieh beneficially owned 2,635,937 Shares, consisting of (i) approximately 45,202 Shares beneficially owned directly by him, at least 100 Shares of which are beneficially owned of record (ii) 20,000 Shares underlying certain call options, (iii) 5,335 Shares beneficially owned directly by Jennifer Gareis (his spouse), including 2,005 Shares which are convertible from 1,500 Shares of Series B Preferred Stock, (iv) 200 Shares beneficially owned directly by Gavin Ghassemieh (his minor child), (v) 200 Shares beneficially owned directly by Sophia Ghassemieh (his minor child), (vi) 25,000 Shares beneficially owned directly by Bob Ghassemieh 2021 Children's Trust, of which he serves as Trustee, (vii) 20,000 Shares beneficially owned directly by Lillian Ghassemieh 2021 Children's Trust, of which he serves as Trustee, (xiii) 20,000 Shares beneficially owned directly by BL PCH, where he serves as Manager, and (ix) 2,500,000 Shares beneficially owned directly by Morning View Hotels, where he serves as Manager, convertible from 2,500,000 units of Braemar Hospitality Limited Partnership, a Delaware limited partnership (the "Operating Partnership"), constituting approximately 3.8% of the Shares outstanding.

Fred Ghassemieh beneficially owned 2,062,645 Shares, consisting of (i) 1,615,437 Shares beneficially owned directly by him, (ii) 6,480 Shares which are convertible from 4,846 Shares of Series B Preferred Stock, (iii) 254,354 Shares beneficially owned directly by Fred Ghassemieh Children's Trust, of which he serves as Trustee, and (iv) 186,374 Shares beneficially owned directly by Feridoon Ghassemieh Descendant's Trust, of which he serves as Trustee, constituting approximately 3.1% of the Shares outstanding.

Samuel J. Jagger owned 0 Shares.

Alex Ghassemieh beneficially owned 2,569,411 Shares, consisting of (i) 51,110 Shares beneficially owned directly by him, (ii) 18,301 Shares beneficially owned directly by Pacific SHG, where he serves as Manager, and (iii) 2,500,000 Shares beneficially owned directly by Morning View Hotels, where he serves as Manager, constituting approximately 3.7% of the Shares outstanding.

Fataneh Ghassemieh beneficially owned directly 30,000 Shares, constituting less than 1% of the Shares outstanding.

Ali Afshari beneficially owned directly 30,000 Shares, constituting less than 1% of the Shares outstanding.

Mahyar Amirsaleh beneficially owned 115,000 Shares consisting of (i) 15,000 Shares beneficially owned directly by her and (ii) 100,000 Shares beneficially owned directly by Alpine Lake, where she serves as Manager, constituting less than 1% of the Shares outstanding.

Lillian Ghassemieh beneficially owned 80,000 Shares, consisting of (i) 15,000 Shares beneficially owned directly by her, (ii) 25,000 Shares beneficially owned directly by Bob Ghassemieh 2021 Children's Trust, of which she serves as Trustee, (iii) 20,000 Shares beneficially owned directly by Lillian Ghassemieh 2021 Children's Trust, of which she serves as Trustee, and (iv) 20,000 Shares beneficially owned directly by BL PCH, where she serves as Manager, constituting less than 1% of the Shares outstanding.

Kambiz Ghassemieh beneficially owned directly 12,000 Shares, constituting less than 1% of the Shares outstanding.

Mahvash Ehsani beneficially owned directly 6,000 Shares, constituting less than 1% of the Shares outstanding.

Jennifer Gareis beneficially owned 5,735 Shares, consisting of (i) 3,330 Shares beneficially owned directly by her, (ii) 2,005 Shares which are convertible from 1,500 Shares of Series B Preferred Stock, (iii) 200 Shares beneficially owned directly by Gavin Ghassemieh (her minor child), and (iv) 200 Shares beneficially owned directly by Sophia Ghassemieh (her minor child), constituting less than 1% of the Shares outstanding.

Christina Matthias beneficially owned directly 2,000 Shares, constituting less than 1% of the Shares outstanding.

Eric Ghassemieh beneficially owned directly 500 Shares, constituting less than 1% of the Shares outstanding.

Gavin Ghassemieh beneficially owned directly 200 Shares, constituting less than 1% of the Shares outstanding.

Sophia Ghassemieh beneficially owned directly 200 Shares, constituting less than 1% of the Shares outstanding.

Lewis Stanton beneficially owned 190,093 Shares, consisting of (i) 100,000 Shares beneficially owned directly by Trust FBO Feridoon Ghassemieh, of which he serves as Trustee, (ii) 80,093 Shares beneficially owned directly by Trust FBO Alex Ghassemieh, of which he serves as Trustee, and (iii) 10,000 Shares beneficially owned directly by Trust FBO Firouzeh Ghassemieh, of which he serves as Trustee, constituting less than 1% of the Shares outstanding.

Farhad Ghassemieh beneficially owned 110,000 Shares, consisting of (i) 100,000 Shares beneficially owned directly by Trust FBO Feridoon Ghassemieh, of which he serves as Trustee, and (ii) 10,000 Shares beneficially owned directly by Trust FBO Firouzeh Ghassemieh, of which he serves as Trustee, constituting less than 1% of the Shares outstanding.

Cyrus Amirsaleh beneficially owned the 100,000 Shares beneficially owned directly by Alpine Lake, where he serves as Manager, constituting less than 1% of the Shares outstanding.

Fred Ghassemieh Children's Trust beneficially owned directly 254,354 Shares, constituting less than 1% of the Shares outstanding.

Feridoon Ghassemieh Descendant's Trust beneficially owned directly 186,374 Shares, constituting less than 1% of the Shares outstanding.

Trust FBO Feridoon Ghassemieh beneficially owned directly 100,000 Shares, constituting less than 1% of the Shares outstanding.

Trust FBO Alex Ghassemieh beneficially owned directly 80,093 Shares, constituting less than 1% of the Shares outstanding.

Bob Ghassemieh 2021 Children's Trust beneficially owned directly 25,000 Shares, constituting less than 1% of the Shares outstanding.

Lillian Ghassemieh 2021 Children's Trust beneficially owned directly 20,000 Shares, constituting less than 1% of the Shares outstanding.

Trust FBO Firouzeh Ghassemieh beneficially owned directly 10,000 Shares, constituting less than 1% of the Shares outstanding.

Alpine Lake beneficially owned directly 100,000 Shares, constituting less than 1% of the Shares outstanding.

BL PCH beneficially owned directly 20,000 Shares, constituting less than 1% of the Shares outstanding.

Pacific SHG beneficially owned directly 18,301 Shares, constituting less than 1% of the Shares outstanding.

Morning View Hotels beneficially owned 2,500,000 Shares, constituting approximately 3.6% of the Shares outstanding.

Palm Lake GP beneficially owned 100,000 Shares, consisting of the 100,000 Shares beneficially owned directly by Alpine Lake, as its general partner, constituting less than 1% of the Shares outstanding.

Each of the Reporting Persons may be deemed to be a member of a "group" with the other Reporting Persons for the purposes of Section 13(d)(3) of the Exchange Act, and such group may be deemed to beneficially own the 5,168,586 shares of Common Stock owned in the aggregate by all of the Reporting Persons, constituting approximately 7.4% of the outstanding Shares. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own.

**(b)**
See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and the sole or shared power to dispose or to direct the disposition.

**(c)**
The transactions in securities of the Issuer by the Reporting Persons during the past 60 days are set forth in Exhibit 1 and are incorporated herein by reference. All of such transactions were effected in the open market unless otherwise noted therein.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

On June 2, 2025, the Reporting Persons entered into a Group Agreement (the "Group Agreement") pursuant to which, among other things, the parties agreed (i) to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law, and (ii) to coordinate their activities with respect to the Issuer. The Group Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ghassemieh Babak

**Signature:** /s/ Babak Ghassemieh

**Name/Title:** Babak Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Fred Ghassemieh

**Signature:** /s/ Fred Ghassemieh

**Name/Title:** Fred Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Samuel J. Jagger

**Signature:** /s/ Samuel J. Jagger

**Name/Title:** Samuel J. Jagger

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Alex Ghassemieh

**Signature:** /s/ Alex Ghassemieh

**Name/Title:** Alex Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Fataneh Ghassemieh

**Signature:** /s/ Fataneh Ghassemieh

**Name/Title:** Fataneh Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Ali Afshari

**Signature:** /s/ Ali Afshari

**Name/Title:** Ali Afshari

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mahyar Amirsaleh

**Signature:** /s/ Mahyar Amirsaleh

**Name/Title:** Mahyar Amirsaleh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Lillian Ghassemieh

**Signature:** /s/ Lillian Ghassemieh

**Name/Title:** Lillian Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Kambiz Ghassemieh

**Signature:** /s/ Kambiz Ghassemieh

**Name/Title:** Kambiz Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Mahvash Ehsani

**Signature:** /s/ Mahvash Ehsani

**Name/Title:** Mahvash Ehsani

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Jennifer Gareis

**Signature:** /s/ Jennifer Gareis

**Name/Title:** Jennifer Gareis

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Christina Matthias

**Signature:** /s/ Christina Matthias

**Name/Title:** Christina Matthias

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Eric Ghassemieh

**Signature:** /s/ Eric Ghassemieh

**Name/Title:** Eric Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Gavin Ghassemieh

**Signature:** /s/ Jennifer Gareis

**Name/Title:** Jennifer Gareis, on behalf of minor child Gavin Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Sophia Ghassemieh

**Signature:** /s/ Jennifer Gareis

**Name/Title:** Jennifer Gareis, on behalf of minor child Gavin Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Lewis Stanton

**Signature:** /s/ Lewis Stanton

**Name/Title:** Lewis Stanton

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Farhad Ghassemieh

**Signature:** /s/ Farhad Ghassemieh

**Name/Title:** Farhad Ghassemieh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Cyrus Amirsaleh

**Signature:** /s/ Cyrus Amirsaleh

**Name/Title:** Cyrus Amirsaleh

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Fred Ghassemieh Children's Trust

**Signature:** /s/ Fred Ghassemieh

**Name/Title:** Fred Ghassemieh, Trustee

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Feridoon Ghassemieh Descendant's Trust

**Signature:** /s/ Fred Ghassemieh

**Name/Title:** Fred Ghassemieh, Trustee

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Trust FBO Feridoon Ghassemieh

**Signature:** /s/ Farhad Ghassemieh

**Name/Title:** Farhad Ghassemieh, Trustee

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Trust FBO Alex Ghassemieh

**Signature:** /s/ Lewis Stanton

**Name/Title:** Lewis Stanton, Trustee

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Bob Ghassemieh 2021 Children's Trust

**Signature:** /s/ Babak Ghassemieh

**Name/Title:** Babak Ghassemieh, Trustee

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Lillian Ghassemieh 2021 Children's Trust

**Signature:** /s/ Babak Ghassemieh

**Name/Title:** Babak Ghassemieh, Trustee

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Trust FBO Firouzeh Ghassemieh

**Signature:** /s/ Farhad Ghassemieh

**Name/Title:** Farhad Ghassemieh, Trustee

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Alpine Lake Partners, LP

**Signature:** /s/ Cyrus Amirsaleh

**Name/Title:** Cyrus Amirsaleh, Manager

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BL PCH LLC

**Signature:** /s/ Babak Ghassemieh

**Name/Title:** Babak Ghassemieh, Manager

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Pacific SHG Ventures, LLC

**Signature:** /s/ Alex Ghassemieh

**Name/Title:** Alex Ghassemieh, Manager

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Morning View Hotels BH I, LLC

**Signature:** /s/ Babak Ghassemieh

**Name/Title:** Babak Ghassemieh, Manager

**Date:** 06/05/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Palm Lake GP, LLC

**Signature:** /s/ Cyrus Amirsaleh

**Name/Title:** Cyrus Amirsaleh, Manager

**Date:** 06/05/2025