# EDGAR Filing Document

**Accession Number:** 0000095029
**File Stem:** 0000921895-26-000656
**Filing Date:** 2026-3
**Character Count:** 15830
**Document Hash:** 0982812d5e02be8709fbd96ba82f69ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-26-000656.hdr.sgml**: 20260310

**ACCESSION NUMBER**: 0000921895-26-000656

**CONFORMED SUBMISSION TYPE**: DFAN14A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20260310

**DATE AS OF CHANGE**: 20260310

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** STURM RUGER & CO INC
- **CENTRAL INDEX KEY:** 0000095029
- **STANDARD INDUSTRIAL CLASSIFICATION:** ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 060633559
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DFAN14A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10435
- **FILM NUMBER:** 26740469

**BUSINESS ADDRESS:**
- **STREET 1:** 1 LACEY PLACE
- **CITY:** SOUTHPORT
- **STATE:** CT
- **ZIP:** 06490
- **BUSINESS PHONE:** 2032597843

**MAIL ADDRESS:**
- **STREET 1:** 1 LACEY PLACE
- **CITY:** SOUTHPORT
- **STATE:** CT
- **ZIP:** 06490
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Beretta Holding S.A.
- **CENTRAL INDEX KEY:** 0002086731

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** DFAN14A

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 9 RUE SAINTE ZITHE, L-2763
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **ZIP:** 00000
- **BUSINESS PHONE:** 352 691 325 028

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 9 RUE SAINTE ZITHE, L-2763
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **ZIP:** 00000

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Beretta Holdings S.A.
- **DATE OF NAME CHANGE:** 20250918

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**SCHEDULE 14A**

(Rule 14a-101)

INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

(Amendment No.)

Filed by the Registrant ☐

Filed by a Party other than the Registrant ☒

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☐ Definitive Proxy Statement

☐ Definitive Additional Materials

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☒ Soliciting Material Under § 240.14a-12

---

| |
|:---|
| STURM, RUGER & COMPANY, INC. |
| (Name of Registrant as Specified In Its Charter) |
| BERETTA HOLDING S.A.<br> MICHAEL CHRISTODOLOU<br> WILLIAM F. DETWILER<br> MARK W. DEYOUNG<br> FREDRICK DISANTO<br>|
| (Name of Persons(s) Filing Proxy Statement, if other than the Registrant) |

---

Payment of Filing Fee (Check all boxes that apply):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☒ No fee required

☐ Fee paid previously with preliminary materials

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

Beretta Holding S.A. ("Beretta Holding"), together with the other participants named herein, intends to file a preliminary proxy statement and accompanying WHITE universal proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of Beretta Holding's slate of director nominees at the 2026 annual meeting of stockholders (the "Annual Meeting") of Sturm, Ruger & Company, Inc., a Delaware corporation (the "Company").

Item 1: On March 10, 2026, Beretta Holding issued the following press release:

**Beretta Holding Responds to Ruger's Blatantly False and Misleading Statements**

*Did Not Seek "Control" of Ruger; Proposed a Strategic Minority Investment on Market Terms that Would Benefit All Shareholders*

 

*Highlights that Ruger's Recent Board Changes Leave the Longstanding Sphere of Influence Around Board Leadership Largely Intact*

 

*Ruger's Attempts to Suggest Potential Regulatory and National Security Issues Are Transparent Scare Tactics Aimed to Distract from the Board's Oversight Failures*

 

*Disappointed the Board Chose to Egregiously Breach Confidentiality Agreement with Beretta Holding Rather than Continue Private Discussions to Finalize a Strategic Collaboration*

 

*Remains Committed to Reaching a Constructive Solution that Would Help Reverse Persistent Underperformance – Underscored by the Company's Disappointing Full-Year Results* 

LUXEMBOURG-- Beretta Holding S.A. ("Beretta Holding" or "we"), a family-owned group leading the global premium light firearms, optics and ammunition industry and the largest shareholder of Sturm, Ruger & Company, Inc. ("Ruger" or the "Company"), with 9.95% ownership of the Company's outstanding common stock, today issued the following clarification to fellow shareholders of Ruger:

&nbsp;&nbsp;&nbsp;&nbsp;**1.**  **<u>From the outset, Beretta Holding's objective has been collaborative engagement focused on how we can partner with Ruger to improve performance and deliver sustainable long-term value for all shareholders, employees and customers</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· All discussions with the Ruger Board of Directors
(the "Board") were conducted in confidence with the objective of reaching a negotiated settlement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· During our confidential discussions with the Board,
Beretta Holding opened a negotiation of potential structures to make a strategic minority investment in Ruger. The intention has always
been to make an investment on market terms and in a manner that would benefit all shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Such an investment would allow
Ruger to draw on Beretta Holding's five centuries of operating expertise in the global firearms sector to reverse its downward trajectory. T his need for operational improvement is evident in Ruger's
deteriorating financial performance, with operating income declining by nearly $65 million over the last two years, from $52 million in
2023 to an operating loss of $12 million in 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Unfortunately, we have continuously been met with
opposition from the Company, which has adopted a poison pill in response to our investment, insisted that we immediately enter into unusually
restrictive standstill agreements before any meaningful discussions occurred and announced a reactive Board refresh amid active negotiations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· In our view, this posture raises questions about
the Board's willingness to engage in good faith and suggests a preference for maintaining the status quo over meaningful shareholder
engagement.

&nbsp;&nbsp;&nbsp;&nbsp;**2.**  **<u>Despite appointing three new members to its Board, the longstanding sphere of influence around Board leadership remains largely intact, leaving the overall balance of the Board effectively the same</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The reality is that certain long-tenured directors
continue to occupy key leadership positions on the Board. These directors, who have a combined 65 years of tenure, are the same individuals
who oversaw the Company during a period of significant underperformance. Yet the recent "refresh" seemingly leaves them insulated
from accountability while shareholders bear the consequences.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Board has further entrenched these directors
through its newly adopted retirement policy, which imposes age and tenure limits only on new directors while explicitly carving out protections
for existing leadership. Under this framework, incumbent directors may remain on the Board despite having more than two decades of service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· This lack of accountability is particularly concerning
given the Board's compensation and track record. Between 2018 and 2025, these same directors collected more than $5.7 million in
aggregate compensation while Ruger's shares have returned -13.81%, underperforming the Russell 2000 by 71.96%.<sup>1</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Even after the upcoming Annual Meeting reduces
the Board to nine directors, Ruger will still maintain a larger board than peer Smith & Wesson Brands Inc.'s ("Smith &
Wesson") seven-member board, despite Smith & Wesson delivering stronger financial performance. In our view, Ruger's unnecessarily
large board structure further dilutes accountability.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· It is therefore ironic that the Board has falsely
painted our efforts to increase our ownership and align ourselves with all shareholders as an attempt to take control, when the long-tenured
directors have effectively maintained full boardroom control while owning such a de minimis position in the Company despite their decades-long
tenure.

&nbsp;&nbsp;&nbsp;&nbsp;**3.**  **<u>Beretta Holding has nominated a minority slate of experienced nominees that are running as independent directors, and at no time did we suggest appointing our CEO to Ruger's Board. Any implication that Beretta Holding proposed actions that would violate applicable rules or regulations is simply false</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· As Ruger's largest shareholder, Beretta
Holding discussed the possibility of minority board representation – hardly a disproportionate request. Any suggestion that Beretta
Holding sought "control" of Ruger or proposed actions inconsistent with applicable antitrust or regulatory requirements are
entirely false.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Our primary objective is to restore proper alignment
and strengthen oversight so that Ruger can maximize long-term value for shareholders, employees and customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Our nominees bring deep capital allocation, operating,
industry and corporate governance expertise and are prepared to introduce the disciplined oversight and fresh perspectives that we believe
are urgently needed to help reverse shareholder value destruction and rebuild investor confidence.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· There is absolutely no reason our independent,
highly qualified nominees could not have been considered as part of Ruger's board "refresh."

**<u>Beretta Holding is disappointed that Ruger has elected to egregiously violate its contractual obligations under its Confidentiality Agreement with us and share confidential discussions in an underhanded, distorted attempt to discredit Beretta Holding</u>**. During these confidential discussions, we consistently sought a constructive and collaborative resolution that would have benefited all shareholders without the need for a costly and distracting contested election. We remain open to a negotiated outcome and believe such a resolution would best serve Ruger and its shareholders.

------

<sup>1</sup> FactSet. Total Shareholder Return from Jan. 2, 2018 to Dec. 31, 2024.

Visit <u>www.ReloadRuger.com</u> to learn more about our campaign and sign up to receive important updates.

\*\*\*

**<u>About Beretta Holding S.A.</u>**

With roots dating back to **1526**, Beretta Holding is a global family-owned industrial group operating through **more than 50 subsidiaries and over 20 internationally recognized brands**, with a strong manufacturing footprint in Europe and the United States supporting defense, law enforcement, hunting and shooting sports markets.

**CERTAIN INFORMATION CONCERNING THE PARTICIPANTS**

Beretta Holding S.A. ("Beretta Holding") intends to file a preliminary proxy statement and accompanying WHITE universal proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of Beretta Holding's slate of highly qualified director nominees at the 2026 annual meeting of stockholders of Sturm, Ruger & Company, Inc., a Delaware corporation (the "Company").

BERETTA HOLDING STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS, INCLUDING A PROXY CARD, AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT <u>HTTP://WWW.SEC.GOV</u>. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.

The participants in the proxy solicitation are anticipated to be Beretta Holding, William F. Detwiler, Mark DeYoung, Fredrick DiSanto and Michael Christodolou.

As of the date hereof, Beretta Holding directly beneficially owns 1,587,000 shares of common stock, $1 par value per share, of the Company (the "Common Stock"). As of the date hereof, Messrs. Detwiler, DeYoung, DiSanto and Christodolou do not beneficially own any shares of Common Stock. As one of the most experienced operators in the global firearms industry, Beretta Holding's only other interest in connection with its investment in the Company at the present is to seek to partner with the Company in order to improve performance and deliver sustainable long-term value for all shareholders, employees and customers.

**Contacts**

**For Media**:<br> Longacre Square Partners<br> <u>beretta@longacresquare.com</u>

**For Investors**:<br> Saratoga Proxy Consulting LLC<br> John Ferguson, 212-257-1311<br> <u>info@saratogaproxy.com</u>

Item 2: Also on March 10, 2026, Beretta Holding posted the following material to <u>www.ReloadRuger.com</u>:

![](image_001.jpg)

![](image_002.jpg)

**<u>CERTAIN INFORMATION CONCERNING THE PARTICIPANTS</u>**

Beretta Holding S.A. ("Beretta Holding") intends to file a preliminary proxy statement and accompanying WHITE universal proxy card with the Securities and Exchange Commission ("SEC") to be used to solicit votes for the election of Beretta Holding's slate of highly qualified director nominees at the 2026 annual meeting of stockholders of Sturm, Ruger & Company, Inc., a Delaware corporation (the "Company").

BERETTA HOLDING STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS, INCLUDING A PROXY CARD, AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT <u>HTTP://WWW.SEC.GOV</u>. IN ADDITION, THE PARTICIPANTS IN THIS PROXY SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR.

The participants in the proxy solicitation are anticipated to be Beretta Holding, William F. Detwiler, Mark DeYoung, Fredrick DiSanto and Michael Christodolou.

As of the date hereof, Beretta Holding directly beneficially owns 1,587,000 shares of common stock, $1 par value per share, of the Company (the "Common Stock"). As of the date hereof, Messrs. Detwiler, DeYoung, DiSanto and Christodolou do not beneficially own any shares of Common Stock. As one of the most experienced operators in the global firearms industry, Beretta Holding's only other interest in connection with its investment in the Company at the present is to seek to partner with the Company in order to improve performance and deliver sustainable long-term value for all shareholders, employees and customers.