# EDGAR Filing Document

**Accession Number:** 0001524025
**File Stem:** 0000929638-23-000062
**Filing Date:** 2023-1
**Character Count:** 13608
**Document Hash:** 3667a46642a241cdbcaff3c0acb00df5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000929638-23-000062.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0000929638-23-000062

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20220721

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Pleasant Lake Onshore Feeder Fund LP
- **CENTRAL INDEX KEY:** 0001567434
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35535
- **FILM NUMBER:** 23521537

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CARR 115 UNIT 1900
- **CITY:** RINCON
- **STATE:** PR
- **ZIP:** 00677
- **BUSINESS PHONE:** (212) 554-0685

**MAIL ADDRESS:**
- **STREET 1:** 100 CARR 115 UNIT 1900
- **CITY:** RINCON
- **STATE:** PR
- **ZIP:** 00677
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Fund 1 Investments, LLC
- **CENTRAL INDEX KEY:** 0001959730
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35535
- **FILM NUMBER:** 23521538

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CARR 115
- **STREET 2:** UNIT 1900
- **CITY:** RINCON
- **STATE:** PR
- **ZIP:** 00677
- **BUSINESS PHONE:** 804-363-4458

**MAIL ADDRESS:**
- **STREET 1:** 100 CARR 115
- **STREET 2:** UNIT 1900
- **CITY:** RINCON
- **STATE:** PR
- **ZIP:** 00677
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Pleasant Lake Partners LLC
- **CENTRAL INDEX KEY:** 0001580144
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35535
- **FILM NUMBER:** 23521536

**BUSINESS ADDRESS:**
- **STREET 1:** 100 CARR 115 UNIT 1900
- **CITY:** RINCON
- **STATE:** PR
- **ZIP:** 00677
- **BUSINESS PHONE:** 212-554-0680

**MAIL ADDRESS:**
- **STREET 1:** 100 CARR 115 UNIT 1900
- **CITY:** RINCON
- **STATE:** PR
- **ZIP:** 00677
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TILLY'S, INC.
- **CENTRAL INDEX KEY:** 0001524025
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-APPAREL & ACCESSORY STORES [5600]
- **IRS NUMBER:** 452164791
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0128

**BUSINESS ADDRESS:**
- **STREET 1:** 10 WHATNEY
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** (949) 609-5599

**MAIL ADDRESS:**
- **STREET 1:** 10 WHATNEY
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Fund 1 Investments, LLC<br><sub>(Last) (First) (Middle)</sub><br>100 CARR 115<br>UNIT 1900<br><sub>(Street)</sub><br>RINCON, PR 00677<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-07-21 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>TILLY'S, INC. [ TLYS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Pleasant Lake Onshore Feeder Fund LP<br><sub>(Last) (First) (Middle)</sub><br>100 CARR 115<br>UNIT 1900<br><sub>(Street)</sub><br>RINCON, PR 00677<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-07-21 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>TILLY'S, INC. [ TLYS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Pleasant Lake Partners LLC<br><sub>(Last) (First) (Middle)</sub><br>100 CARR 115<br>UNIT 1900<br><sub>(Street)</sub><br>RINCON, PR 00677<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-07-21 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>TILLY'S, INC. [ TLYS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2022-07-21 |  | P |  | 10000 | A | $7.9961 | 1886106 | I | See Footnotes<sup>(1)(2)(3)</sup> |
| Class A Common Stock | 2022-07-26 |  | P |  | 18000 | A | $7.537 | 1904106 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-07-27 |  | P |  | 21000 | A | $7.5443 | 1925106 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-07-29 |  | P |  | 20000 | A | $7.578 | 1945106 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-05 |  | P |  | 15000 | A | $7.7627 | 1960106 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-09 |  | P |  | 10000 | A | $7.5687 | 1970106 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-10 |  | P |  | 16000 | A | $7.7368 | 1986106 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-12 |  | P |  | 3900 | A | $8.1022 | 1990006 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-15 |  | P |  | 5000 | A | $8.1173 | 1995006 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-16 |  | P |  | 60096 | A | $8.3004 | 60096 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-08-16 |  | P |  | 15000 | A | $8.1569 | 2010006 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-19 |  | P |  | 33306 | A | $8.3748 | 93402 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-08-22 |  | P |  | 55000 | A | $8.0237 | 148402 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-08-22 |  | P |  | 55000 | A | $8.0237 | 2065006 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-23 |  | P |  | 8000 | A | $8.025 | 156402 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-08-23 |  | P |  | 8000 | A | $8.016 | 2073006 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-08-24 |  | P |  | 20000 | A | $7.9332 | 176402 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-08-29 |  | P |  | 30000 | A | $7.8679 | 206402 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-08-30 |  | P |  | 25000 | A | $7.7117 | 231402 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-08-31 |  | P |  | 17772 | A | $7.5142 | 2090778 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-01 |  | P |  | 80000 | A | $7.3097 | 311402 | I | See Footnotes<sup>(1)(4)</sup> |
| Class A Common Stock | 2022-09-01 |  | P |  | 1000 | A | $7.3991 | 2091778 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-02 |  | P |  | 41000 | A | $6.773 | 2132778 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-02 |  | P |  | 1000 | A | $6.9831 | 2133778 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-02 |  | P |  | 1000 | A | $7.0548 | 2134778 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-06 |  | P |  | 1300 | A | $6.8 | 2136078 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-07 |  | P |  | 20000 | A | $7.0434 | 2156078 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-08 |  | P |  | 25000 | A | $6.8681 | 2181078 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-08 |  | P |  | 15000 | A | $6.8832 | 2196078 | I | See Footnotes<sup>(1)(2)</sup> |
| Class A Common Stock | 2022-09-09 |  | P |  | 10800 | A | $6.9499 | 2206878 | I | See Footnotes<sup>(1)(2)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Shares reported herein are held for the benefit of Pleasant Lake Onshore Feeder Fund, LP (the "PL Fund") and additional private investment vehicles for which Pleasant Lake Partners LLC ("PLP") serves as investment adviser. Fund 1 Investments, LLC serves as managing member of PLP. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of its or his pecuniary interest therein.

(2) Shares held for the account of the PL Fund.

(3) Reserved.

(4) Shares held for the account of an unaffiliated private fund for which PLP serves as investment adviser ("Client 3").

**Remarks:**
This Form 4 constitutes part one of six Forms 4 (collectively, the "Reports") filed by the Reporting Persons to report transactions in securities of the Issuer since March 21, 2022.  The Reporting Persons have determined that certain sales made by accounts for which PLP serves as investment adviser, as reported in the Reports, were matchable with purchases by such accounts under Section 16(b) of the Securities Exchange Act of 1934. The Reporting Persons have sent the Company payment of the full amount of their pecuniary interest in the disgorgeable profits arising from such transactions.

**Signature:** /s/ Fund 1 Investments, LLC
By: Benjamin C. Cable, Chief Operating Officer  
**Date:** 2023-01-10

**Signature:** /s/ Pleasant Lake Onshore Feeder Fund, LP, by Pleasant Lake Partners LLC, its Investment Adviser, by Fund 1 Investments, LLC, its Managing Member, by Benjamin C. Cable, Chief Operating Officer  
**Date:** 2023-01-10

**Signature:** /s/ Pleasant Lake Partners LLC, by Fund 1 Investments, LLC, its Managing Member, by Benjamin C. Cable, Chief Operating Officer  
**Date:** 2023-01-10

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**