# EDGAR Filing Document

**Accession Number:** 0001891101
**File Stem:** 0000921895-25-001827
**Filing Date:** 2025-6
**Character Count:** 12739
**Document Hash:** df321f1faa7189c29d8796a7a022f958
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-25-001827.hdr.sgml**: 20250623

**ACCESSION NUMBER**: 0000921895-25-001827

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250618

**FILED AS OF DATE**: 20250623

**DATE AS OF CHANGE**: 20250623

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Engaged Capital LLC
- **CENTRAL INDEX KEY:** 0001559771

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41275
- **FILM NUMBER:** 251066026

**BUSINESS ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 950
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** 949-734-7900

**MAIL ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 950
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Engaged Capital Flagship Master Fund, LP
- **CENTRAL INDEX KEY:** 0001580761

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41275
- **FILM NUMBER:** 251066024

**BUSINESS ADDRESS:**
- **STREET 1:** CRICKET SQUARE, HUTCHINS DRIVE
- **STREET 2:** P.O. BOX 2681
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1111
- **BUSINESS PHONE:** (949) 734-7900

**MAIL ADDRESS:**
- **STREET 1:** CRICKET SQUARE, HUTCHINS DRIVE
- **STREET 2:** P.O. BOX 2681
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1111

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Engaged Capital Master Feeder II, LP
- **DATE OF NAME CHANGE:** 20130703
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Engaged Capital Holdings, LLC
- **CENTRAL INDEX KEY:** 0001580769

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41275
- **FILM NUMBER:** 251066025

**BUSINESS ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 950
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
- **BUSINESS PHONE:** (949) 734-7900

**MAIL ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 950
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Welling Glenn W.
- **CENTRAL INDEX KEY:** 0001580771

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41275
- **FILM NUMBER:** 251066027

**MAIL ADDRESS:**
- **STREET 1:** 610 NEWPORT CENTER DRIVE
- **STREET 2:** SUITE 950
- **CITY:** NEWPORT BEACH
- **STATE:** CA
- **ZIP:** 92660
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BRC Inc.
- **CENTRAL INDEX KEY:** 0001891101
- **STANDARD INDUSTRIAL CLASSIFICATION:** BEVERAGES [2080]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 873277812
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1144 S 500 W
- **CITY:** SALT LAKE CITY
- **STATE:** UT
- **ZIP:** 84101
- **BUSINESS PHONE:** (801) 874-1189

**MAIL ADDRESS:**
- **STREET 1:** 1144 S 500 W
- **CITY:** SALT LAKE CITY
- **STATE:** UT
- **ZIP:** 84101

### 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>Welling Glenn W.<br><sub>(Last) (First) (Middle)</sub><br>C/O ENGAGED CAPITAL, LLC<br>610 NEWPORT CENTER DRIVE, SUITE 950<br><sub>(Street)</sub><br>NEWPORT BEACH, CA 92660<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-18 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>BRC Inc. [ BRCC ] | **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>Engaged Capital LLC<br><sub>(Last) (First) (Middle)</sub><br>610 NEWPORT CENTER DRIVE<br>SUITE 950<br><sub>(Street)</sub><br>NEWPORT BEACH, CA 92660<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-18 | **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>BRC Inc. [ BRCC ] | **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>Engaged Capital Holdings, LLC<br><sub>(Last) (First) (Middle)</sub><br>610 NEWPORT CENTER DRIVE<br>SUITE 950<br><sub>(Street)</sub><br>NEWPORT BEACH, CA 92660<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-18 | **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>BRC Inc. [ BRCC ] | **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>Engaged Capital Flagship Master Fund, LP<br><sub>(Last) (First) (Middle)</sub><br>CRICKET SQUARE, HUTCHINS DRIVE<br>P.O. BOX 2681<br><sub>(Street)</sub><br>GRAND CAYMAN, E9 KY1-1111<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-18 | **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>BRC Inc. [ BRCC ] | **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<sup>(1)</sup> | 2025-06-18 |  | A |  | 133567<sup>(2)</sup> | A | $0.00 | 255091 | D |  |
| Class A Common Stock<sup>(1)</sup> |  |  |  |  |  |  |  | 13535560 | I | By: Engaged Capital Flagship Master Fund, LP<sup>(3)</sup> |
| Class A Common Stock<sup>(1)</sup> |  |  |  |  |  |  |  | 506092 | I | By: Welling Family Trust<sup>(4)</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) This Form 4 is filed jointly by Engaged Capital Flagship Master Fund, LP ("Engaged Capital Flagship Master"), Engaged Capital, LLC ("Engaged Capital"), Engaged Capital Holdings, LLC ("Engaged Holdings") and Glenn W. Welling (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of BRC Inc.'s (the "Issuer") outstanding Class A Common Stock. Mr. Welling is a director of the Issuer. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

(2) Represents awards of restricted stock units under the 2022 Omnibus Incentive Plan of BRC Inc. in the form of (i) 87,413 restricted stock units that vest on the first anniversary of the grant date and (ii) 46,154 restricted stock units that vest in equal quarterly installments until the first anniversary of the grant date. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock upon settlement for no consideration.

(3) Securities owned directly by Engaged Capital Flagship Master. As the general partner and investment adviser of Engaged Capital Flagship Master, Engaged Capital may be deemed to beneficially own the securities owned directly by Engaged Capital Flagship Master. Engaged Holdings, as the managing member of Engaged Capital, may be deemed to beneficially own the securities owned directly by Engaged Capital Flagship Master. Mr. Welling, by virtue of his position as the founder and Chief Investment Officer of Engaged Capital, and as the sole member of Engaged Holdings, may be deemed to beneficially own the securities owned directly by Engaged Capital Flagship Master.

(4) Securities held in the Welling Family Trust. Mr. Welling, as Trustee of the Welling Family Trust, may be deemed to beneficially own the securities held in the Welling Family Trust.

**Signature:** /s/ Glenn W. Welling  
**Date:** 2025-06-23

**Signature:** Engaged Capital, LLC; By: /s/ Glenn W. Welling, Authorized Signatory  
**Date:** 2025-06-23

**Signature:** Engaged Capital Holdings, LLC; By: /s/ Glenn W. Welling, Authorized Signatory  
**Date:** 2025-06-23

**Signature:** Engaged Capital Flagship Master Fund, LP; By: Engaged Capital, LLC; By: /s/ Glenn W. Welling, Authorized Signatory  
**Date:** 2025-06-23

### 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.**