Fund 1 Investments, LLC 4
4 · TILE SHOP HOLDINGS, INC. · Filed Dec 11, 2025
Insider Transaction Report
Form 4
Fund 1 Investments, LLC
10% Owner
Transactions
- Exercise of In-MoneySwap
Cash-Settled Total Return Swap
2025-12-09$6.41/sh−60,888$390,530→ 841,225 total(indirect: See Footnote)Exp: 2028-04-07→ Common Stock (60,888 underlying) - Exercise of In-MoneySwap
Cash-Settled Total Return Swap
2025-12-10$6.45/sh−235,478$1,518,268→ 605,747 total(indirect: See Footnote)Exp: 2028-04-07→ Common Stock (235,478 underlying) - Exercise of In-MoneySwap
Cash-Settled Total Return Swap
2025-12-11$6.44/sh−123,044$791,997→ 482,703 total(indirect: See Footnote)Exp: 2028-04-07→ Common Stock (123,044 underlying)
Footnotes (5)
- [F1]Securities reported herein for Fund 1 Investments, LLC are held by private investment vehicles for which Pleasant Lake Partners LLC serves as investment adviser. Fund 1 Investments, LLC serves as managing member of Pleasant Lake Partners LLC. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.
- [F2]The Reporting Person previously entered into certain cash-settled total return swap arrangements with an unaffiliated third party financial institution. On December 9, 2025, the Reporting Person exercised 60,888 of such cash-settled total return swap agreements in exchange for $6.4139 per swap agreement in accordance with the terms of such swap agreements.
- [F3]The expiration date of the swap agreements will be automatically extended for successive 12 month periods unless one party provides written notice to the other party, at least 30 calendar days prior to the first extension and at least 15 days prior to any subsequent extension, not to so extend the expiration date.
- [F4]The Reporting Person previously entered into certain cash-settled total return swap arrangements with an unaffiliated third party financial institution. On December 10, 2025, the Reporting Person exercised 235,478 of such cash-settled total return swap agreements in exchange for $6.4476 per swap agreement in accordance with the terms of such swap agreements.
- [F5]The Reporting Person previously entered into certain cash-settled total return swap arrangements with an unaffiliated third party financial institution. On December 11, 2025, the Reporting Person exercised 123,044 of such cash-settled total return swap agreements in exchange for $6.4367 per swap agreement in accordance with the terms of such swap agreements.