Pleasant Lake Partners LLC 4
4 · TILE SHOP HOLDINGS, INC. · Filed Jul 16, 2025
Insider Transaction Report
Form 4
Fund 1 Investments, LLC
10% Owner
Transactions
- PurchaseSwap
Cash-Settled Total Return Swap
2025-07-14$6.48/sh+25,000$161,950→ 857,113 total(indirect: See Footnotes)Exp: 2028-04-07→ Common Stock (25,000 underlying) - PurchaseSwap
Cash-Settled Total Return Swap
2025-07-15$6.56/sh+10,000$65,605→ 867,113 total(indirect: See Footnotes)Exp: 2028-04-07→ Common Stock (10,000 underlying)
Holdings
- 11,856,805(indirect: See Footnotes)
Common Stock
- 1,002,207(indirect: See Footnotes)
Common Stock
Footnotes (6)
- [F1]Securities reported herein are held for the benefit of PLP Funds Master Fund LP (the "PL Fund") and an additional private investment vehicle 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.
- [F2]Securities held for the account of the PL Fund.
- [F3]Shares held for the account of an unaffiliated private fund for which PLP serves as investment adviser.
- [F4]The Reporting Persons have entered into certain cash-settled total return swap arrangements with an unaffiliated third party financial institution, which provide the Reporting Persons with economic exposure to 25,000 notional shares of common stock for a price of $6.478 per share. The swap agreements provide the Reporting Persons with economic results that are comparable to the economic results of ownership but do provide the Reporting Persons with the power to vote or direct the voting or dispose of or direct the disposition of the shares of common stock that are the subject of the swap agreements (the "Subject Shares"). Each of the Reporting Persons disclaims beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein.
- [F5]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.
- [F6]The Reporting Persons have entered into certain cash-settled total return swap arrangements with an unaffiliated third party financial institution, which provide the Reporting Persons with economic exposure to 10,000 notional shares of common stock for a price of $6.5605 per share. The swap agreements provide the Reporting Persons with economic results that are comparable to the economic results of ownership but do provide the Reporting Persons with the power to vote or direct the voting or dispose of or direct the disposition of the shares of common stock that are the Subject Shares. Each of the Reporting Persons disclaims beneficial ownership of the Subject Shares except to the extent of its or his pecuniary interest therein.