BENDHEIM JACK 4

What Happened

• Jack Bendheim (10% owner, director and officer) converted Class B shares into Class A on March 12, 2026 (100,000 shares converted one‑for‑one, no cash) and sold 5,280 Class A shares in the open market on March 13, 2026 for roughly $258,245 (weighted average price $48.91). The sale was executed under a Rule 10b5‑1 trading plan.

Key Details

• Transaction dates: conversion on 2026-03-12; open‑market sale on 2026-03-13.
• Sale price/amount: weighted average $48.91 per share; total proceeds ≈ $258,245. Reported per‑trade prices ranged from $48.48 to $49.32.
• Conversion: 100,000 Class B shares converted to Class A shares at $0 cash outlay (Class B convertible one‑for‑one; no expiration).
• Holding vehicle/disclaimer: some securities are reported as held by BFI Co., LLC (a vehicle over which Mr. Bendheim exercises voting/dispositive power); Mr. Bendheim disclaims beneficial ownership except to the extent of his pecuniary interest.
• Sales mechanism: sales were effected pursuant to a 10b5‑1 plan adopted by BFI on Dec 11, 2025.
• Shares owned after transaction: not specified in this Form 4.
• Filing timeliness: form filed 2026-03-16 for transactions on 3/12–3/13; no late‑filing flag is indicated in the filing.

Context

• The conversion of Class B to Class A is a paperwork/structural change (one‑for‑one conversion) and did not involve cash. The only cash‑generating action reported here was the small open‑market sale of 5,280 shares under a pre‑arranged 10b5‑1 plan, which is typically a routine, pre‑planned disposition rather than an ad‑hoc sale reflecting new information.