Jersey Mike's (JMKE) ADIA (10% Owner) Sells 4.41M Shares

What Happened Abu Dhabi Investment Authority (ADIA), reported as a 10% owner via affiliated entities, sold 4,411,064 shares of Jersey Mike's Subs Inc. (JMKE) on July 31, 2026. The shares were disposed at $21.85 per share for total proceeds of $96,381,748. The filing shows these shares were sold in connection with the issuer's offering structure (see footnotes).

Key Details

• Transaction date: 2026-07-31 (Filed: 2026-08-04)
• Sale type/code: S (sale); price $21.85 per share
• Shares sold: 4,411,064; proceeds: $96,381,748 (~$96.38M)
• Shares owned after transaction: Not specified in this Form 4
• Relevant footnotes:
  • F1: The $21.85 reflects the $23.00 secondary public offering price less a $1.15 underwriting discount per share in connection with the issuer's offering.
  • F2: The reporting chain: Platinum Falcon B 2018 RSC Limited → Platinum International Investment Holdings RSC Limited → Abu Dhabi Investment Authority; these entities may be deemed to beneficially own the reported shares.
  • F3: Reporting persons disclaim Section 16 beneficial ownership except to the extent of pecuniary interest.
• Filing timeliness: The Form 4 was filed four days after the reported transaction date; this appears later than the standard two-business-day reporting window.

Context This sale was executed by a large institutional holder (ADIA and related entities), not an executive officer. Footnotes indicate the transaction relates to shares sold in connection with the issuer's offering (secondary public offering/IPO-related sale) rather than a routine small open-market trade. Institutional sales like this are typically liquidity or offering-related and should be interpreted differently than insider purchases by executives.