Beyond Meat Amends 2030 Notes Indenture to Adjust Conversion Terms

What Happened

• On August 10, 2026, Beyond Meat, Inc. announced it entered into a Second Supplemental Indenture with Wilmington Trust, National Association (the Trustee) to amend the Indenture governing its 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (the "2030 Notes").
• The amendment modifies certain conversion and repurchase provisions of the 2030 Notes, including removing restrictions on repurchasing/exchanging the Company’s outstanding 0% Convertible Senior Notes due 2027 (the "2027 Notes") and extending the make-whole period used to calculate an interest make-whole adjustment.

Key Details

• Date of amendment: August 10, 2026. Trustee: Wilmington Trust, National Association.
• Notes affected: 7.00% Convertible Senior Secured Second Lien PIK Toggle Notes due 2030 (the 2030 Notes) and 0% Convertible Senior Notes due 2027 (the 2027 Notes).
• Specific changes: (1) Section 4.19 of the 2030 Notes Indenture was amended to remove certain restrictions on the Company’s ability to repurchase or exchange the 2027 Notes for cash and/or equity; (2) Section 14.03 was amended to extend the end date of the make-whole period for calculating the interest make-whole adjustment on conversions of 2030 Notes from October 15, 2028 to January 15, 2029.
• The full Second Supplemental Indenture is filed as Exhibit 10.1 to the Form 8-K.

Why It Matters

• These amendments change the mechanics and timing that affect conversions and potential repurchases of the company’s convertible notes. Removing repurchase/exchange restrictions on the 2027 Notes gives the company more flexibility to manage that outstanding debt for cash or equity consideration.
• Extending the make-whole period by three months (to January 15, 2029) affects how conversion-related adjustments to interest are calculated, which could influence the economic outcome for holders who convert 2030 Notes during that extended period.
• Investors should note this is a contractual amendment to the capital structure terms; the filing does not indicate new securities issuance or state any transaction beyond the amended indenture itself.