Schmidt Michael Ryan 4

What Happened

• Michael Ryan Schmidt, Principal Accounting Officer of Black Rock Coffee Bar, purchased 7,100 shares of BRCB in an open-market/private purchase on May 20, 2026. The shares were bought at $6.98 each for a total reported cost of $49,558. This was a purchase (a net buy), which many investors view as a potentially bullish signal since insiders are acquiring company stock.

Key Details

• Transaction date and price: 2026-05-20 at $6.98 per share (weighted average); total reported value $49,558.
• Filing date: 2026-05-21 (filed the day after the trade), so the Form 4 appears timely.
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Footnote: The reported price is a weighted average of multiple purchase transactions; all were at $6.98. The reporting person will provide details of individual purchase amounts/prices upon request (per footnote F1).
• Transaction code: P = Purchase.

Context

• This was a straight share purchase (no option exercise, grant, gift, or withholding involved). Purchases by officers can be of interest to retail investors because they show the insider acquiring equity, but they do not by themselves indicate future performance.