CONWAY SHAWN 4

What Happened
Shawn Conway, a director of BellRing Brands, was credited with 2,575.926 common stock equivalents (reported as a derivative award) on July 1, 2026, valued at $12.94 each for a total of $33,332. This filing reports an award/acquisition of stock equivalents under the company's director deferred compensation plan, not an open-market buy or sale.

Key Details

• Transaction date: 2026-07-01; Filing date: 2026-07-06 (appears timely).
• Instrument: 2,575.926 common stock equivalents (reported as a derivative award) at $12.94 per share; total reported value $33,332.
• Shares owned after transaction: Not specified in this Form 4.
• Footnotes: F1 — Retainer earned as a director is deferred into common stock equivalents and credited quarterly; distributed one-for-one in common stock upon the director's retirement. F2 — These stock equivalents have no fixed exercisable or expiration dates.
• Transaction code: A (award/acquisition); classified as a derivative transaction.

Context
This is an internal deferred-compensation credit (stock equivalents) rather than a market purchase or sale. These credits accumulate and are converted to actual shares upon retirement from the board, so they do not reflect an immediate change in tradable share ownership.