ARK Restaurants (ARKR) 10% Owner Michael Weinstein Sells Shares

What Happened

• Michael Lawrence Weinstein, a reported 10% owner of ARK Restaurants Corp (ARKR), sold 176,701 shares on September 24, 2026. The shares were sold at $4.57 each for a total proceeds of approximately $807,524. This transaction was a sale (code S), not a purchase or option exercise.

Key Details

• Transaction date and price: 2026-09-24 — 176,701 shares sold at $4.57 per share (total ≈ $807,524).
• Shares owned after the transaction: Based on the filing’s footnotes, Weinstein directly held 392,538 shares before the sale; after selling 176,701 shares that direct holding would be 215,837. Additional holdings called out in the footnotes include 35,000 shares held in an IRA, 1,650 shares held by The Weinstein Foundation (shared power), and a reported interest in an LLC equivalent to 53,844 shares per the filing’s second footnote — yielding an approximate total beneficial ownership of ~306,331 shares after the sale (this excludes 6,250 exercisable option shares noted in the filing).
• Footnotes of note:
  • F1 details multiple holdings: foundation (1,650), direct (392,538), IRA (35,000), indirect LLC holdings (figures described in filing), and notes 6,250 exercisable option shares not included in those totals.
  • F2 states the Reporting Person has a 50% interest (53,844 shares) with respect to securities held in the limited liability company referenced.
• Filing date: Form 4 was filed with the SEC on 2026-09-28 reporting the 2026-09-24 transaction.
• No 10b5-1 plan or late-filing notation is indicated in the provided filing details.

Context

• This was an outright sale by a major (10%) shareholder rather than an exercise of options or a gift. Sales by large holders can be for many reasons (liquidity, portfolio rebalancing, estate planning, etc.) and do not, on their own, prove management sentiment about the company’s prospects. The filing also shows other direct and indirect holdings that keep Weinstein a meaningful shareholder after this sale.