Singer Eric 4

What Happened

• Eric Singer, a 10% owner of Barnes & Noble Education (BNED) and a member of a Section 13(d) group, was granted 23,867 restricted shares on March 11, 2026. The Form 4 reports the shares as an award/grant (transaction code A) at a reported price of $0.00 (i.e., issued, not purchased or sold).
• This is an award of restricted stock (not an open-market purchase or sale), so it represents compensation/allocative issuance rather than a direct market signal to buy or sell.

Key Details

• Transaction date: 2026-03-11; Form 4 filed: 2026-03-13 (timely filing).
• Shares granted: 23,867; reported price: $0.00 (award/grant).
• Vesting: Shares vest on the earlier of one year from grant or the issuer’s next annual meeting of stockholders (per footnote F2).
• Shares owned after transaction: Not specified in this filing.
• Footnotes: F1 notes Mr. Singer is part of a Section 13(d) group (Toro 18 Holdings LLC, Immersion, William C. Martin, Emily Hoffman, Elias Nader) and disclaims beneficial ownership of securities owned directly by other group members; F3 explains Toro 18’s ownership and Mr. Singer’s role as President/CEO of Toro 18.
• Filing timeliness: Filed within the typical Form 4 window (not marked late).

Context

• Restricted share awards vest over time or upon a milestone; they are compensation-related and do not equal a market purchase (so they aren’t a direct bullish signal like an open-market buy).
• As a reported 10% owner and member of a Section 13(d) group, Singer’s holdings may reflect group/strategic positions; the filing clarifies limited beneficial interest in securities held directly by other group members.