Voss Capital, LP 4

What Happened
Voss Capital, LP (part of a reporting group that includes Voss Value Master Fund, Voss Value‑Oriented Special Situations Fund, Voss Advisors GP, LLC and Travis W. Cocke) acquired a total of 200,005 shares of Xponential Fitness, Inc. (XPOF) in open‑market purchases on May 19–20, 2026. Purchases were executed at prices ranging from $4.64 to $5.50 per share for a combined cash outlay of approximately $963,886. These were outright purchases (code P), i.e., buys rather than sales.

Key Details

• Transaction dates: May 19 and May 20, 2026. Prices ranged roughly $4.64–$5.50 per share.
• Total shares acquired: 200,005. Total cash spent: ≈ $963,886.
• Shares owned after transaction: The filing excerpt does not state an exact post‑transaction share count; footnotes indicate the reporting group beneficially owns over 10% of XPOF.
• Filing timeliness: Form 4 was filed May 21, 2026 (covers trades on May 19–20) — appears to be filed within the usual 2‑business‑day deadline (timely).
• Footnotes: The report is a joint filing by multiple Voss entities and Travis W. Cocke. Each entity disclaims beneficial ownership except to the extent of its pecuniary interest; funds are managed/controlled by Voss GP/Voss Capital and Mr. Cocke, per the footnotes.

Context

• This is institutional/investment‑manager buying activity by a reported >10% owner group, not a routine insider executive sale. Purchases by large shareholders can be interpreted as increased exposure but do not, by themselves, reveal intent.
• No options exercises, gifts, or tax withholding were reported in these transactions — solely open‑market purchases (code P).