Thomas E. Davin - Dec 11, 2023 Form 4 Insider Report for BRC Inc. (BRCC)

Role: Co-Chief Executive Officer, Director
Signature: /s/ Andrew McCormick, as attorney-in-fact
Stock symbol: BRCC
Transactions as of: Dec 11, 2023
Transactions value $: -$1,540,000
Form type: 4
Date filed: 12/12/2023, 04:30 PM
Previous filing: May 4, 2023
Next filing: May 3, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BRCC	Class B Common Stock	Other	$0	-300K	-4.06%	$0.00	7.09M	Dec 11, 2023	Direct	F1, F2
transaction	BRCC	Class B Common Stock	Other	$0	-100K	-7.66%	$0.00	1.21M	Dec 11, 2023	Held through an LLC	F1, F2
transaction	BRCC	Class A Common Stock	Conversion of derivative security	$0	+300K	+1807.56%	$0.00	317K	Dec 11, 2023	Direct	F2
transaction	BRCC	Class A Common Stock	Conversion of derivative security	$0	+100K		$0.00	100K	Dec 11, 2023	Held through an LLC	F2
transaction	BRCC	Class A Common Stock	Sale	-$1.16M	-300K	-94.76%	$3.85	16.6K	Dec 11, 2023	Direct
transaction	BRCC	Class A Common Stock	Sale	-$385K	-100K	-100%	$3.85	0	Dec 11, 2023	Held through an LLC

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BRCC	Common Units	Conversion of derivative security	$0	-300K	-4.06%	$0.00	7.09M	Dec 11, 2023	Class A Common Stock	300K		Direct	F2, F3
transaction	BRCC	Common Units	Conversion of derivative security	$0	-100K	-7.66%	$0.00	1.21M	Dec 11, 2023	Class A Common Stock	100K		Held through an LLC	F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported securities provide no economic rights in BRC Inc. (the "Issuer") to the holder thereof but each share of Class B Common Stock ("Class B Share") entitles the holder to one vote as a common stockholder of the Issuer.
F2	Represents the exchange of an aggregate of 400,000 common units of Authentic Brands LLC for an equivalent number of shares of Class A Common Stock of the Issuer and the forfeiture of an equivalent number of shares of Class B Common Stock of the Issuer.
F3	The reported securities are common units of Authentic Brands LLC (the "Common Units"). These Common Units may be exchanged by the holder (upon forfeiture of an equivalent number of Class B Shares) for an equivalent number of shares of Class A Common Stock of the Issuer (or the cash value thereof, at the election of the Issuer).