Brady issues 1,769,314 Class A shares in unregistered exchange with William H. Brady III
BRC•Brady issued 1,769,314 Class A shares to William H. Brady III on November 4 in exchange for the same number of Class B shares, with no cash paid. The Class A shares have a 24-month lockup, subject to exceptions, and Brady committed to pursue resale registration before it expires.
1. Share exchange
Brady issued 1,769,314 new Class A common shares to William H. Brady III on November 4, 2026, in exchange for his 1,769,314 Class B common shares. Neither party paid cash, and the issuance was exempt from registration under Section 4(a)(2) of the Securities Act of 1933.
2. Control and lockup
The exchange left Elizabeth P. Bruno with sole control through ownership of 100% of the remaining Class B common stock. The new Class A shares carry a 24-month lockup, subject to exceptions; Brady committed to pursue resale registration before the lockup expires.
