[144] Build-A-Bear Workshop, Inc. SEC Filing

Rhea-AI Filing Summary

Build-A-Bear Workshop, Inc. (BBW) Form 144 shows a proposed sale of 10,193 common shares through Merrill Lynch with an aggregate market value of $615,963, scheduled approximately for 09/04/2025 on the NYSE. The filing lists total shares outstanding of 13,208,592. The securities to be sold were originally acquired as stock grants on 03/20/2013, 03/22/2013, 03/31/2019, and 04/30/2019 totaling 10,193 shares. The filing also discloses three sales during the past three months by Eric Fencl: 6,993 shares on 06/03/2025 for $339,161, 16,466 shares on 06/09/2025 for $797,071, and 9,923 shares on 09/04/2025 for $605,383. Relationship to issuer and certain contact fields are not specified in the content provided.

Positive

• Disclosure completed: The filer provided broker, share counts, dates, and gross proceeds for recent sales, enabling market transparency
• Securities were originally granted: Acquisition table shows these are stock grants (2013 and 2019), indicating vested awards rather than open-market purchases

Negative

• Multiple insider sales: The filer sold shares on 06/03/2025, 06/09/2025, and 09/04/2025 totaling reported sales and now proposes another sale, which may be viewed negatively by some investors
• Missing relationship detail: The filing excerpt does not specify the filer’s relationship to the issuer, limiting context for investors and compliance reviewers

Insights

Financial Analyst

TL;DR: Insider has disclosed multiple recent sales and a proposed sale; disclosure helps transparency but may signal personal liquidity needs.

The Form 144 reports a proposed 10,193-share sale valued at $615,963 and documents prior sales by the same individual totaling 33,382 shares across June and September transactions. For investors, the filing is a clear disclosure of insider dispositions rather than operational results. The securities originated from stock grants dated 2013 and 2019, indicating these are vested, previously awarded shares being monetized. No information on the filer’s relationship to the issuer or any trading plan date is provided in the text, limiting assessment of whether sales follow a prearranged plan.

Compliance / Corporate Governance Analyst

TL;DR: Filing appears procedurally complete for Rule 144 notice but omits issuer-relationship detail; multiple recent sales warrant standard disclosure review.

The submission lists broker details (Merrill Lynch) and requisite quantities, dates, and proceeds for recent sales and the proposed transaction, which satisfies core Form 144 reporting elements visible here. The signer represents no undisclosed material adverse information, per the form’s attestation, but the provided content does not indicate whether a Rule 10b5-1 plan exists or its adoption date. Absence of explicit relationship-to-issuer information in the excerpt reduces clarity on insider status for compliance screening.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Merrill Lynch 1630 South Lindbergh Blvd St Louis MO 63131	10193	615963.00	13208592	09/04/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	04/30/2019	Stock Grant	Issuer			3102	04/30/2019	Stock Grant
Common	03/31/2019	Stock Grant	issuer			2935	03/31/2019	Stock Grant
Common	03/22/2013	Stock grant	Issuer			2032	03/22/2013	Stock Grant
Common	03/20/2013	Stock Grant	Issuer			2124	03/20/2013	Stock Grant

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Eric Fencl 415 S 18th Street Suite 200 St Louis MO 63103	Common	06/03/2025	6993	339161.00
Eric Fencl 415 S 18th Street Suite 200 St Louis MO 63103	Common	06/09/2025	16466	797071.00
Eric Fencl 415 S 18th Street Suite 200 St Louis MO 63103	Common	09/04/2025	9923	605383.00

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the BBW Form 144 disclose about the proposed sale?

The filing discloses a proposed sale of 10,193 common shares through Merrill Lynch with an aggregate market value of $615,963, approx. date 09/04/2025 on the NYSE.

Who conducted recent insider sales for BBW and what were the amounts?

The Form 144 lists sales by Eric Fencl: 6,993 shares on 06/03/2025 for $339,161, 16,466 shares on 06/09/2025 for $797,071, and 9,923 shares on 09/04/2025 for $605,383.

When were the shares to be sold originally acquired?

The securities to be sold were acquired as stock grants on 03/20/2013, 03/22/2013, 03/31/2019, and 04/30/2019.

Does the filing state the filer’s relationship to Build-A-Bear Workshop (BBW)?

No. The excerpt provided does not specify the filer’s relationship to the issuer.

Which broker is handling the proposed sale?

The proposed sale is listed with Merrill Lynch, 1630 South Lindbergh Blvd, St Louis, MO 63131.