[Form 4] BUILD-A-BEAR WORKSHOP INC Insider Trading Activity

Rhea-AI Filing Summary

Lesli Rotenberg, a director of Build-A-Bear Workshop, Inc. (BBW), reported sales under a Rule 10b5-1 trading plan entered on 07/07/2025. On 10/06/2025 she sold a total of 1,000 shares in two batches: 941 shares at a weighted average price of $59.9143 (individual trades ranged $59.55–$60.52) and 59 shares at a weighted average price of $61.0407 (trades ranged $61.00–$61.24). After these dispositions she directly owns 8,969 common shares plus 1,856 restricted shares, totaling 10,825 shares.

Positive

• Sale executed under a documented Rule 10b5-1 plan, providing a pre-established compliance framework
• Weighted-average prices disclosed with provided ranges for transparency
• Reporting shows continued ownership of 8,969 common shares and 1,856 restricted shares after the sales

Negative

• Director disposed of 1,000 shares on 10/06/2025, reducing beneficial holdings
• Weighted-average sale prices are near the $60 level, which may be below later market levels (if price rises)

Insights

Corporate Governance Analyst

TL;DR: A director executed a planned sale of 1,000 shares under a 10b5-1 plan; holdings remain modestly positive.

The sales were executed pursuant to a documented Rule 10b5-1 plan established on 07/07/2025, which provides predefined timing and price mechanics for insider dispositions. The filings disclose weighted average prices of $59.9143 and $61.0407 for the two reported batches, and the reporting attorney-in-fact signed on 10/07/2025.

The director continues to hold 8,969 common shares and 1,856 restricted shares after the sales. Monitor scheduled plan windows and any further Form 4s for pattern changes over the next 3–12 months that could indicate additional planned or opportunistic sales.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rotenberg Lesli

(Last) (First) (Middle)

C/O BUILD-A-BEAR WORKSHOP, INC.

415 SOUTH 18TH STREET

(Street)

ST. LOUIS MO 63103

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BUILD-A-BEAR WORKSHOP INC [ BBW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/06/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/06/2025		S		941(1)	D	$59.9143(2)	10,884	D
Common Stock	10/06/2025		S		59(1)	D	$61.0407(3)	10,825(4)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These shares were sold pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person on July 7, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $59.55 to $60.52 inclusive. The Reporting Person undertakes to provide to Build-A-Bear Workshop, Inc., any security holder of Build-A-Bear Workshop, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $61.00 to $61.24 inclusive. The Reporting Person undertakes to provide to Build-A-Bear Workshop, Inc., any security holder of Build-A-Bear Workshop, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

4. After giving effect to the transaction reported in this Form 4, Ms. Rotenberg directly beneficially owns 8,969 shares of common stock and 1,856 shares of restricted stock of Build-A-Bear Workshop, Inc.

	/s/ Yevgeny Fundler, as Attorney-in-Fact for Lesli Rotenberg	10/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Lesli Rotenberg (BBW) report on Form 4?

Ms. Rotenberg reported the sale of 1,000 shares on 10/06/2025 executed under a 10b5-1 trading plan.

At what prices were the BBW shares sold?

The filing shows weighted average prices of $59.9143 (range $59.55–$60.52) and $61.0407 (range $61.00–$61.24).

How many BBW shares does the director own after the sale?

After the transactions the reporting person directly beneficially owns 8,969 common shares and 1,856 restricted shares, totaling 10,825 shares.

Was the sale part of a pre-established trading plan?

Yes. The sales were made under a Rule 10b5-1 trading plan entered into on 07/07/2025.

Who signed the Form 4 for Lesli Rotenberg?

The Form 4 was signed by Yevgeny Fundler as Attorney-in-Fact for Lesli Rotenberg on 10/07/2025.