Build-A-Bear (BBW) CFO Todorovic Disposes of 2,744 Shares Under Plan
Rhea-AI Filing Summary
Vojin Todorovic, Chief Financial Officer of Build-A-Bear Workshop, Inc. (BBW), reported sales of common stock on 09/22/2025 under a pre-established Rule 10b5-1 plan. He disposed of 929 shares at a weighted-average price of $72.5487 and 1,815 shares at a weighted-average price of $73.0576, with sale price ranges of $72.01–$72.99 and $73.00–$73.455, respectively. After these transactions he directly owns 54,287 shares of common stock and 10,960 shares of restricted stock, for a total of 65,247 shares beneficially owned. The Form 4 was signed by an attorney-in-fact on 09/24/2025.
Positive
- Sales executed under a Rule 10b5-1 plan, indicating pre-arranged trades rather than ad hoc insider transactions
- Detailed pricing disclosure with weighted-average prices and explicit price ranges for the multiple transactions
- Post-transaction beneficial ownership disclosed (54,287 common shares and 10,960 restricted shares)
Negative
- Insider sold 2,744 shares (929 + 1,815), which is a reduction in the reporting person's holdings
- No breakdown provided in the Form 4 for the number of shares sold at each individual price within the disclosed ranges (reporter offers to provide upon request)
Insights
TL;DR: Routine insider sales under a 10b5-1 plan; no new compensation or material change disclosed.
The filing documents pre-planned sales executed on 09/22/2025 by the CFO, totaling 2,744 shares sold in multiple transactions at weighted-average prices of $72.5487 and $73.0576. Because the trades were executed pursuant to a Rule 10b5-1 plan established on June 9, 2025, they represent orderly disposition rather than ad hoc sales tied to undisclosed company developments. The remaining direct ownership of 65,247 shares is disclosed, combining unrestricted and restricted holdings.
TL;DR: Disclosure meets Section 16 reporting expectations; plan-based sales reduce governance red flags.
The Form 4 clearly states the 10b5-1 plan adoption date and provides weighted-average pricing and price ranges for the multiple transactions, which improves transparency. The filing is signed by an attorney-in-fact and reports post-transaction beneficial ownership including restricted stock. No evidence in the filing suggests late reporting or failure to follow plan terms.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 929 | $72.5487 | $67K |
| Sale | Common Stock | 1,815 | $73.0576 | $133K |
Footnotes (1)
- These shares were sold pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person on June 9, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $72.01 to $72.99 per share. 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $73.00 to $73.455 per share. 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. After giving effect to the transactions reported in this Form 4, Mr. Todorovic directly owns 54,287 shares of common stock and 10,960 shares of restricted stock of Build-A-Bear Workshop, Inc.
