Divisadero Street reports 1.7% Build-a-Bear (BBW) stake held for advisory clients

Rhea-AI Filing Summary

Divisadero Street Capital Management, LP and related parties report beneficial ownership of Build-a-Bear Workshop, Inc. common stock. Divisadero Street Capital Management, LP, Divisadero Street Capital, LLC, and William Zolezzi each report 210,019 shares, representing 1.7% of the class, with shared voting and dispositive power and no sole power. Divisadero Street Partners, L.P. and its general partner each report 133,682 shares, or 1.1% of the class, also with shared voting and dispositive power only.

All securities are directly owned by advisory clients of Divisadero Street Capital Management, LP, and no client is deemed to beneficially own more than 5% of the common stock. The reporting persons disclaim beneficial ownership beyond their pecuniary interest.

Key Figures

Shares beneficially owned: 210,019 shares Percent of class: 1.7% Shares held by Divisadero Street Partners, L.P.: 133,682 shares +2 more

5 metrics

Shares beneficially owned 210,019 shares Reported by Divisadero Street Capital Management, LP, William Zolezzi, and Divisadero Street Capital, LLC

Percent of class 1.7% Ownership percentage of Build-a-Bear common stock associated with 210,019 shares

Shares held by Divisadero Street Partners, L.P. 133,682 shares Beneficially owned with shared voting and dispositive power

Percent of class (Partners, L.P.) 1.1% Ownership percentage for Divisadero Street Partners, L.P. and its general partner

Sole voting power 0 shares Each reporting person reports no sole power to vote Build-a-Bear shares

Key Terms

beneficially owned, shared voting power, shared dispositive power, investment adviser, +1 more

5 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: Divisadero Street Capital Management, LP - 210,019"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"(ii) Shared power to vote or to direct the vote: Divisadero Street Capital Management, LP - 210,019"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"(iv) Shared power to dispose or to direct the disposition of: Divisadero Street Capital Management, LP - 210,019"

investment adviser financial

"All of the securities reported in this are directly owned by advisory clients of Divisadero Street Capital Management, LP."

An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.

parent holding company or control person financial

"Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person."

FAQ

What percentage of Build-a-Bear Workshop (BBW) shares does Divisadero Street Capital Management report owning?

Divisadero Street Capital Management, LP reports beneficial ownership of 210,019 shares of Build-a-Bear Workshop common stock, representing 1.7% of the outstanding class, with shared voting and dispositive power and no sole authority over the shares.

How many Build-a-Bear Workshop (BBW) shares are reported by Divisadero Street Partners, L.P.?

Divisadero Street Partners, L.P. reports beneficial ownership of 133,682 shares of Build-a-Bear Workshop common stock, equal to 1.1% of the class, with only shared voting and shared dispositive power over those shares, and no sole authority.

Who are the reporting persons in this Schedule 13G/A for Build-a-Bear Workshop (BBW)?

The reporting persons are Divisadero Street Capital Management, LP, William Zolezzi, Divisadero Street Partners, L.P., Divisadero Street Partners GP, LLC, and Divisadero Street Capital, LLC, each providing their ownership, voting, and dispositive power details over BBW common stock.

Do any Divisadero advisory clients own more than 5% of Build-a-Bear Workshop (BBW)?

No. All reported Build-a-Bear Workshop securities are directly owned by advisory clients of Divisadero Street Capital Management, LP, and the filing states that none of these clients may be deemed to beneficially own more than 5% of the common stock.

Does Divisadero Street Capital Management have sole voting or dispositive power over Build-a-Bear Workshop (BBW) shares?

Divisadero Street Capital Management, LP reports 0 shares with sole voting or sole dispositive power. It reports 210,019 shares with shared voting and shared dispositive power, reflecting its role as an investment adviser to its clients.

What ownership disclaimer do the reporting persons make regarding Build-a-Bear Workshop (BBW) shares?

Each reporting person disclaims beneficial ownership of the reported securities beyond their pecuniary interest. The statement clarifies that the report is not an admission of beneficial ownership for purposes of Section 16 or any other purpose.

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Available on EDGAR 08/14/2026 - 04:32 PM Accepted by SEC EDGAR 08/14/2026 - 04:29 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Build-a-Bear Workshop, Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

120076104

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 120076104

1

Names of Reporting Persons

Divisadero Street Capital Management, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 210,019.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 210,019.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

210,019.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.7 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 120076104

1

Names of Reporting Persons

William Zolezzi

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 210,019.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 210,019.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

210,019.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.7 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

CUSIP Number(s): 120076104

1

Names of Reporting Persons

Divisadero Street Partners, L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 133,682.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 133,682.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

133,682.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.1 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP Number(s): 120076104

1

Names of Reporting Persons

Divisadero Street Partners GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 133,682.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 133,682.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

133,682.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.1 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP Number(s): 120076104

1

Names of Reporting Persons

Divisadero Street Capital, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 210,019.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 210,019.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

210,019.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.7 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Build-a-Bear Workshop, Inc
(b)	Address of issuer's principal executive offices: 415 South 18th Street, Suite 200, St. Louis, Missouri 63103
Item 2.
(a)	Name of person filing: Divisadero Street Capital Management, LP William Zolezzi Divisadero Street Partners, L.P. Divisadero Street Partners GP, LLC Divisadero Street Capital, LLC
(b)	Address or principal business office or, if none, residence: Divisadero Street Capital Management, LP 3480 Main Highway, Suite 204 Miami, FL 33133 William Zolezzi c/o Divisadero Street Capital Management, LP 3480 Main Highway, Suite 204 Miami, FL 33133 Divisadero Street Partners, L.P. 3480 Main Highway, Suite 204 Miami, FL 33133 Divisadero Street Partners GP, LLC 3480 Main Highway, Suite 204 Miami, FL 33133 Divisadero Street Capital, LLC 3480 Main Highway, Suite 204 Miami, FL 33133
(c)	Citizenship: Divisadero Street Capital Management, LP - Delaware William Zolezzi - United States Divisadero Street Partners, L.P. - Delaware Divisadero Street Partners GP, LLC - Delaware Divisadero Street Capital, LLC - Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 120076104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Divisadero Street Capital Management, LP - 210,019 William Zolezzi - 210,019 Divisadero Street Partners, L.P. - 133,682 Divisadero Street Partners GP, LLC - 133,682 Divisadero Street Capital, LLC - 210,019
(b)	Percent of class: Divisadero Street Capital Management, LP - 1.7% William Zolezzi - 1.7% Divisadero Street Partners, L.P. - 1.1% Divisadero Street Partners GP, LLC - 1.1% Divisadero Street Capital, LLC - 1.7%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Divisadero Street Capital Management, LP - 0 William Zolezzi - 0 Divisadero Street Partners, L.P. - 0 Divisadero Street Partners GP, LLC - 0 Divisadero Street Capital, LLC - 0
	(ii) Shared power to vote or to direct the vote: Divisadero Street Capital Management, LP - 210,019 William Zolezzi - 210,019 Divisadero Street Partners, L.P. - 133,682 Divisadero Street Partners GP, LLC -133,682 Divisadero Street Capital, LLC - 210,019
	(iii) Sole power to dispose or to direct the disposition of: Divisadero Street Capital Management, LP - 0 William Zolezzi - 0 Divisadero Street Partners, L.P. - 0 Divisadero Street Partners GP, LLC - 0 Divisadero Street Capital, LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: Divisadero Street Capital Management, LP - 210,019 William Zolezzi - 210,019 Divisadero Street Partners, L.P. - 133,682 Divisadero Street Partners GP, LLC - 133,682 Divisadero Street Capital, LLC - 210,019
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. All of the securities reported in this Schedule 13G are directly owned by advisory clients of Divisadero Street Capital Management, LP. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Divisadero Street Capital Management, LP

Signature:	By: Divisadero Street Capital, LLC, its general partner, By: /s/ William Zolezzi
Name/Title:	William Zolezzi, Manager
Date:	08/14/2026

William Zolezzi

Signature:	/s/ William Zolezzi
Name/Title:	William Zolezzi
Date:	08/14/2026

Divisadero Street Partners, L.P.

Signature:	By: Divisadero Street Partners GP, LLC, its general partner, By: /s/ William Zolezzi
Name/Title:	William Zolezzi, Manager
Date:	08/14/2026

Divisadero Street Partners GP, LLC

Signature:	/s/ William Zolezzi
Name/Title:	William Zolezzi, Manager
Date:	08/14/2026

Divisadero Street Capital, LLC

Signature:	/s/ William Zolezzi
Name/Title:	William Zolezzi
Date:	08/14/2026

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

Exhibit A - Joint Filing Agreement Exhibit B - Control Person Identification