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Birks Group (NYSE: BGI) director lists 40,909 cash-settled DSUs

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

Birks Group Inc. director Paola Farnesi has reported her initial beneficial holding through deferred share units. The Form 3 shows Class A voting shares underlying 40,909 cash-settled Deferred Share Units (DSUs), held directly. The DSUs have a stated exercise price of $0.0000 and are settled in cash rather than stock.

According to the disclosure, these DSUs may be exercised after departure from the Board, with cash value based on the company’s stock price on the departure date multiplied by the number of DSUs. This filing records an existing compensation-related position and does not reflect any open-market buy or sell transaction.

Positive

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Insider FARNESI PAOLA
Role Director
Type Security Shares Price Value
holding Class A voting shares -- -- --
Holdings After Transaction: Class A voting shares — 40,909 shares (Direct)
Footnotes (1)
  1. After departure from Board December 31 of the year after departure from Board DSUs allow the reporting person to exercise the DSUs and receive a cash value equivalent to the value of the stock price on the departure date times the number of DSUs
Deferred Share Units 40,909 DSUs Underlying Class A voting shares reported on Form 3
Exercise price $0.0000 per DSU Stated exercise price for the cash-settled DSUs
Post-reporting holdings 40,909 underlying shares Total Class A voting share equivalent following the reported holding
Cash-Settled Deferred Share Units (DSUs) financial
"underlying_security_title: "Cash-Settled Deferred Share Units (DSUs)""
Class A voting shares financial
"security_title: "Class A voting shares""
beneficial holding financial
"director Paola Farnesi has reported her initial beneficial holding through deferred share units"
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SEC Form 3
FORM 3UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:3235-0104
Estimated average burden
hours per response:0.5
1. Name and Address of Reporting Person*
FARNESI PAOLA
(Last)(First)(Middle)
7630 RUE DU MANS
APT 1303
(Street)
ST-LEONARDH1S3H1
(City)(State)(Zip)
QUEBEC, CANADA
(Country)		2. Date of Event Requiring Statement (Month/Day/Year)
03/31/2026		3. Issuer Name and Ticker or Trading Symbol
BIRKS GROUP INC. [ BGI ]
3a. Foreign Trading Symbol
5. If Amendment, Date of Original Filed (Month/Day/Year)
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year)3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date ExercisableExpiration DateTitleAmount or Number of Shares
Class A voting shares (1) (2)Cash-Settled Deferred Share Units (DSUs)(3)40,909$0D
Explanation of Responses:
1. After departure from Board
2. December 31 of the year after departure from Board
3. DSUs allow the reporting person to exercise the DSUs and receive a cash value equivalent to the value of the stock price on the departure date times the number of DSUs
Remarks:
NOTE:This is an initial Form 3 filing as an owner of securities of a Foreign Private Issuer. Please note that this is a new Form 3 filing to replace the one filed on March 31st, which has been suspended. This new filing corrects the owner's address to indicate that her address is not in the United States.
Helene Delaney by Power of Attorney04/02/2026
** Signature of Reporting PersonDate
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 5 (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.
* Form 3: SEC 1473 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Birks Group (BGI) director Paola Farnesi report on this Form 3?

Paola Farnesi reported an initial holding of Class A voting share interests through 40,909 cash-settled Deferred Share Units (DSUs). This records her existing equity-linked compensation position and does not represent a new open-market purchase or sale of Birks Group stock.

How many Deferred Share Units does Paola Farnesi hold in Birks Group (BGI)?

The filing shows 40,909 cash-settled Deferred Share Units (DSUs) linked to Birks Group Class A voting shares. These units represent a cash-settled, stock-based compensation award rather than actual shares currently owned or traded in the market.

How are Paola Farnesi’s Birks Group (BGI) DSUs settled and valued?

The DSUs are cash-settled. Upon exercise after leaving the Board, Farnesi receives cash equal to the Birks Group stock price on her departure date multiplied by the 40,909 DSUs, aligning value with the company’s share price performance at that time.

When can the Birks Group (BGI) DSUs reported by Paola Farnesi be exercised?

The footnotes state the DSUs are exercisable after departure from the Board, with settlement tied to the stock price on that departure date. Another note references December 31 of the year after departure, indicating the timing framework for cash settlement.

Do the Birks Group (BGI) DSUs reported by Paola Farnesi involve an immediate stock transaction?

No. The reported 40,909 DSUs are a deferred, cash-settled compensation instrument. They do not involve an immediate purchase or sale of Birks Group Class A voting shares and therefore do not reflect an open-market trading decision.