Form 144: BJRI insider sale planned; prior 1,719-share sale on 08/15/2025

Rhea-AI Filing Summary

BJ's Restaurants, Inc. (BJRI) insider sale notice under Rule 144. The filing notifies a proposed sale of 1,821 common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $62,023.26, to be sold approximately on 09/08/2025 on NASDAQ. The filer reports acquiring these shares as restricted stock on 01/15/2022 (280 shares), 01/15/2023 (588 shares) and 01/15/2024 (953 shares). It also discloses a prior sale by the same person of 1,719 shares on 08/15/2025 for gross proceeds of $60,155.71. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information and carries the statutory warning about intentional misstatements.

Positive

• Full disclosure of acquisition history showing dates and amounts for restricted stock grants
• Broker and execution details provided (Morgan Stanley Smith Barney LLC; NASDAQ execution)

Negative

• Insider sale disclosed (proposed sale of 1,821 shares and a recent sale of 1,719 shares) which may indicate insider liquidity
• No Rule 10b5-1 plan adoption date provided in the remarks, despite mention of such plans

Insights

Securities Analyst

TL;DR: Insider filing reports modest planned sale and recent similar sale, standard Rule 144 disclosure.

The filing documents a proposed Rule 144 sale of 1,821 common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $62,023.26 and a planned sale date of 09/08/2025 on NASDAQ. The same individual sold 1,719 shares on 08/15/2025 for $60,155.71. Acquisitions are reported as restricted stock grants on 01/15/2022, 01/15/2023 and 01/15/2024 totaling the shares offered. This is a routine insider liquidity notice; the filing contains no operational results, forward guidance, or new agreements that would materially change company fundamentals.

Corporate Governance Expert

TL;DR: Form 144 shows expected insider sale and includes required attestations; disclosure is procedural.

The submission provides the required details for a proposed sale under Rule 144: broker name, number of shares, aggregate market value, acquisition dates and types

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	1821	62023.26	22124179	09/08/2025	NASDAQ

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	01/15/2024	Restricted Stock	Issuer			953	01/15/2024	Not Applicable
Common	01/15/2022	Restricted Stock	Issuer			280	01/15/2022	Not Applicable
Common	01/15/2023	Restricted Stock	Issuer			588	01/15/2023	Not Applicable

* 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
ALEXANDER PUCHNER 7755 Center Avenue, Suite 300 Huntington Beach CA 92647	Common	08/15/2025	1719	60155.71

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 Form 144 for BJRI disclose about the planned sale?

The filing discloses a proposed sale of 1,821 common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of $62,023.26, approximately on 09/08/2025 on NASDAQ.

How were the shares acquired that are being sold under Rule 144?

The shares were acquired as restricted stock from the issuer on 01/15/2022 (280 shares), 01/15/2023 (588 shares), and 01/15/2024 (953 shares).

Did the filer sell any shares recently before this proposed sale?

Yes. The filing reports a sale by ALEXANDER PUCHNER of 1,719 common shares on 08/15/2025 for gross proceeds of $60,155.71.

Which broker is handling the proposed sale and where will it trade?

The broker listed is Morgan Stanley Smith Barney LLC, and the securities are to be sold on NASDAQ.

Does the filing state any undisclosed material information about BJ's Restaurants?

By signing the notice, the person represents they do not know any material adverse information