BRBR Form 4: Director Credited with 848.214 Stock Equivalents

Rhea-AI Filing Summary

Jennifer Kuperman, a director of BellRing Brands, Inc. (BRBR), deferred her director retainer into the issuer's deferred compensation plan and was credited with 848.214 common stock equivalents on 10/01/2025 at a recorded value of $36.35 per share equivalent. After the transaction, she is reported to beneficially own 16,450.637 shares of the company's common stock in a direct ownership form. The filing notes these stock equivalents have no fixed exercisable or expiration dates and will be distributed one-for-one as common stock upon her retirement from the board. The Form 4 was signed by an attorney-in-fact on 10/03/2025.

Positive

• Director retainer converted into 848.214 common stock equivalents, aligning pay with equity
• Beneficial ownership increased to 16,450.637 shares (direct), strengthening insider alignment with shareholders

Negative

• None.

Insights

Corporate Governance Analyst

Director deferred retainer into stock equivalents credited as 848.214 shares on 10/01/2025.

This filing documents a routine compensation election under BellRing's director deferred compensation plan where the reporting person received 848.214 common stock equivalents valued at $36.35 each. Such elections convert cash retainer into equity exposure without an exercise schedule.

It matters because it increased the director's reported direct beneficial ownership to 16,450.637 shares and aligns compensation with shareholder outcomes; the equivalents are distributable as common stock upon board retirement.

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

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

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^*

JOHNSON JENNIFER KUPERMAN

(Last) (First) (Middle)

C/O BELLRING BRANDS, INC.

2503 S. HANLEY ROAD

(Street)

ST. LOUIS MO 63144

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BELLRING BRANDS, INC. [ BRBR ]

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)
10/01/2025

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

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
BellRing Brands, Inc. Common Stock Equivalents	(1)	10/01/2025		A		848.214		(2)	(2)	Common Stock	848.214	$36.35	16,450.637	D

Explanation of Responses:

1. Reporting Person's retainer earned as a Director of Issuer is deferred into Issuer Common Stock equivalents under the Issuer's Deferred Compensation Plan for Directors. Reporting Person is credited with stock equivalents on a quarterly basis as soon as administratively practical following the quarter in which such retainer is earned. The value of these stock equivalents is distributed (on a one-for-one basis) in the form of Issuer Common Stock upon Reporting Person's retirement from the Board of Directors.

2. The Common Stock equivalents have no fixed exercisable or expiration dates.

Remarks:

	/s/ Craig L. Rosenthal, Attorney in Fact	10/03/2025
	** 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 transaction did Jennifer Kuperman report on Form 4 for BRBR?

She reported deferral of director retainer into 848.214 BellRing common stock equivalents on 10/01/2025 at a recorded value of $36.35 per equivalent.

How many BellRing shares does Jennifer Kuperman beneficially own after the transaction?

The Form 4 reports 16,450.637 shares of common stock beneficially owned following the reported transaction.

Do the stock equivalents have exercise or expiration dates?

No. The filing states the common stock equivalents have no fixed exercisable or expiration dates.

When will the stock equivalents be converted to actual common stock?

The filing specifies distribution of equivalents on a one-for-one basis as common stock upon the reporting person's retirement from the Board.

Who signed the Form 4 and when was it dated?

The Form 4 was signed by Craig L. Rosenthal, Attorney in Fact and dated 10/03/2025.