[Form 4] BELLRING BRANDS, INC. Insider Trading Activity

Rhea-AI Filing Summary

BellRing Brands, Inc. (BRBR) director Nwamu Chonda J received 871.138 common stock equivalents on 10/01/2025 under the company's Director Deferred Compensation Plan. The equivalents were credited as deferred retainer compensation and are valued at $36.35 per share equivalent. These stock equivalents are tracked without exercisable or expiration dates and will be converted one‑for‑one into the issuer's common stock when the reporting person retires from the board. After this reported transaction the reporting person beneficially owns 8,659.975 shares of BellRing common stock, held directly.

Positive

• 871.138 common stock equivalents credited, increasing director equity alignment
• Reporting person's beneficial ownership rose to 8,659.975 shares (direct), which may strengthen governance incentives

Negative

• Stock equivalents have no fixed exercisable or expiration dates, limiting current liquidity and immediate shareholder impact

Insights

Corporate Governance Analyst

Director deferred compensation converted to stock equivalents increases director alignment with shareholders.

The filing shows 871.138 common stock equivalents credited on 10/01/2025 as deferred retainer under the Director Deferred Compensation Plan. Because these are paid in stock upon retirement, the award ties long‑term director compensation to shareholder equity rather than immediate cash.

This is a routine, governance‑level compensation event; it raises insider ownership to 8,659.975 shares, increasing alignment but not an immediate market supply change because the equivalents are not currently exercisable.

Equity Compensation Specialist

Stock equivalents lack exercise/expiration dates and convert on retirement, limiting near‑term liquidity impact.

The filing explicitly states the common stock equivalents have no fixed exercisable or expiration dates and will be distributed one‑for‑one in common stock at board retirement. That structure prevents immediate sale pressure tied to this grant.

The reported per‑unit accounting value of $36.35 reflects the pricing used in the disclosure but does not indicate a cash transaction; it documents the valuation of credited equivalents.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Nwamu Chonda J

(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		871.138		(2)	(2)	Common Stock	871.138	$36.35	8,659.975	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 did BellRing (BRBR) report on Form 4 for 10/01/2025?

Director Nwamu Chonda J was credited with 871.138 common stock equivalents on 10/01/2025 under the Director Deferred Compensation Plan.

How many shares does the reporting person beneficially own after the transaction?

The reporting person beneficially owns 8,659.975 shares of BellRing common stock following the reported transaction.

Will the credited stock equivalents be immediately exercisable or tradable?

No. The filing states the common stock equivalents have no fixed exercisable or expiration dates and are distributed in common stock upon board retirement.

What is the disclosed valuation per share equivalent in the Form 4?

The Form 4 lists a unit price of $36.35 for the common stock equivalents in this reporting line.

Why were the stock equivalents credited to the director?

The equivalents represent the reporting person's director retainer, which is deferred into issuer common stock equivalents under the Issuer's Deferred Compensation Plan for Directors.