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Boost Run (BRUN) CEO Andrew Karos reports 48.08% stake via Class B shares

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13D

Rhea-AI Filing Summary

Boost Run Inc. CEO Andrew Karos reports significant ownership after the company’s SPAC business combination. He beneficially owns 29,533,018 shares of Class B Common Stock, treated as convertible into an equal number of Class A shares, representing 48.08% of the Class A Common Stock on an as-converted basis.

The Class B shares automatically convert into Class A shares upon certain events, including transfers, his departure as an executive or director, or if his Class B holdings fall below 40% of the amount held immediately after closing. Karos has sole voting and dispositive power over these shares and is party to lock-up and registration rights agreements related to the transaction that took Boost Run public.

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Insights

CEO holds a near‑controlling stake with special Class B conversion terms.

Andrew Karos beneficially owns 29,533,018 Class B shares, representing 48.08% of Boost Run’s Class A on an as-converted basis. This gives him sole voting and dispositive power over a large block, concentrating influence in management.

The dual-class structure is important. Class B shares automatically convert to Class A upon transfers, loss of executive or director status, or if his Class B stake drops below 40% of the post-closing amount. These triggers link his control stake to continued leadership and ownership levels.

The filing also notes a SPAC-driven Business Combination Agreement, lock-up arrangements, and a Registration Rights Agreement dated May 8, 2026. Future company filings may detail how these governance and liquidity features interact with Boost Run’s capital structure over time.

Beneficially owned shares 29,533,018 shares Class B Common Stock beneficially owned by Andrew Karos
Ownership percentage 48.08% Percent of Class A Common Stock on an as-converted basis
Sole voting power 29,533,018 shares Shares over which Karos has sole voting authority
Sole dispositive power 29,533,018 shares Shares over which Karos has sole dispositive authority
Business Combination closing date May 8, 2026 Effective date the SPAC business combination closed
Lock-Up Agreement date September 15, 2025 Date Lock-Up Agreements were entered into
Class B Common Stock financial
"consists of 29,533,018 shares of Class B Common Stock. Each share of Class B Common Stock is convertible"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
Business Combination Agreement financial
"pursuant to that certain Business Combination Agreement dated as of September 15, 2025, as amended"
A business combination agreement is a detailed contract that lays out the terms for two companies to join together—covering price, how ownership will be split, the steps needed to close the deal, and what each side promises to do or avoid before closing. For investors it matters because the agreement determines potential changes in value, control, timing, and risk exposure—think of it like the playbook for a merger that shows who wins, who pays, and what could still derail the plan.
SPAC Merger financial
"On the Closing Date, SPAC Merger Sub merged with and into SPAC, with SPAC surviving as a wholly-owned subsidiary of the Company (the "SPAC Merger")."
A SPAC merger is when a private company combines with a SPAC, a publicly traded shell company created to find and buy a business, so the private company becomes publicly listed without a traditional initial public offering. Investors should care because this shortcut can speed up market access but often brings greater uncertainty about valuation, potential share dilution, and reliance on investor votes and future performance, which can increase stock volatility.
Lock-Up Agreements financial
"the Company entered into Lock-Up Agreements (the "Lock-Up Agreements") with certain stockholders of Legacy Boost Run"
A lock-up agreement is a contract that prevents company insiders—founders, employees, and early investors—from selling their shares for a set period after a public stock offering. It matters to investors because it keeps a large block of shares off the market temporarily; when the lock-up ends, those holders can sell and this increased supply can cause the stock price to fall, similar to a timed release that suddenly opens a valve.
Registration Rights Agreement financial
"the Company entered into an Amended and Restated Registration Rights Agreement (the "Registration Rights Agreement") pursuant to which it agreed to register for resale"
A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.
beneficially owned financial
"The shares of common stock reported herein as being beneficially owned by the Reporting Person were issued following the completion"
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.





09940T100

(CUSIP Number)
Andrew Karos
c/o Boost Run Inc., 5 Revere Drive, Suite 200
Northbrook, IL, 60062
(847) 489-3367

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
05/08/2026

(Date of Event Which Requires Filing of This Statement)


If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




schemaVersion:


SCHEDULE 13D




Comment for Type of Reporting Person:
In reference to Items 11 and 13, consists of 29,533,018 shares of Class B Common Stock. Each share of Class B Common Stock is convertible into one share of Class A Common Stock. Shares of Class B common stock held by the Reporting Person will automatically convert into an equal number of shares of Class A common stock upon (i) any sale, assignment, transfer or other disposition of such shares, other than certain permitted transfers, (ii) his cessation as an executive officer or director of the Company, or (iii) the date on which he ceases to beneficially own at least 40% of the shares of Class B common stock he held immediately following the closing, in each case subject to specified exceptions. Soley for purposes of this line item, the aggregate number of shares of Class B Common Stock beneficially owned by the Reporting Person is treated as converted into shares of Class A Common Stock.


SCHEDULE 13D


Andrew Karos
Signature:/s/ Andrew Karos
Name/Title:Andrew Karos
Date:05/15/2026