Citi Trends: Fund 1 vehicles sell 750,000 shares

The reported indirect holdings remaining after the transaction were 1,073,486 common shares.

Available on EDGAR 11/09/2026 - 08:33 PM EST Accepted by SEC EDGAR 11/09/2026 - 08:32 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Citi Trends Inc (CTRN) reported that private investment vehicles holding securities for Fund 1 Investments, LLC, a ten-percent owner, sold 750,000 common shares on November 5, 2026, at $45.76 per share. The reported position following the sale was 1,073,486 shares. No Rule 10b5-1 plan is reported. The footnote identifies Pleasant Lake Partners LLC as investment adviser and Jonathan Lennon as Fund 1 Investments, LLC’s managing member; Fund 1 Investments, LLC disclaims beneficial ownership except to the extent of its pecuniary interest.

Insider Trade Summary

Net Seller: 750,000 shares

Net Sell 1 txn

Insider Fund 1 Investments, LLC

Role 10% Owner

Sold 750,000 shs ($34.32M)

Share of Position Sold 41.1%

Type	Security	Shares	Price	Value
Sale	Common Stock F1	750,000	$45.76	$34.32M

Holdings After Transaction: Common Stock — 1,073,486 shares (Indirect, See Footnote)

Holdings Before and After: Common Stock, 1,823,486 to 1,073,486 shares (Indirect, See Footnote)

Other Insiders: 1 other insider reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (1)

1. F1. Securities reported herein for Fund 1 Investments, LLC are held by private investment vehicles for which Pleasant Lake Partners LLC serves as investment adviser. Fund 1 Investments, LLC serves as managing member of Pleasant Lake Partners LLC. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.

Key Figures

Common shares sold: 750,000 shares Sale price per share: $45.76 per share Shares following transaction: 1,073,486 shares

3 metrics

Common shares sold 750,000 shares Sale on November 5, 2026

Sale price per share $45.76 per share Sale on November 5, 2026

Shares following transaction 1,073,486 shares Reported following the November 5, 2026 sale

Key Terms

beneficial ownership, pecuniary interest, managing member, Rule 10b5-1 plan

4 terms

beneficial ownership financial

"disclaims beneficial ownership of the securities reported herein"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of its pecuniary interest therein"

managing member financial

"serves as managing member of Pleasant Lake Partners LLC"

A managing member is an owner of a limited liability company (LLC) who also has the authority and responsibility to run the company’s day-to-day operations and make business decisions on behalf of the LLC. For investors, this matters because the managing member holds the key decision-making power and accountability—like a team captain who both owns part of the team and calls the plays—which affects strategy, risk, and how quickly the company can act.

Rule 10b5-1 plan regulatory

"No Rule 10b5-1 plan is reported"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many CTRN shares were sold, and at what price?

Private investment vehicles holding securities for Fund 1 Investments, LLC sold 750,000 common shares on November 5, 2026, at $45.76 per share. The reported position following the sale was 1,073,486 shares. No Rule 10b5-1 plan is reported.

Who held the shares reported by Fund 1 Investments, LLC?

The shares were held by private investment vehicles for which Pleasant Lake Partners LLC serves as investment adviser. Fund 1 Investments, LLC serves as Pleasant Lake Partners LLC’s managing member, and Jonathan Lennon serves as Fund 1 Investments, LLC’s managing member. Fund 1 Investments, LLC disclaims beneficial ownership except to the extent of its pecuniary interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

Fund 1 Investments, LLC

(Last) (First) (Middle)

100 CARR 115

UNIT 1900

(Street)

RINCON PUERTO RICO 00677

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Citi Trends Inc [ CTRN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Common Stock	11/05/2026		S		750,000	D	$45.76	1,073,486	I	See Footnote(1)

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

Explanation of Responses:

1. Securities reported herein for Fund 1 Investments, LLC are held by private investment vehicles for which Pleasant Lake Partners LLC serves as investment adviser. Fund 1 Investments, LLC serves as managing member of Pleasant Lake Partners LLC. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. The Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein.

	/s/ Fund 1 Investments, LLC By: Benjamin C. Cable, Chief Compliance Officer	11/09/2026
	** 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.
* Form 4: SEC 1474 (03-26)