Overbrook235 LLC discloses large DICK'S (NYSE: DKS) trust holdings
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
Overbrook235 LLC, a ten percent owner of DICK'S SPORTING GOODS, INC., filed an initial statement of beneficial ownership. It reports indirect holdings of common equity through family trusts. A footnote states that this amount includes 11,965,997 shares of Class B common stock, each carrying 10 votes and convertible into one common share. The reporting person, serving as trustee of certain family trusts, expressly disclaims beneficial ownership of those securities.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Overbrook235 LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Common Stock, par value $0.01 per share — 12,056,390 shares (Indirect, By Trust)
Footnotes (1)
- Amount includes 11,965,997 shares of Class B common stock (the "Class B Common Stock"), which is not registered under the Securities Exchange Act of 1934, as amended. Holders of Class B Common Stock have identical rights to holders of common stock, except that holders of Class B Common Stock are entitled to 10 votes for each share held of record. Each share of Class B Common Stock is convertible at any time, at the option of the holder, into one share of common stock. The reporting person serves as trustee of certain family trusts holding shares of the Issuer. The reporting person disclaims beneficial ownership of those securities, and this report shall not be deemed as an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
FAQ
What does Overbrook235 LLC report in its Form 3 for DKS?
Overbrook235 LLC reports an initial beneficial ownership position in DICK'S Sporting Goods through indirect holdings in family trusts. The filing records common equity exposure, including a substantial block of Class B common stock with enhanced voting rights and conversion features into common stock.
What special rights attach to DKS Class B common stock in this filing?
The Class B common stock referenced carries identical economic rights to common stock but provides 10 votes per share. Each Class B share is convertible at any time, at the holder’s option, into one share of common stock, giving flexibility between voting power and liquidity.
Is the DKS Class B common stock mentioned in the Form 3 registered under the Exchange Act?
The footnote states that the Class B common stock is not registered under the Securities Exchange Act of 1934. Despite this, the shares have the same economic rights as common stock, but with higher voting power and an option to convert into registered common shares.