HOT GFG LLC exits FAT Brands (FAT) common stake, keeps preferred

Rhea-AI Filing Summary

HOT GFG LLC, a 10% owner of FAT Brands, Inc., reported selling 1,794,766 shares of Class A common stock on January 30, 2026. The sale was executed at a weighted average price of $0.2707 per share, through multiple trades between $0.2577 and $0.3001 per share.

After this transaction, the reporting persons no longer held any Class A common stock but continued to directly own 1,544,623 shares of Series B Cumulative Preferred Stock.

Positive

• None.

Negative

• 10% owner fully exits common stock: HOT GFG LLC, a 10% owner, sold 1,794,766 Class A common shares at a weighted average price of $0.2707, leaving a zero common share balance and removing a major holder from the common equity base.

Insights

Insider transactions analyst

Large 10% holder sold 1.79M FAT Brands common shares, eliminating its reported common position.

The filing shows HOT GFG LLC, identified as a 10% owner, sold 1,794,766 FAT Brands Class A common shares on January 30, 2026. The weighted average sale price was $0.2707 per share, across trades between $0.2577 and $0.3001.

Following the sale, the reporting persons held 0 Class A common shares, indicating a full exit from this class of equity. They still directly owned 1,544,623 shares of Series B Cumulative Preferred Stock, so their economic exposure shifted entirely to the preferred security.

The scale of the sale by a 10% owner is notable because it removes a significant common shareholder from the registry. Future company disclosures may clarify how this ownership change interacts with overall capital structure and any rights associated with the remaining Series B preferred stake.

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^*

HOT GFG LLC

(Last) (First) (Middle)

210 SHIELDS COURT

(Street)

MARKHAM A6 L3R 8V2

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Fat Brands, Inc [ FAT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/30/2026

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

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

	Form filed by One Reporting Person
X	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
Class A Common Stock	01/30/2026		S		1,794,766	D	$0.2707(1)	0	D
Series B Cumulative Preferred Stock								1,544,623	D

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

1. Name and Address of Reporting Person^*

HOT GFG LLC

(Last) (First) (Middle)

210 SHIELDS COURT

(Street)

MARKHAM A6 L3R 8V2

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Serruya Rachel

(Last) (First) (Middle)

1179 KATELLA STREET

(Street)

LAGUNA BEACH CA 92651

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at pieces ranging from $0.2577 to $0.3001, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the above range.

	HOT GFG LLC, By: Rachel Serruya, Sole Director and President	02/03/2026
	Rachel Serruya	02/03/2026
	** 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.

FAQ

What insider transaction did HOT GFG LLC report for FAT (FAT Brands)?

HOT GFG LLC, a 10% owner of FAT Brands, reported selling 1,794,766 Class A common shares on January 30, 2026. The shares were sold at a weighted average price of $0.2707 across multiple trades within a disclosed price range.

At what price were the FAT Brands shares sold in this Form 4 filing?

The reported weighted average sale price was $0.2707 per FAT Brands Class A share. The filing notes multiple trades executed at prices ranging from $0.2577 to $0.3001, with detailed trade breakdowns available upon request from the reporting persons.

How many FAT Brands shares does the reporting holder own after this transaction?

After the sale, the reporting persons held zero Class A common shares of FAT Brands. They continued to directly own 1,544,623 shares of Series B Cumulative Preferred Stock, maintaining exposure through the preferred security rather than the common stock.

What does the FAT Brands Form 4 say about the seller’s ownership status?

The filing shows the reporting persons as 10% owners of FAT Brands before the transaction. Following the sale of 1,794,766 Class A common shares, they no longer held any common shares but remained holders of Series B Cumulative Preferred Stock.

How were the FAT Brands share sales structured in this insider transaction?

The sales were executed as multiple market transactions on January 30, 2026, at prices between $0.2577 and $0.3001. A weighted average price of $0.2707 was reported, and the reporting persons offered to provide full trade-level detail upon request.