Falcon's Beyond insider shifts 11.15M Class B to Class A

Rhea-AI Filing Summary

Falcon's Beyond Global, Inc. (FBYD) reporting holder Infinite Acquisitions Partners LLC converted 11,150,368 Common Units of Falcon's Beyond Global, LLC into an equal number of Class A common shares on 11/14/2025, with the corresponding 11,150,368 Class B common shares canceled.

Following this transaction, Infinite Acquisitions beneficially owns 26,067,927 shares of Class A common stock and 13,000,000 shares of Class B common stock. The 13,000,000 Class B shares and matching Common Units are classified as earnout securities held in escrow, which may be released if specific milestones described in a registration statement are met.

The filing also notes 400,000 Class A earnout shares held in escrow for Infinite Acquisitions, with rights to both classes of earnout securities having become fixed and irrevocable as of 10/06/2023. Common Units and Class B common stock are described as not expiring.

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
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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^*

Infinite Acquisitions Partners LLC

(Last) (First) (Middle)

3420 PUMP RD #356

(Street)

HENRICO VA 23233

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Falcon's Beyond Global, Inc. [ FBYD ]

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)
11/14/2025

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	11/14/2025		J(1)		11,150,368	A	(1)(2)	26,067,927(3)	D(4)
Class B Common Stock	11/14/2025		J(1)		11,150,368	D	(1)(2)	13,000,000(2)	D(4)

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
Common Units of Falcon's Beyond Global, LLC	(1)	11/14/2025		C(1)(2)			11,150,368	(2)	(5)	Class A Common Stock	11,150,368	$0	13,000,000(2)	D(4)

1. Name and Address of Reporting Person^*

Infinite Acquisitions Partners LLC

(Last) (First) (Middle)

3420 PUMP RD #356

(Street)

HENRICO VA 23233

(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^*

Erudite Cria, Inc.

(Last) (First) (Middle)

3420 PUMP RD #356

(Street)

HENRICO VA 23233

(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. Holders of common units ("Common Units") of Falcon's Beyond Global, LLC ("Falcon's LLC"), a subsidiary of Falcon's Beyond Global, Inc. (the "Issuer"), have the right to cause Falcon's LLC to redeem such Common Units in whole or in part, for an equal number of shares of the Issuer's Class A common stock, par value $0.0001 per share ("Class A Common Stock"), or cash (at the Issuer's option) and the corresponding shares of the Issuer's non-economic voting Class B common stock, par value $0.0001 per share ("Class B Common Stock") will be canceled, as described in the Issuer's Registration Statement on Form S-4 (File No. 333-269778) (the "Registration Statement").

2. On November 6, 2025, Infinite Acquisitions Partners LLC ("Infinite Acquisitions") submitted a redemption notice to the Company to convert its 11,150,368 Class B Common Stock holding to Class A Common Stock. On November 14, 2025, Infinite Acquisitions effected the redemption of 11,150,368 Common Units, resulting in the delivery of an equal number of shares of Class A Common Stock and the cancellation of the corresponding shares of Class B Common Stock upon execution of the redemption. Includes 13,000,000 Common Units and an equal number of shares of Class B Common Stock (the "Earnout Securities") which are being held in an escrow account, and which will be released to Infinite Acquisitions, if at all, upon the satisfaction of certain milestones described in the Registration Statement. Infinite Acquisitions' right to receive the Earnout Securities upon satisfaction of the earnout conditions became fixed and irrevocable effective as of October 6, 2023.

3. Includes 400,000 shares of Class A Common Stock that are subject to earnout (the "Class A Earnout Shares") and are being held in an escrow account for the benefit of Infinite Acquisitions. The Class A Earnout Shares will be released to Infinite Acquisitions, if at all, upon the satisfaction of certain milestones described in the Registration Statement. Infinite Acquisitions's right to receive the Class A Earnout Shares upon satisfaction of the earnout conditions became fixed and irrevocable effective as of October 6, 2023. Once the Class A Earnout Shares are earned, released and delivered from escrow to Infinite Acquisitions, such shares shall be subject to an additional 1-year lock-up pursuant to an agreement between Infinite Acquisitions and the Issuer.

4. Represents securities held by Infinite Acquisitions. Infinite Acquisitions is controlled by its manager, Erudite Cria, Inc. ("Infinite Manager"). Investment and voting decisions at Infinite Manager with respect to the securities held by Infinite Acquisitions are made by the board of directors of Infinite Manager. Each director has one vote on all matters presented to the board of Infinite Manager, except that the chairman of the board of directors, Lucas Demerau, has two votes on all matters presented to the board of Infinite Manager. Therefore, no individual director of Infinite Manager is the beneficial owner, for purposes of Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), of the securities held by Infinite Acquisitions. Each of Infinite Manager and the directors of Infinite Manager disclaim beneficial ownership over such securities except to the extent of their individual pecuniary interest therein.

5. The Common Units and the Class B Common Stock do not expire.

	Infinite Acquisitions Partners LLC, By: /s/ Lucas Demerau, Name: Lucas Demerau, Title: President	11/18/2025
	Erudite Cria, Inc., By: /s/ Lucas Demerau, Name: Lucas Demerau, Title: President	11/18/2025
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did Infinite Acquisitions report for FBYD?

Infinite Acquisitions Partners LLC reported redeeming 11,150,368 Common Units of Falcon's Beyond Global, LLC on 11/14/2025, receiving 11,150,368 shares of Class A common stock and canceling the corresponding 11,150,368 shares of Class B common stock.

How many Falcon's Beyond Global (FBYD) Class A shares does the reporting holder own after the transaction?

After the reported transaction, Infinite Acquisitions beneficially owns 26,067,927 shares of Class A common stock of Falcon's Beyond Global, Inc.

How many Class B shares of FBYD does Infinite Acquisitions still hold?

Following the conversion and cancellation, Infinite Acquisitions beneficially owns 13,000,000 shares of Class B common stock, which are tied to 13,000,000 Common Units classified as earnout securities.

What are the earnout securities referenced for Falcon's Beyond Global (FBYD)?

The earnout securities include 13,000,000 Common Units and an equal number of Class B common shares held in escrow for Infinite Acquisitions, plus 400,000 Class A earnout shares. These may be released upon satisfaction of milestones described in a registration statement.

When did Infinite Acquisitions' right to the FBYD earnout securities become fixed?

The right of Infinite Acquisitions to receive both the earnout Common Units and Class B shares, as well as the 400,000 Class A earnout shares, became fixed and irrevocable effective as of 10/06/2023.

Do the Common Units and Class B shares of Falcon's Beyond Global expire?

The filing states that the Common Units and the Class B common stock do not expire.

Who controls the voting and investment decisions for the FBYD securities held by Infinite Acquisitions?

The securities are held by Infinite Acquisitions, which is controlled by its manager Erudite Cria, Inc.. Investment and voting decisions are made by Erudite Cria's board of directors, with the chairman, Lucas Demerau, holding two votes while other directors each hold one.