[SCHEDULE 13D/A] Inspirato Inc SEC Filing

Rhea-AI Filing Summary

Inspirato shareholders Brent Handler and Bradley A. Handler filed Amendment No. 4 to their Schedule 13D regarding Class A common stock of Inspirato Incorporated (ISPO). Collectively they report beneficial ownership of 528,907 and 481,235 shares respectively, representing 4.2% and 3.8% of the 12,469,941 outstanding Class A shares cited from the issuer's August 13, 2025 filing.

The Amendment supplements prior Section 220 demands to inspect Inspirato books and records and states the Reporting Persons submitted a Supplemental 220 Demand on September 24, 2025 to investigate possible breaches of fiduciary duty, mismanagement and questions about independence of executives and the board in connection with the proposed merger with Buyerlink, Inc. and competing offers by Exclusive Investments, LLC.

Positive

• Supplemental Section 220 demand demonstrates active shareholder oversight seeking transparency from management
• Clear ownership disclosure specifies exact share counts and percentage of the 12,469,941 Class A shares outstanding

Negative

• Allegations of possible breaches of fiduciary duty and mismanagement tied to the Proposed Merger with Buyerlink, Inc.
• Concerns about independence and disinterestedness of senior executives and the board in connection with the Proposed Merger and Exclusive Offers

Insights

Corporate Governance Expert

TL;DR: Shareholders expanded a Section 220 inspection to probe potential fiduciary breaches tied to a proposed merger and competing offers.

The Amendment No. 4 formalizes increased scrutiny of the board and senior management after the initial 220 demand, focusing on potential breaches of fiduciary duty, mismanagement and director/officer independence with respect to the Proposed Merger with Buyerlink, Inc. and the Exclusive Offers. A supplemental 220 demand signals escalation in shareholder activism and could lead to further disclosure, litigation or negotiation leverage if the records substantiate the Reporting Persons' concerns.

Securities Analyst

TL;DR: Two significant insiders/trust beneficiaries increased document inspection efforts; holdings represent low-single-digit stakes.

The filing discloses precise holdings and percent ownership using the issuer's reported 12,469,941 Class A shares outstanding. The Reporting Persons rely on trust and record holdings rather than open-market purchases, and the action is information-seeking rather than an announced transaction. Market impact will depend on findings from the supplemental inspection and any subsequent disclosures or legal steps.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

Inspirato Incorporated

(Name of Issuer)

Class A Common Stock, par value $0.0001 per share

(Title of Class of Securities)

45791E107

(CUSIP Number)

Brent Handler
5 Covington Drive,
Englewood, CO, 80113
2063894533

Brad Handler
3621 21st Street,
Boulder, CO, 80304
2063894533

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/24/2025

(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).

SCHEDULE 13D

CUSIP No. 45791E107

1

Name of reporting person

Brent Handler

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 22,218.00
8	Shared Voting Power 506,689.00
9	Sole Dispositive Power 22,218.00
10	Shared Dispositive Power 506,689.00

11

Aggregate amount beneficially owned by each reporting person

528,907.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.2 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(1) The amount reported in rows 7 and 9 consists of 22,218 shares of Class A common stock held of record by Brent Handler. (2) The amount reported in rows 8 and 10 consists of (i) 487,830 shares of Class A common stock held of record by Brent L. Handler Revocable Trust for which Brent Handler serves as a trustee and (ii) 18,859 shares of Class A common stock held of record by the Brent L. Handler Descendant's Trust for which Brent Handler serves as a trustee. (3) The reported percentage is based on the quotient obtained by dividing (a) the aggregate amount beneficially owned by the Reporting Person as set forth in Row 11 by (b) 12,469,941 shares of Class A common stock outstanding as of August 11, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2025, filed with the Securities and Exchange Commission on August 13, 2025.

SCHEDULE 13D

CUSIP No. 45791E107

1

Name of reporting person

Bradley A. Handler

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 481,235.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 481,235.00

11

Aggregate amount beneficially owned by each reporting person

481,235.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

3.8 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(1) The amount reported in rows 8 and 10 consists of (i) 481,235 shares of Class A common stock held of record by Handler Revocable Trust for which Bradley Handler serves as a trustee and (ii) 334,497 shares of Class A common stock held of record by the HFIN 2020 Trust for which Bradley Handler is the beneficiary. (2) The reported percentage is based on the quotient obtained by dividing (a) the aggregate amount beneficially owned by the Reporting Person as set forth in Row 11 by (b) 12,469,941 shares of Class A common stock outstanding as of August 11, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2025, filed with the Securities and Exchange Commission on August 13, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, par value $0.0001 per share
(b)	Name of Issuer: Inspirato Incorporated
(c)	Address of Issuer's Principal Executive Offices: 1544 Wazee Street, Denver, COLORADO , 80202.
Item 1 Comment: This Amendment No. 4 (the "Amendment"), which supplements and amends the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on July 31, 2025, as amended on September 3, 2025, September 5, 2025 and September 18, 2025 (as amended, the "Original Schedule 13D") filed on behalf of Brent Handler and Bradley Handler, collectively referred to herein as the "Reporting Persons", relating to the Class A Common Stock, par value $0.0001 per share ("Shares"), of lnspirato Incorporated, a Delaware corporation (the "Issuer" or "lnspirato"). The Original Schedule 13D is hereby amended to the extent hereinafter expressly set forth and, except as amended hereby, the Original Schedule 13D remains in full force and effect. All capitalized terms used but not defined in this Amendment shall have the same meanings herein as are ascribed to such terms in the Original Schedule 13D.
Item 4.	Purpose of Transaction
	Item 4 of the Schedule 13D is hereby amended and supplemented as follows: (a) and (b) As previously disclosed, the Reporting Persons previously delivered to the Issuer a demand, pursuant to Section 220 of the Delaware General Corporation Law ("Section 220"), to inspect certain books and records of the Issuer (the "220 Demand") to allow the Reporting Persons to investigate the actions of the Issuer's senior management and board of directors pertaining to the Issuer's proposed merger with Buyerlink, Inc. (the "Proposed Merger") and the related transactions described in the Issuer's preliminary proxy statement filed on July 25, 2025. On September 24, 2025, the Reporting Persons filed a supplemental demand pursuant to Section 220 (the "Supplemental 220 Demand"). The purpose of the Supplemental 220 Demand is to allow the Reporting Persons to further investigate the actions of the Issuer's senior management and board of directors following the original 220 Demand, and including (i) possible breaches of fiduciary duty, mismanagement, and other wrongdoing by Inspirato's directors and officers in connection with Inspirato's responses to the proposed offers by Exclusive Investments, LLC (the "Exclusive Offers") and statements made by the Issuer's CEO regarding the Issuer's minority stockholders and (ii) the independence and disinterestedness of the Issuer's senior executives and board of directors given the facts around the Proposed Merger and the Exclusive Offers.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Brent Handler

Signature:	/s/ Brent Handler
Name/Title:	Brent Handler
Date:	09/24/2025

Bradley A. Handler

Signature:	/s/ Bradley A. Handler
Name/Title:	Bradley A. Handler
Date:	09/24/2025

FAQ

Who filed the Schedule 13D/A for Inspirato (ISPO)?

The filings were made by shareholders Brent Handler and Bradley A. Handler.

How many Class A shares do the Reporting Persons beneficially own?

Brent Handler reports 528,907 shares (4.2%) and Bradley A. Handler reports 481,235 shares (3.8%) of Class A stock.

What action did the Reporting Persons take on September 24, 2025?

They filed a Supplemental Section 220 demand to inspect Inspirato's books and records to further investigate management and board actions.

What issues are the Reporting Persons investigating?

They are investigating possible breaches of fiduciary duty, mismanagement and questions about the independence of executives and directors related to the Proposed Merger and Exclusive Offers.

Which proposed merger and competing offers are referenced?

The filing references the proposed merger with Buyerlink, Inc. and competing offers by Exclusive Investments, LLC.