Leslie's (LESL) group reports 470,000 shares; joint filing disclosed

Rhea-AI Filing Summary

Leslie's, Inc. reporting persons Lee William Baxter and Andrew Storm (a group) disclose combined beneficial ownership of 470,000 shares, representing 5.02% of the class.

The filing lists individual holdings of 306,000 shares (Lee William Baxter, 3.3%) and 164,000 shares (Andrew Storm, 1.8%) and attaches a Joint Filing Agreement.

Insights

Corporate Governance Analyst

Group discloses passive ownership just over 5%.

The Schedule 13G shows a combined beneficial ownership of 470,000 shares or 5.02% of the class, which must be reported when passive investors cross the 5% threshold. This filing signals disclosure compliance, not an active takeover bid.

Timing and intent are not stated; subsequent filings could clarify whether the position remains passive or becomes active.

Securities Lawyer

Filing includes a Joint Filing Agreement and standard ownership breakdown.

The schedule names the filing persons, provides the CUSIP 527064208, and itemizes sole voting and dispositive power totals for each member and the group. The exhibit referenced is Exhibit 99.1 (Joint Filing Agreement).

Legal significance is disclosure-driven; control or change-in-intent language is not present in the excerpt.

Key Figures

Beneficial ownership (group): 470,000 shares Percent of class: 5.02% Baxter shares: 306,000 shares +3 more

6 metrics

Beneficial ownership (group) 470,000 shares Total beneficially owned by the reporting group

Percent of class 5.02% Group ownership percentage disclosed in Item 4

Baxter shares 306,000 shares Sole voting and dispositive power reported for Lee William Baxter

Baxter percent 3.3% Percentage reported next to Baxter's holdings

Murchison/Storm shares 164,000 shares Sole voting and dispositive power reported for Andrew Storm

CUSIP 527064208 Identifier shown in the filing header

Key Terms

Schedule 13G, Beneficial ownership, Joint Filing Agreement, Sole dispositive power

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: Leslie's, Inc.; form header shows Schedule 13G"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficial ownership financial

"Item 4. (a) Amount beneficially owned: 470,000 (b) Percent of class: 5.02%"

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.

Joint Filing Agreement legal

"Exhibit 99.1 - Joint Filing Agreement by and between the Reporting Persons."

Sole dispositive power regulatory

"Item 4. (c)(iii) Sole power to dispose or to direct the disposition of: 470,000"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Leslie's, Inc.

(Name of Issuer)

Leslie's, Inc.

(Title of Class of Securities)

527064208

(CUSIP Number)

5/20/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 527064208

1

Names of Reporting Persons

Lee William Baxter

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

TENNESSEE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 306,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 306,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

306,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 527064208

1

Names of Reporting Persons

Storm Andrew Murchison

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

GEORGIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 164,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 164,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

164,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.8 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Leslie's, Inc.
(b)	Address of issuer's principal executive offices: 2005 E. INDIAN SCHOOL ROAD, PHOENIX, ARIZONA, 85016.
Item 2.
(a)	Name of person filing: Lee William Baxter and Andrew Storm, a group
(b)	Address or principal business office or, if none, residence: 917 Woodmont Blvd Nashville TN 37204
(c)	Citizenship: United States
(d)	Title of class of securities: Leslie's, Inc.
(e)	CUSIP Number(s): 527064208
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 470,000
(b)	Percent of class: 5.02%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 470,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 470,000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Exhibit 99.1 (Joint Filing Agreement) for the identity of the members of the group.
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

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.

Lee William Baxter

Signature:	Willam Baxter Lee
Name/Title:	Individual
Date:	05/20/2026

Storm Andrew Murchison

Signature:	Andrew Murchison Storm
Name/Title:	Individual
Date:	05/20/2026

Exhibit Information

Exhibit 99.1 - Joint Filing Agreement by and between the Reporting Persons.

FAQ

What stake does LESL reporting group hold?

They report owning 470,000 shares, equal to 5.02% of the class. The filing shows individual holdings of 306,000 and 164,000 shares and a joint filing agreement between the two reporting persons.

Who are the filing persons in the LESL Schedule 13G?

The filing names Lee William Baxter and Andrew Storm as a group. The document lists their addresses, citizenships, individual share counts, and a signed Joint Filing Agreement as Exhibit 99.1.

How much voting power do the LESL filers report?

The filers report sole voting power over 470,000 shares for the group. Line items show Baxter with 306,000 sole votes and Storm with 164,000 sole votes; no shared voting power is indicated in the excerpt.

Does the LESL filing indicate an active acquisition or takeover?

No active acquisition language is included; the Schedule 13G reports beneficial ownership of 470,000 shares (5.02%). The excerpt contains no statement of plans or proposals to acquire control or change the company’s governance.

What exhibit supports the LESL Schedule 13G filing?

The filing references Exhibit 99.1, a Joint Filing Agreement between the reporting persons. The exhibit identity is stated explicitly in the excerpt and accompanies the signatures dated 05/20/2026.