[144] Laird Superfood, Inc. SEC Filing

Rhea-AI Filing Summary

Brown-Forman (BF) Form 144 filing: an unidentified insider plans to sell up to 28,426 Class B shares through Raymond James, targeting 23 July 2025 on the NYSE. At the filing date’s reference price the block is valued at $0.88 million, equal to roughly 0.009 % of the 303.6 million shares outstanding, indicating an immaterial effect on float or control.

The shares were accumulated between 2017-2024 via equity-based compensation (RSU/PBRSU or SSARS cashless exercises). No other sales were reported in the past three months. The signatory certifies no undisclosed adverse information and, if applicable, compliance with a Rule 10b5-1 trading plan.

Investor take-away: the proposed disposal is modest in size; while insider selling can be viewed cautiously, the proportion suggests limited signalling impact absent additional context.

Positive

• Sale equals only 0.009 % of shares outstanding, implying negligible dilution or control shift.
• No insider sales in the prior three months, indicating the transaction is isolated rather than part of a selling trend.

Negative

• $0.88 million insider sale could be interpreted as modestly bearish sentiment, though context is limited.

Insights

Equity Analyst

TL;DR: Small insider sale (~$0.9M, <0.01% float) appears routine; limited valuation impact.

The Form 144 indicates a planned sale of 28,426 BF Class B shares. Valued at $881k, the transaction is negligible versus Brown-Forman’s $33 bn market cap and ample liquidity. Shares derive from long-term incentive awards, typical for executive diversification. No clustered selling or recent disposals were disclosed, lessening concern of broader insider pessimism. I view the filing as non-material to fundamentals or near-term price action.

Corporate Governance Specialist

TL;DR: Routine equity-compensation liquidation; governance red flags not evident.

The filer attests to possessing no non-public negative information and may rely on a Rule 10b5-1 plan. Absence of prior 3-month sales and small relative size suggest compliance with insider-trading safeguards. Given Brown-Forman’s longstanding equity-pay practice, the liquidation aligns with compensation normalcy. I assign a neutral governance impact; investors should monitor but need not infer strategic distress.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	7136	53520.00	10491235	07/23/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Title	07/23/2025	Transaction	Person		07/23/2025	100	07/23/2025	Payment

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Brown-Forman (BF) shares are being sold under this Form 144?

The filer intends to sell 28,426 Class B shares.

What is the aggregate market value of the proposed BF share sale?

The block is valued at approximately $881,206 based on the reference price in the filing.

When is the anticipated sale date for the BF shares?

The approximate sale date disclosed is July 23, 2025.

What percentage of Brown-Forman’s outstanding shares does this sale represent?

The proposed sale equals about 0.009 % of the 303.6 million shares outstanding.

How were the shares being sold originally acquired?

They were received via equity-based compensation awards (RSUs, PBRSUs, SSARS) between 2017 and 2024.

Were any BF shares sold by the insider in the past three months?

No; the Form 144 states "Nothing to Report" for that period.