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Legion Partners details 6.5% NN Inc (NNBR) stake and new letter deal

(Moderate)
(Neutral)
Form Type
SCHEDULE 13D/A

Rhea-AI Filing Summary

Legion Partners–affiliated entities report beneficial ownership of approximately 6.5% of NN Inc’s common stock, based on 77,083,705 Shares outstanding as of July 2, 2026 plus certain Warrants and restricted stock.

The stake is held through several Delaware investment vehicles. Legion Partners I directly owns 3,733,515 Shares, including 214,095 Shares underlying Warrants, representing about 4.8% of the class. Legion Partners II owns 406,049 Shares, including 10,905 Warrant Shares, or about 0.5%, and Legion Partners XI owns 858,283 Shares, or about 1.1%. Through general partner, investment adviser and holding-company relationships, Legion Partners, LLC, Legion Partners Asset Management, LLC, Legion Partners Holdings, LLC, and managing directors Christopher S. Kiper and Raymond T. White may each be deemed beneficial owners of these positions, along with 300 Shares held directly by Legion Partners Holdings and 49,079 Shares of restricted stock granted to Mr. White in his capacity as a director.

On July 29, 2026, Legion-affiliated parties and NN Inc entered a Letter Agreement under which NN Inc immediately accelerated vesting of Mr. White’s 49,079 restricted Shares awarded March 18, 2026. In connection with this, the Legion parties irrevocably waived their replacement rights under Section 1(f) of a prior Cooperation Agreement and acknowledged that NN Inc’s obligations under Section 1 of that agreement have been terminated. The investment entities acquired their positions using working capital, including an aggregate purchase price of approximately $32,766,696 for 3,519,420 Shares and $155,283 for 214,095 Warrant Shares by Legion Partners I, and approximately $7,483,246 for 858,283 Shares by Legion Partners XI.

Positive

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Beneficial ownership 6.5 % Aggregate percentage of NN Inc Shares beneficially owned by Legion-affiliated reporting persons.
Shares outstanding 77,083,705 Shares NN Inc Shares outstanding as of July 2, 2026 used as the ownership percentage denominator.
Legion Partners I holdings 3,733,515 Shares Shares beneficially owned by Legion Partners I, including 214,095 Warrant Shares, about 4.8% of the class.
Total holdings deemed by Kiper and White 5,047,226 Shares Shares each of Christopher S. Kiper and Raymond T. White may be deemed to beneficially own, about 6.5%.
Restricted stock award 49,079 Shares Restricted Shares granted to Raymond White as a director, with vesting accelerated on July 29, 2026.
Legion Partners I purchase price $32,766,696 Aggregate purchase price for 3,519,420 Shares owned directly by Legion Partners I, including commissions.
Legion Partners XI purchase price $7,483,246 Aggregate purchase price for 858,283 Shares owned directly by Legion Partners XI, including commissions.
beneficial owner regulatory
"may be deemed the beneficial owner of the (i) 3,733,515 Shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
restricted stock financial
"awarded 49,079 shares of restricted stock in connection with his service"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
Warrants financial
"214,095 Shares underlying certain Warrants owned directly by Legion Partners I"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
Cooperation Agreement regulatory
"waived their replacement rights pursuant to Section 1(f) of the Cooperation Agreement"
A cooperation agreement is a formal contract between two or more organizations that lays out who will do what, how resources and responsibility are shared, how benefits or costs are divided, and how disputes or exits are handled. Like two chefs agreeing on a shared recipe and kitchen duties, it matters to investors because it can create new revenue paths, shift costs or risks, affect who controls key assets or technologies, and change a company’s future growth prospects.
Letter Agreement regulatory
"entered into a letter agreement with the Issuer (the "Letter Agreement")"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How much of NN Inc (NNBR) does Legion Partners currently report owning?

Legion-affiliated entities report beneficial ownership of approximately 6.5% of NN Inc’s common stock. This is based on 77,083,705 Shares outstanding as of July 2, 2026 plus certain Warrant Shares and 49,079 restricted Shares granted to director Raymond White.

Which Legion funds hold NN Inc (NNBR) shares and in what amounts?

Legion Partners I holds 3,733,515 Shares (including 214,095 Warrant Shares), about 4.8% of NN Inc. Legion Partners II holds 406,049 Shares (including 10,905 Warrant Shares) and Legion Partners XI holds 858,283 Shares, representing about 0.5% and 1.1% respectively.

What is the Letter Agreement disclosed for NN Inc (NNBR) on July 29, 2026?

On July 29, 2026, NN Inc and Legion-affiliated parties entered a Letter Agreement. NN Inc agreed to immediately accelerate vesting of 49,079 restricted Shares awarded to director Raymond White, while Legion parties waived replacement rights under Section 1(f) of a prior Cooperation Agreement.

What restricted stock in NN Inc (NNBR) was granted to Raymond White?

Raymond White was granted 49,079 shares of restricted stock on March 18, 2026 for his service as a director. Under the July 29, 2026 Letter Agreement, NN Inc accelerated vesting of these Shares, and Legion Partners Asset Management is entitled to their economic interests for no consideration.

How many NN Inc (NNBR) shares are used to calculate Legion’s ownership percentage?

The reported ownership percentages use a base of 77,083,705 Shares outstanding as of July 2, 2026. The calculation also includes Shares underlying certain Warrants exercisable by Legion entities and, where applicable, the 49,079 restricted Shares granted to Raymond White.

How were Legion Partners’ NN Inc (NNBR) positions funded and what did they pay?

Legion entities purchased NN Inc securities using working capital. Legion Partners I paid approximately $32,766,696 for 3,519,420 Shares plus $155,283 for 214,095 Warrant Shares, while Legion Partners XI paid approximately $7,483,246 for 858,283 Shares, all amounts including brokerage commissions.





629337106

(CUSIP Number)
CHRISTOPHER S. KIPER
LEGION PARTNERS ASSET MANAGEMENT, LLC, 12121 Wilshire Blvd, Suite 1240
Los Angeles, CA, 90025
424-253-1773


RYAN NEBEL
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
07/29/2026

(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).




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SCHEDULE 13D


Legion Partners, L.P. I
Signature:/s/ Christopher S. Kiper
Name/Title:Christopher S. Kiper, Managing Director of Legion Partners Asset Management, LLC, its Investment Advisor
Date:07/31/2026
Legion Partners, L.P. II
Signature:/s/ Christopher S. Kiper
Name/Title:Christopher S. Kiper, Managing Director of Legion Partners Asset Management, LLC, its Investment Advisor
Date:07/31/2026
Legion Partners Special Opportunities, L.P. XI
Signature:/s/ Christopher S. Kiper
Name/Title:Christopher S. Kiper, Managing Director of Legion Partners Asset Management, LLC, its Investment Advisor
Date:07/31/2026
Legion Partners, LLC
Signature:/s/ Christopher S. Kiper
Name/Title:Christopher S. Kiper, Managing Member of Legion Partners Holdings, LLC, its Managing Member
Date:07/31/2026
Legion Partners Asset Management, LLC
Signature:/s/ Christopher S. Kiper
Name/Title:Christopher S. Kiper, Managing Director
Date:07/31/2026
Legion Partners Holdings, LLC
Signature:/s/ Christopher S. Kiper
Name/Title:Christopher S. Kiper, Managing Member
Date:07/31/2026
Kiper Christopher S
Signature:/s/ Christopher S. Kiper
Name/Title:Christopher S. Kiper
Date:07/31/2026
White Raymond T.
Signature:/s/ Raymond White
Name/Title:Raymond White
Date:07/31/2026