Brian Bares transfers RAVE shares to family foundation but keeps voting power

Rhea-AI Filing Summary

RAVE Restaurant Group disclosed that Brian T. Bares transferred record title to 1,388,715 shares of common stock to the Bares Family Foundation, Inc., while retaining voting and dispositive power. The shares represent approximately 9.8% (reported as 9.77%) of the outstanding class. Both Mr. Bares and the Foundation are listed as reporting persons; Mr. Bares signs for himself and as Director of the Foundation. The filing states the transfer does not change Mr. Baresontrol over the shares and that purchases or sales may occur in the future depending on market conditions.

Positive

• Continued centralized control: Mr. Bares retains voting and dispositive power over the 1,388,715 shares
• Regulatory compliance: Ownership change and status disclosed on Schedule 13G with detailed figures
• Clear ownership percentage: Stake reported as approximately 9.8% of the class

Negative

• Concentrated ownership: A single individual/foundation controls ~9.8% of shares, which represents a material minority stake
• Potential future trading: Filing states Reporting Persons may buy or sell additional shares, introducing possible future ownership changes

Insights

Securities Analyst

TL;DR: Beneficial ownership transferred to a foundation while the individual retains voting and dispositive control; holding equals ~9.8% of the class.

The filing documents a record transfer of 1,388,715 shares from Brian T. Bares to the Bares Family Foundation, Inc., with Mr. Bares retaining both voting and dispositive powers. The disclosed stake of ~9.8% is above the 5% reporting threshold, making this a material ownership disclosure but not indicative of an immediate change in control because voting authority remains unchanged. The filing is presented on Schedule 13G, consistent with a passive reporting posture although the retained control over votes and disposition is explicitly noted.

Corporate Governance Expert

TL;DR: Transfer to a family foundation changes record ownership but maintains same decision-maker, preserving continuity in governance influence.

The statement clarifies that record ownership moved to a Texas charitable foundation while Mr. Bares continues to exercise voting and disposition rights. From a governance perspective, the practical effect is continuity of influence despite the nominal owner change. The filing also confirms the Reporting Personsligibility to use Schedule 13G rather than a Schedule 13D amendment, and notes potential future trading activity depending on market factors.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

RAVE RESTAURANT GROUP, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

754198109

(CUSIP Number)

08/29/2025

(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)

SCHEDULE 13G

CUSIP No. 754198109

1

Names of Reporting Persons

Bares Brian Timothy

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,388,715.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,388,715.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,388,715.00

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)

9.8 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP No. 754198109

1

Names of Reporting Persons

Bares Family Foundation, Inc.

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

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,388,715.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,388,715.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,388,715.00

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)

9.8 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Explanatory Note: On August, 29, 2025, Brian T. Bares (the Initial Filer) transferred record ownership in 1,388,715 shares of the Issuers common stock (the Shares) to the Bares Family Foundation, Inc., (the New Filer) with the Initial Filer retaining voting and dispositive power over the Shares. Notwithstanding the change in record ownership, Mr. Bares continues to hold voting and dispositive power over the Shares. The Reporting Persons may purchase or sell additional shares from time to time depending upon price, market conditions, availability of funds, evaluation of other investment opportunities, and other factors. The Reporting Persons are disclosing ownership in the Issuer on Schedule 13G rather than an amendment to the Initial Filers Schedule 13D, filed with the Commission on September 15, 2017 (the Initial Filing), as the Reporting Persons are eligible as of this date to report ownership on Schedule 13G and the Initial Filer was eligible at the time of the Initial Filing to report his ownership on Schedule 13G, notwithstanding the fact that the Initial Filing was made on Schedule 13D.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: RAVE RESTAURANT GROUP, INC.
(b)	Address of issuer's principal executive offices: 3551 PLANO PARKWAY, THE COLONY, TEXAS, 75056
Item 2.
(a)	Name of person filing: Brian T. Bares Bares Family Foundation, Inc.
(b)	Address or principal business office or, if none, residence: Same principal business office for Brian T. Bares and Bares Family Foundation, Inc. 12600 Hill Country Blvd Suite R-230 Austin, TX 78738
(c)	Citizenship: Brian T. Bares USA Bares Family Foundation, Inc. Organized under the laws of Texas
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 754198109
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: Brian T. Bares 1.388.715 shares Bares Family Foundation. Inc. 1,388.715 shares
(b)	Percent of class: Brian T. Bares 9.77% Bares Family Foundation. Inc. 9.77%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Brian T. Bares 1.388,715 shares
	(ii) Shared power to vote or to direct the vote: Bares Family Foundation. Inc. 1,388.715 shares
	(iii) Sole power to dispose or to direct the disposition of: Brian T. Bares 1,388,715 shares
	(iv) Shared power to dispose or to direct the disposition of: Bares Family Foundation. Inc. 1,388.715 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
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.
	Not Applicable
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.

Bares Brian Timothy

Signature:	Brian T. Bares
Name/Title:	Individual
Date:	09/15/2025

Bares Family Foundation, Inc.

Signature:	Brian T. Bares
Name/Title:	Director
Date:	09/15/2025

FAQ

What did the Schedule 13G filed for RAVE (RAVE) disclose?

The filing discloses that 1,388,715 shares were transferred to the Bares Family Foundation, Inc., with Brian T. Bares retaining voting and dispositive power.

What percentage of RAVE does the reported stake represent?

The reported aggregate amount represents approximately 9.77% to 9.8% of RAVEommon stock.

Who are the reporting persons on the filing?

The reporting persons are Brian T. Bares and Bares Family Foundation, Inc., with the same principal business address listed.

Does the filing indicate a change in who controls the shares?

No. Although record ownership transferred to the Foundation on August 29, 2025, the filing states Mr. Bares retains voting and dispositive power.

When was the Schedule 13G signed?

Signatures for both the individual and the Foundation were dated 09/15/2025.