Victoria's Secret holder BBRC sells 289K shares

Rhea-AI Filing Summary

BBRC International Pte Ltd, a ten percent owner of Victoria's Secret & Co., reported selling 289,479 shares of common stock on 2026-07-22 at $88.89 per share through an indirect holding structure involving the BB Family International Trust and BBFIT Investments Pte Ltd.

Following this transaction, BBRC International Pte Ltd indirectly holds 8,609,551 shares, and disclaims beneficial ownership of securities beyond its direct holdings or pecuniary interest. The sale was not reported as made under a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 289,479 shares

Net Sell 1 txn

Insider BBRC INTERNATIONAL PTE LTD

Role 10% Owner

Sold 289,479 shs ($25.73M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1	289,479	$88.89	$25.73M

Holdings After Transaction: Common Stock — 8,609,551 shares (Indirect, See Footnote 1)

Footnotes (1)

1. F1. Consists of shares owned by the reporting person, as trustee for the BB Family International Trust (the "BB Family Trust"), and by BBFIT Investments Pte Ltd ("BBFIT"). BB Family Trust is the sole shareholder of BBFIT. The reporting person, as the trustee of BB Family Trust, may be deemed to beneficially own the shares owned by BBFIT and BB Family Trust. The reporting person expressly disclaims beneficial ownership of any securities of the Issuer except for those securities that are owned directly by the reporting person or to the extent of the reporting person's pecuniary interest therein.

Key Figures

Shares Sold: 289,479 shares Sale Price: $88.89 per share Shares Held After Transaction: 8,609,551 shares

3 metrics

Shares Sold 289,479 shares Common stock sale reported on 2026-07-22

Sale Price $88.89 per share Price for the 289,479 common shares sold

Shares Held After Transaction 8,609,551 shares Indirect holdings following the reported sale

Key Terms

ten percent owner, indirect ownership, beneficially own, pecuniary interest

4 terms

ten percent owner regulatory

"The reporting person is indicated as a ten percent owner of the issuer."

indirect ownership financial

"Total holdings are reported as indirect with nature of ownership referencing a footnote."

beneficially own regulatory

"may be deemed to beneficially own the shares owned by BBFIT and BB Family Trust"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

pecuniary interest financial

"disclaims beneficial ownership except to the extent of the reporting person's pecuniary interest therein"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did VSXY report involving BBRC International Pte Ltd?

BBRC International Pte Ltd, a ten percent owner of Victoria's Secret & Co. (VSXY), reported selling 289,479 common shares on 2026-07-22 at $88.89 per share. The sale was reported as an indirect transaction through trust-related entities.

How many Victoria's Secret (VSXY) shares did BBRC International sell and at what price?

BBRC International Pte Ltd sold 289,479 shares of Victoria's Secret & Co. (VSXY) common stock at $88.89 per share. This was recorded as a non-derivative sale in open-market or private transactions, based on the transaction code description.

How many VSXY shares does BBRC International hold after the reported sale?

After the sale, BBRC International Pte Ltd is reported as indirectly holding 8,609,551 shares of Victoria's Secret & Co. (VSXY) common stock. These holdings consist of shares held through the BB Family International Trust and BBFIT Investments Pte Ltd.

Is the VSXY insider sale by BBRC International under a Rule 10b5-1 trading plan?

The BBRC International Pte Ltd transaction in Victoria's Secret & Co. (VSXY) shares was not reported as made under a Rule 10b5-1 trading plan. The document-level checkbox indicating trading under such a plan was explicitly left unchecked.

How are BBRC International's VSXY shares held and what ownership does it claim?

The VSXY shares consist of holdings by BBRC International Pte Ltd as trustee for the BB Family International Trust and by BBFIT Investments Pte Ltd. BBRC, as trustee, may be deemed to beneficially own them but disclaims ownership beyond its pecuniary interest.

What does indirect ownership mean for BBRC International's stake in VSXY?

Indirect ownership of VSXY for BBRC International Pte Ltd means its reported 8,609,551 shares are held via the BB Family International Trust and BBFIT Investments Pte Ltd. BBRC is trustee of the trust, which is the sole shareholder of BBFIT, creating layered beneficial ownership.

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

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Accepted by SEC EDGAR 07/24/2026 - 04:55 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BBRC INTERNATIONAL PTE LTD

(Last) (First) (Middle)

3 PHILLIP STREET #09-05

ROYAL GROUP BUILDING

(Street)

SINGAPORE 048693

(City) (State) (Zip)

SINGAPORE

(Country)

2. Issuer Name and Ticker or Trading Symbol
Victoria's Secret & Co. [ VSXY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/22/2026		S		289,479	D	$88.89	8,609,551	I(1)	See Footnote 1

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Consists of shares owned by the reporting person, as trustee for the BB Family International Trust (the "BB Family Trust"), and by BBFIT Investments Pte Ltd ("BBFIT"). BB Family Trust is the sole shareholder of BBFIT. The reporting person, as the trustee of BB Family Trust, may be deemed to beneficially own the shares owned by BBFIT and BB Family Trust. The reporting person expressly disclaims beneficial ownership of any securities of the Issuer except for those securities that are owned directly by the reporting person or to the extent of the reporting person's pecuniary interest therein.

	/s/ Brett Blundy, Managing Director	07/24/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)