BBRC sells 798,920 Victoria's Secret & Co. shares

BBRC INTERNATIONAL PTE LTD, a 10% owner of Victoria's Secret & Co., reported selling a total of 798,920 shares of common stock on July 28, 2026, in open-market transactions at weighted-average prices between $88.50 and $90.69.

Rhea-AI Filing Summary

BBRC INTERNATIONAL PTE LTD, a 10% owner of Victoria's Secret & Co., reported selling a total of 798,920 shares of common stock on July 28, 2026, in open-market transactions at weighted-average prices between $88.50 and $90.69. The sales were effected indirectly through BB Family International Trust and BBFIT Investments Pte Ltd and were not reported as made under a Rule 10b5-1 trading plan.

Insider Trade Summary

Net Seller: 798,920 shares

Net Sell 3 txns

Insider BBRC INTERNATIONAL PTE LTD

Role 10% Owner

Sold 798,920 shs ($71.22M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	718,007	$89.08	$63.96M
Sale	Common Stock F3, F2	79,122	$89.76	$7.10M
Sale	Common Stock F4, F2	1,791	$90.60	$162K

Holdings After Transaction: Common Stock — 7,810,631 shares (Indirect, See Footnote 2)

Footnotes (4)

1. F1. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.50 to $89.50, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
2. F2. 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.
3. F3. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.51 to $90.50, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.
4. F4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.55 to $90.69, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

Key Figures

First block sold: 718,007 shares at $89.08 per share Second block sold: 79,122 shares at $89.76 per share Third block sold: 1,791 shares at $90.60 per share +4 more

7 metrics

First block sold 718,007 shares at $89.08 per share Open-market sale of common stock on July 28, 2026

Second block sold 79,122 shares at $89.76 per share Open-market sale of common stock on July 28, 2026

Third block sold 1,791 shares at $90.60 per share Open-market sale of common stock on July 28, 2026

Total shares sold 798,920 shares Aggregate common shares sold by reporting person on July 28, 2026

Price range block 1 $88.50–$89.50 Range of individual trade prices for 718,007-share block

Price range block 2 $89.51–$90.50 Range of individual trade prices for 79,122-share block

Price range block 3 $90.55–$90.69 Range of individual trade prices for 1,791-share block

Key Terms

weighted average price, beneficially own, pecuniary interest, indirect

4 terms

weighted average price financial

"The price reported is a weighted average price. These shares were sold"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficially own financial

"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

"except for those securities that are owned directly or to the extent of the reporting person's pecuniary interest"

indirect financial

"Consists of shares owned by the reporting person, as trustee, and by BBFIT Investments Pte Ltd"

FAQ

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

What insider transaction did BBRC INTERNATIONAL report for VSXY on July 28, 2026?

BBRC INTERNATIONAL PTE LTD reported selling 798,920 shares of Victoria's Secret & Co. common stock on July 28, 2026. The sales occurred in three open-market blocks at weighted-average prices between $88.50 and $90.69, according to the Form 4 disclosure.

How were the VSXY insider sales by BBRC INTERNATIONAL priced?

The reported sales used weighted average prices for each block: $89.08, $89.76, and $90.60 per share. Footnotes state the actual trades occurred in ranges from $88.50–$90.69, and full breakdowns are available on request from the parties listed.

Were BBRC INTERNATIONAL's VSXY sales under a Rule 10b5-1 plan?

The transactions were not reported as made under a Rule 10b5-1 trading plan. The Form 4's Rule 10b5-1 checkbox is marked negative, and no footnote describes these sales as pursuant to any pre-arranged trading arrangement.

How many VSXY shares did BBRC INTERNATIONAL sell in each block?

BBRC INTERNATIONAL reported selling 718,007 shares at a weighted average of $89.08, 79,122 shares at $89.76, and 1,791 shares at $90.60. All three transactions involved Victoria's Secret & Co. common stock on July 28, 2026.

What is the ownership structure behind BBRC INTERNATIONAL's VSXY holdings?

The reported VSXY shares are held indirectly through BB Family International Trust and BBFIT Investments Pte Ltd. BB Family Trust is BBFIT's sole shareholder, and BBRC, as trustee, may be deemed to beneficially own the shares to the extent of its pecuniary interest.

Does BBRC INTERNATIONAL fully acknowledge beneficial ownership of all VSXY shares involved?

BBRC, as trustee of BB Family International Trust, may be deemed to beneficially own the VSXY shares held by the trust and BBFIT. However, it expressly disclaims beneficial ownership of any issuer securities except those owned directly or to the extent of its pecuniary interest.

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

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Available on EDGAR 07/29/2026 - 04:30 PM Accepted by SEC EDGAR 07/29/2026 - 04:30 PM 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

X

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)
07/28/2026

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	07/28/2026		S		718,007	D	$89.08	7,891,544(1)	I(2)	See Footnote 2
Common Stock	07/28/2026		S		79,122	D	$89.76	7,812,422(3)	I(2)	See Footnote 2
Common Stock	07/28/2026		S		1,791	D	$90.6	7,810,631(4)	I(2)	See Footnote 2

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. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $88.50 to $89.50, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

2. 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.

3. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $89.51 to $90.50, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $90.55 to $90.69, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

	/s/ Brett Blundy, Managing Director	07/29/2026
	** 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)