Watts Water (NYSE: WTS) family group reports large holdings, voting trust to 2030

Rhea-AI Filing Summary

Watts Water Technologies owners amend Schedule 13G. A group including Timothy P. Horne, his siblings and Walter J. Flowers filed Amendment No. 43 reporting beneficial ownership positions in Class A Common Stock and describing the 1997 Voting Trust.

The filing shows Timothy P. Horne with 5,903,790 shares (17.7% equity, 68.1% voting), and other group members holding between 1,529,770 and 1,666,970 shares. The 1997 Voting Trust vests sole voting power with the trustee and was extended to expire on August 26, 2030.

Key Figures

Timothy P. Horne shares: 5,903,790 shares Timothy P. Horne equity %: 17.7% Timothy P. Horne voting %: 68.1% +3 more

6 metrics

Timothy P. Horne shares 5,903,790 shares Beneficial ownership reported in Amendment No. 43

Timothy P. Horne equity % 17.7% Equity percentage reported

Timothy P. Horne voting % 68.1% Voting percentage reported

Daniel/Deborah holdings 1,666,970 shares Each reported beneficial ownership

Peter W. Horne shares 1,529,770 shares Reported beneficial ownership

Voting trust expiry August 26, 2030 1997 Voting Trust extended effective November 26, 2024

Key Terms

1997 Voting Trust, right of first refusal, revocable trust

3 terms

1997 Voting Trust regulatory

"The Amended and Restated George B. Horne Voting Trust Agreement 1997"

right of first refusal financial

"pro rata right of first refusal to purchase such shares"

A right of first refusal gives an existing shareholder or party the chance to buy an asset or shares before the owner can sell them to someone else. Think of it like being offered the first option to buy a house when the owner decides to sell; it matters to investors because it can limit who can acquire a stake, slow or block transactions, and affect the price and liquidity of an investment by restricting open-market sales or new buyers.

revocable trust financial

"shares held by a revocable trust for the benefit of"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 43)

WATTS WATER TECHNOLOGIES, INC.

(Name of Issuer)

Class A Common Stock, par value $.10 per share

(Title of Class of Securities)

942749102

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Timothy P. Horne

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 5,903,790.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 942,100.00
8	Shared Dispositive Power 4,961,690.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,903,790.00

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)

17.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Daniel W. Horne

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 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,666,970.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,666,970.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Deborah Horne

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 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,666,970.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,666,970.00

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)

5.7 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Peter W. Horne

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 34,760.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 34,760.00
8	Shared Dispositive Power 1,495,010.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,529,770.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 942749102

1

Names of Reporting Persons

Walter J. Flowers

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 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,799,710.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,799,710.00

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)

6.1 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: WATTS WATER TECHNOLOGIES, INC.
(b)	Address of issuer's principal executive offices: 815 Chestnut Street North Andover, MA, 01845
Item 2.
(a)	Name of person filing: Timothy P. Horne Daniel W. Horne Deborah Horne Peter W. Horne Walter J. Flowers
(b)	Address or principal business office or, if none, residence: c/o Watts Water Technologies, Inc. 815 Chestnut Street North Andover, MA 01845
(c)	Citizenship: United States
(d)	Title of class of securities: Class A Common Stock, par value $.10 per share
(e)	CUSIP No.: 942749102
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: Timothy P. Horne is deemed the beneficial owner of 5,903,790 shares of Class A Common Stock of the Issuer. As noted below, substantially all of Timothy P. Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer, which is convertible into Class A Common Stock on a share for share basis. Includes (i) 7,500 shares of Class A Common Stock held by a revocable trust for the benefit of Timothy P. Horne, for which Timothy P. Horne serves as sole trustee, (ii) 920,000 shares of Class B Common Stock held by a revocable trust for the benefit of Timothy P. Horne, for which Timothy P. Horne serves as sole trustee, (iii) 1,666,970 shares of Class B Common Stock held by a revocable trust for the benefit of Daniel W. Horne, Timothy P. Horne's brother, for which Daniel W. Horne and Walter J. Flowers, a partner in the law firm of Flowers and Manning, LLP, serve as co-trustees, (iv) 1,666,970 shares of Class B Common Stock held by a revocable trust for the benefit of Deborah Horne, Timothy P. Horne's sister, for which Timothy P. Horne serves as sole trustee, which trust is revocable with the consent of the trustee, (v) 1,495,010 shares of Class B Common Stock held by a revocable trust for the benefit of Peter W. Horne, Timothy P. Horne's brother, for which Peter W. Horne serves as sole trustee, (vi) 14,600 shares of Class B Common Stock held for the benefit of Tiffany Horne Noonan, Timothy P. Horne's daughter, under an irrevocable trust for which Timothy P. Horne serves as trustee, (vii) 113,924 shares of Class B Common Stock held by a revocable trust for the benefit of Tiffany Horne Noonan, for which Walter J. Flowers serves as trustee, (viii) 6,447 shares of Class B Common Stock held by a trust for the benefit of Kiera R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, (ix) 6,447 shares of Class B Common Stock held by a trust for the benefit of Tessa R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, and (x) 5,922 shares of Class B Common Stock held by a trust for the benefit of Liv R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees. The shares of Class B Common Stock (5,896,290 shares of Class B Common Stock in the aggregate) are subject to The Amended and Restated George B. Horne Voting Trust Agreement 1997 ("1997 Voting Trust") for which Timothy P. Horne serves as trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Daniel W. Horne is deemed the beneficial owner of 1,666,970 shares of Class A Common Stock of the Issuer. As noted below, all of Daniel W. Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer which is convertible into Class A Common Stock on a share for share basis. Daniel W. Horne's beneficial ownership consists of 1,666,970 shares of Class B Common Stock held in a revocable trust for which Daniel W. Horne and Walter J. Flowers serve as co-trustees, all of which are subject to the 1997 Voting Trust for which Timothy P. Horne serves as sole trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Deborah Horne is deemed the beneficial owner of 1,666,970 shares of Class A Common Stock of the Issuer. As noted below, all of Deborah Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer, which is convertible into Class A Common Stock on a share for share basis. Deborah Horne's beneficial ownership consists of 1,666,970 shares of Class B Common Stock held in a revocable trust for which Timothy P. Horne serves as the sole trustee, all of which are subject to the 1997 Voting Trust for which Timothy P. Horne serves as sole trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Peter W. Horne is deemed the beneficial owner of 1,529,770 shares of Class A Common Stock of the Issuer. As noted below, substantially all of Peter W. Horne's beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer which is convertible into Class A Common Stock on a share for share basis Peter W. Horne's beneficial ownership consists of (i) 1,515,010 shares of Class B Common Stock held in a revocable trust for which Peter W. Horne serves as the sole trustee, and (ii) 14,760 shares of Class A Common Stock. 1,495,010 shares of Class B Common Stock described in clause (i) above are subject to the 1997 Voting Trust for which Timothy P. Horne serves as trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Walter J. Flowers is deemed the beneficial owner of 1,799,710 shares of Class A Common Stock of the Issuer. As noted below, all of Mr. Flowers' beneficial ownership of Class A Common Stock is derived from beneficial ownership of Class B Common Stock, par value $.10 per share, of the Issuer which is convertible into Class A Common Stock on a share for share basis. Mr. Flowers' beneficial ownership consists of (i) 1,666,970 shares of Class B Common Stock held in a revocable trust for the benefit of Daniel W. Horne for which Daniel W. Horne and Mr. Flowers serve as co-trustees, (ii) 113,924 shares of Class B Common Stock held in a revocable trust for the benefit of Tiffany Horne Noonan for which Mr. Flowers serves as the sole trustee, (iii) 6,447 shares of Class B Common Stock held by a trust for the benefit of Kiera R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, (iv) 6,447 shares of Class B Common Stock held by a trust for the benefit of Tessa R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, and (v) 5,922 shares of Class B Common Stock held by a trust for the benefit of Liv R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees. All of the shares of Class B Common Stock (1,799,710 in the aggregate) are subject to the 1997 Voting Trust for which Timothy P. Horne serves as sole trustee. (See Exhibit 2 for a description of the 1997 Voting Trust). Mr. Flowers disclaims beneficial ownership of all such shares.
(b)	Percent of class: Timothy P. Horne 17.7% equity percentage 68.1% voting percentage Daniel W. Horne 5.7% equity percentage 0.0% voting percentage Deborah Horne 5.7% equity percentage 0.0% voting percentage Peter W. Horne 5.3% equity percentage 0.2% voting percentage Walter J. Flowers 6.1% equity percentage 0.0% voting percentage
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Timothy P. Horne 5,903,790 Daniel W. Horne 0 Deborah Horne 0 Peter W. Horne 34,760 Walter J. Flowers 0
	(ii) Shared power to vote or to direct the vote: Timothy P. Horne 0 Daniel W. Horne 0 Deborah Horne 0 Peter W. Horne 0 Walter J. Flowers 0
	(iii) Sole power to dispose or to direct the disposition of: Timothy P. Horne 942,100 Daniel W. Horne 0 Deborah Horne 0 Peter W. Horne 34,760 Walter J. Flowers 0
	(iv) Shared power to dispose or to direct the disposition of: Timothy P. Horne 4,961,690 Daniel W. Horne 1,666,970 Deborah Horne 1,666,970 Peter W. Horne 1,495,010 Walter J. Flowers 1,799,710
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. A group has filed this Schedule 13G pursuant to Rule 13d-1(d). The members of the group are: Timothy P. Horne Daniel W. Horne Deborah Horne Peter W. Horne Walter J. Flowers
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

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.

Timothy P. Horne

Signature:	/s/ Timothy P. Horne
Name/Title:	Timothy P. Horne
Date:	04/30/2026

Daniel W. Horne

Signature:	/s/ Timothy P. Horne*
Name/Title:	Daniel W. Horne
Date:	04/30/2026

Deborah Horne

Signature:	/s/ Timothy P. Horne*
Name/Title:	Deborah Horne
Date:	04/30/2026

Peter W. Horne

Signature:	/s/ Timothy P. Horne*
Name/Title:	Peter W. Horne
Date:	04/30/2026

Walter J. Flowers

Signature:	/s/ Walter J. Flowers
Name/Title:	Walter J. Flowers
Date:	04/30/2026

Comments accompanying signature: *By Timothy P. Horne, Attorney in Fact pursuant to Powers of Attorney filed with the Securities and Exchange Commission on February 12, 1992, which Powers of Attorney are hereby incorporated herein by reference.

Exhibit Information

INDEX OF EXHIBITS 1.Amended and Restated Stock Restriction Agreement 2.The Amended and Restated George B. Horne Voting Trust Agreement - 1997 3.Agreement Regarding Joint Filing EXHIBIT 1 All Class B Common Stock shares beneficially owned by Timothy P. Horne are held individually by or in trusts for the benefit of Timothy P. Horne, Daniel W. Horne, Deborah Horne, Tiffany Horne Noonan, Kiera R. Noonan, Tessa R. Noonan, Liv R. Noonan and Peter W. Horne, and any voting trust certificates representing such shares, are subject to an Amended and Restated Stock Restriction Agreement (the "Agreement"). Upon any proposed voluntary transfer or transfer by operation of law of Class B Common Stock or voting trust certificates representing such shares by any of the above stockholders, or upon the death of such a stockholder holding such shares or voting trust certificates, the other parties to the Agreement have a pro rata right of first refusal to purchase such shares (including a second opportunity to elect to purchase any shares not purchased under the first right of refusal). The purchase price per share is the 15-day average trading price of the Issuer's Class A Common Stock while publicly traded, except in the case of certain involuntary transfers, in which case the purchase price is book value. This summary is qualified in its entirety by reference to the text of the Agreement which is incorporated herein by reference to Exhibit 2 to the Issuer's Current Report on Form 8-K dated October 31, 1991, and to the text of Amendment No. 1 to the Agreement which is incorporated herein by reference to Exhibit 10.21 to the Issuer's Annual Report on Form 10-K dated September 16, 1997. EXHIBIT 2 The 920,000 shares of Class B Common Stock held by a revocable trust for the benefit of Timothy P. Horne, 1,666,970 shares of Class B Common Stock held by a trust for the benefit of Daniel W. Horne, 1,666,970 shares of Class B Common Stock held by a trust for the benefit of Deborah Horne, 1,495,010 shares of Class B Common Stock held by a trust for the benefit of Peter W. Horne, 14,600 shares of Class B Common Stock held for the benefit of Tiffany Horne Noonan under an irrevocable trust for which Timothy P. Horne serves as trustee, 113,924 shares of Class B Common Stock held by a trust for the benefit of Tiffany Horne Noonan for which Walter J. Flowers serves as the sole trustee, 6,447 shares of Class B Common Stock held by a trust for the benefit of Kiera R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, 6,447 shares of Class B Common Stock held by a trust for the benefit of Tessa R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees, and 5,922 shares of Class B Common Stock held by a trust for the benefit of Liv R. Noonan, for which Joseph T. Noonan and Walter J. Flowers serve as co-trustees (5,896,290 shares of Class B Common Stock in the aggregate) are subject to the terms of The George B. Horne Voting Trust Agreement1997 (the "1997 Voting Trust"). Under the terms of the 1997 Voting Trust, the trustee (currently Timothy P. Horne) has sole power to vote all shares subject to the 1997 Voting Trust. Under the terms of the 1997 Voting Trust, in the event Timothy P. Horne ceases to serve as trustee of the 1997 Voting Trust, then Tara V. Horne and Tiffany Horne Noonan (each, a "Successor Trustee" and collectively, the "Successor Trustees"), shall thereupon become cotrustees of the 1997 Voting Trust if such individuals are willing and able to succeed. At any time, Timothy P. Horne, if then living and not subject to incapacity, may designate up to two additional persons, one to be designated as the primary designee (the "Primary Designee") and the other as the secondary designee ("Secondary Designee"), to serve in the stead of any Successor Trustee who shall be unable or unwilling to serve as a trustee of the 1997 Voting Trust. Such designations are revocable by Timothy P. Horne at any time prior to the time at which such designees become a trustee. If any of the Successor Trustees is unable or unwilling or shall otherwise fail to serve as a trustee of the 1997 Voting Trust, or after becoming a co-trustee shall cease to serve as such for any reason, then a third person shall become a co-trustee with the remaining two trustees, in accordance with the following line of succession: first, any individual designated as the Primary Designee, next, any individual designated as the Secondary Designee, and then, an individual appointed by the holders of a majority in interest of the voting trust certificates then outstanding. In the event that the Successor Trustees shall not concur on matters not specifically contemplated by the terms of the 1997 Voting Trust, the vote of a majority of the Successor Trustees shall be determinative. No trustee or Successor Trustee shall possess the Determination Power unless it is specifically conferred upon such trustee pursuant to the provisions of the 1997 Voting Trust. The 1997 Voting Trust was extended effective as of November 26, 2024 by unanimous agreement of the holders of all of the outstanding trust certificates issued under the 1997 Voting Trust agreement for an additional period of four years and will expire on August 26, 2030. The 1997 Voting Trust may be amended by vote of the holders of a majority of the voting trust certificates then outstanding and by the number of trustees authorized to take action at the relevant time. Shares may not be removed from the 1997 Voting Trust during its term without the consent of the trustees. This summary is qualified in its entirety by reference to the 1997 Voting Trust which is incorporated herein by reference to Exhibit 9.2 of the Issuer's Annual Report on Form 10-K dated September 28, 1999 filed with the Securities and Exchange Commission. EXHIBIT 3 AGREEMENT REGARDING JOINT FILING Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the undersigned hereby agree to file jointly on behalf of each of them the statement on Schedule 13G to which this Agreement is attached, and any amendments thereto, pursuant to Regulation 13D-G under the Exchange Act. It is understood and agreed that each of the parties hereto is responsible for the timely filing of the statement on Schedule 13G to which this Agreement is attached, and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein; provided that such party is not responsible for the completeness or accuracy of information concerning any other party unless such party knows or has reason to believe that such information is inaccurate.

FAQ

What ownership stake does Timothy P. Horne report in WTS?

Timothy P. Horne reports beneficial ownership of 5,903,790 shares, representing 17.7% equity and 68.1% voting power. Much of this position derives from convertible Class B shares held in trusts subject to the 1997 Voting Trust.

How much voting control does the 1997 Voting Trust grant and when does it expire?

The 1997 Voting Trust gives the trustee sole power to vote the subject shares and was extended to expire on August 26, 2030. Successor trustee provisions and designation rights are described in the agreement summary.

Which other individuals are part of the filing group for WTS?

The joint filing group includes Daniel W. Horne, Deborah Horne, Peter W. Horne, and Walter J. Flowers. Their reported beneficial holdings range from 1,529,770 to 1,799,710 shares, as shown in the amendment.

Are the reported Class B shares convertible into Class A shares?

Yes. The filing states Class B Common Stock is convertible into Class A Common Stock on a one-for-one basis, and the beneficial ownership figures for Class A are derived from those convertible Class B holdings.

Does the filing describe transfer restrictions on the shares?

Yes. An Amended and Restated Stock Restriction Agreement gives other parties a pro rata right of first refusal on voluntary or involuntary transfers; pricing is the 15-day average trading price or book value for certain involuntary transfers.