Yesway (NASDAQ: YSWY) counsel reports Class B stock and LLC units

Rhea-AI Filing Summary

Yesway, Inc. reported initial holdings for General Counsel and Secretary Kurt M. Zernich. The filing shows direct ownership of 77,089 shares of Class B Common Stock and 77,089 LLC Interests of BW Ultimate Parent, LLC.

According to the disclosure, each LLC Interest may be redeemed on or after the closing of the Initial Public Offering for one share of Class A Common Stock, subject to exceptions, conditions and adjustments. When an LLC Interest is exchanged, an equal number of Class B Common Stock shares held by the insider are cancelled. The LLC Interests have no expiration date.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Zernich Kurt M.

Role General Counsel and Secretary

Type	Security	Shares	Price	Value
holding	LLC Interests	--	--	--
holding	Class B Common Stock	--	--	--

Holdings After Transaction: LLC Interests — 77,089 shares (Direct, null); Class B Common Stock — 77,089 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Class B Common Stock held: 77,089 shares LLC Interests held: 77,089 units Redemption ratio: 1-to-1 +1 more

4 metrics

Class B Common Stock held 77,089 shares Direct holdings reported on Form 3

LLC Interests held 77,089 units BW Ultimate Parent, LLC Interests, redeemable into Class A Common Stock

Redemption ratio 1-to-1 Each LLC Interest redeemable for one share of Class A Common Stock

Exercise price of LLC Interests $0.0000 Exercise/redemption price disclosed for LLC Interests

Key Terms

Class B Common Stock, LLC Interests, Initial Public Offering, Class A Common Stock

4 terms

Class B Common Stock financial

"The filing shows direct ownership of 77,089 shares of Class B Common Stock"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

LLC Interests financial

"The membership units of BW Ultimate Parent, LLC ("LLC Interests") may be redeemed"

Initial Public Offering financial

"may be redeemed by the Reporting Person at any time on or following the closing of the Initial Public Offering"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

Class A Common Stock financial

"for shares of Class A Common Stock on a 1-to-1 basis"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Zernich Kurt M.

(Last) (First) (Middle)

C/O YESWAY, INC.

2301 EAGLE PARKWAY

(Street)

FORT WORTH TEXAS 76177

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/22/2026

3. Issuer Name and Ticker or Trading Symbol
Yesway, Inc. [ YSWY ]

3a. Foreign Trading Symbol

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	General Counsel and Secretary

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class B Common Stock	77,089	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LLC Interests	(1)	(1)	Class A Common Stock	77,089	(1)	D

Explanation of Responses:

1. The membership units of BW Ultimate Parent, LLC ("LLC Interests") may be redeemed by the Reporting Person at any time on or following the closing of the Initial Public Offering for shares of Class A Common Stock on a 1-to-1 basis, subject to certain exceptions, conditions and adjustments. At the time of any such exchange, an equal number of shares of Class B Common Stock of the Issuer held by the Reporting Person, are cancelled. The LLC Interests have no expiration date.

Remarks:

Exhibit 24 - Power of Attorney.

	/s/ Thomas N. Trkla, Attorney-in-fact for Kurt M. Zernich	04/22/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does the Yesway (YSWY) Form 3 filing for Kurt M. Zernich show?

The Form 3 shows initial ownership for General Counsel and Secretary Kurt M. Zernich, including 77,089 shares of Class B Common Stock and 77,089 LLC Interests exchangeable into Class A Common Stock, with no reported purchases or sales.

How many Yesway (YSWY) Class B shares does Kurt M. Zernich hold?

Kurt M. Zernich directly holds 77,089 shares of Class B Common Stock. These shares are tied to LLC Interests, and when an LLC Interest is exchanged into Class A Common Stock, a corresponding Class B share is cancelled under the described structure.

What are the LLC Interests reported in the Yesway (YSWY) Form 3?

The filing reports 77,089 LLC Interests in BW Ultimate Parent, LLC. Each LLC Interest may be redeemed on or after the Initial Public Offering closing for one share of Class A Common Stock, subject to stated exceptions, conditions and adjustments, with no expiration date.

Can the LLC Interests in Yesway (YSWY) be converted into Class A Common Stock?

Yes. Each LLC Interest may be redeemed 1-for-1 into Class A Common Stock on or after the Initial Public Offering closing, subject to exceptions, conditions and adjustments. When exchanged, an equal number of Class B Common Stock shares held are cancelled.

Does the Yesway (YSWY) Form 3 indicate any insider buying or selling activity?

No. The Form 3 reflects holdings only, with no buy or sell transactions reported. It lists 77,089 Class B Common Stock shares and 77,089 LLC Interests, serving as an initial ownership snapshot for the reporting officer.