BRC Inc.
For the period ended Jun 30, 2026. Filed Aug 3, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 3, 2026
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Equity-Based Compensation
- Equity-Based Compensation
Stock Options
The following table summarizes information about stock options activities for the six months ended June 30, 2026 and 2025:
| Stock Options | Weighted Average Exercise Price | |
|---|---|---|
| Outstanding as of January 1, 2026 | 8,684,387 | $2.82 |
| Forfeited | (205,613) | 3.15 |
| Outstanding as of June 30, 2026 | 8,478,774 | $2.81 |
| Vested and exercisable as of June 30, 2026 | 1,823,350 | $2.63 |
| Outstanding as of January 1, 2025 | 5,424,411 | $4.41 |
| Granted | 3,760,948 | 2.16 |
| Forfeited | (1,189,691) | 3.44 |
| Outstanding as of June 30, 2025 | 7,995,668 | $3.49 |
| Vested and exercisable as of June 30, 2025 | 1,029,129 | $4.55 |
The total unrecognized equity compensation expense related to stock options to be recognized was $3,945 and $8,255, respectively, over a weighted average period of approximatelyone year andtwo years, as of June 30, 2026 and 2025, respectively.
Restricted Stock Units
The following table summarizes information about the restricted stock units ("RSUs") under the 2022 Omnibus Incentive Plan (the "Omnibus Plan") for the six months ended June 30, 2026 and 2025:
| Restricted Stock Units | Weighted Average Grant Date Fair Value | |
|---|---|---|
| Outstanding as of January 1, 2026 | 4,629,764 | $2.23 |
| Granted | 4,988,429 | 0.89 |
| Forfeited | (435,953) | 1.57 |
| Vested | (1,754,732) | 2.30 |
| Outstanding as of June 30, 2026 | 7,427,508 | $1.34 |
| Outstanding as of January 1, 2025 | 2,232,952 | $4.51 |
| Granted | 3,808,610 | 1.98 |
| Forfeited | (867,187) | 3.12 |
| Vested | (715,258) | 5.12 |
| Outstanding as of June 30, 2025 | 4,459,117 | $2.52 |
The total unrecognized equity compensation expense related to RSUs to be recognized was $7,799 and $9,195, respectively, over a weighted average period of approximatelytwo years, as of June 30, 2026 and 2025.
Performance-Based Restricted Stock Units
In addition to the performance-based restricted stock units ("PSUs") granted to a key employee in 2022, beginning in the first quarter of 2026, we granted PSUs to employees under the Omnibus Plan. These grants vest three years from the grant date, to the extent that the performance metric is achieved during the predetermined performance period. The performance metric utilized for these grants is based on our total shareholder return, as defined in the respective grant agreement. The payout percentage for these PSUs granted ranges from 0% to 200%, and each PSU is equal toone share of our Class A Common Stock.
The grant date estimated fair values of PSUs issued in 2026 were based upon a Monte Carlo Simulation as of the grant date, which considered our stock price as of the grant date and utilized the following assumptions:
| Expected dividend | $— |
|---|---|
| Expected volatility | 73.77% |
| Risk-free interest rate | 3.49% |
The following table summarizes information about the PSUs granted in 2026 under the Omnibus Plan for the six months ended June 30, 2026:
| PSUs | Weighted Average Grant Date Fair Value | |
|---|---|---|
| Outstanding as of January 1, 2026 | — | $— |
| Granted | 2,386,165 | 1.25 |
| Forfeited | (113,402) | 1.22 |
| Outstanding as of June 30, 2026 | 2,272,763 | $1.25 |
Additionally, there were 8,462,412 PSUs outstanding related to the key employee grant as of both June 30, 2026 and 2025, with a weighted average grant date fair value of $0.46. The total unrecognized equity-based compensation expense related to all PSUs to be recognized was $2,735 and $628, respectively, over a weighted average period of approximatelyone year andtwo years, as of June 30, 2026 and 2025, respectively.
Employee Stock Purchase Plan
On March 8, 2026, we issued 82,787 shares for a total of $55 during the six-month offering period from September 9, 2025 through March 8, 2026.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.