Kaufman Kapital Reduces Stake in BranchOut Food Inc. to 11.0% and Implements 9.99% Ownership Blocker

Kaufman Kapital LLC and Daniel L. Kaufman filed Amendment No. 4 to their Schedule 13D for BranchOut Food Inc. (BOF) to report a reduction in beneficial ownership. On May 12, 2026, the filer sold 213,830 shares in the open market at a weighted average price of $3.26. This follows a sale of 255,951 shares on May 5, 2026. Consequently, their ownership percentage decreased from 33.4% to 11.0%, now totaling 1,689,676 shares. The filing also highlights a significant structural change: on May 14, 2026, the parties entered into a 'Blocker Amendment' to an existing Convertible Note, adding a 9.99% beneficial ownership limitation. Because the current equity holding exceeds this threshold, approximately 4.7 million shares underlying the note are currently excluded from the beneficial ownership calculation. Additionally, Kaufman Kapital provided a further $750,000 advance to the issuer on May 15, 2026, bringing the total principal of a non-convertible senior secured promissory note to $3,000,000 to support working capital requirements.