---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-050296"
form_type: "8-K"
ticker: "CHWY"
cik: "0001766502"
company_name: "Chewy, Inc."
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T06:08:34.403696+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Chewy restructures BC Partners ownership; Class B-to-A conversion over 5 years

## Summary
- BC Partners' aggregate ownership, voting power, and economic value unchanged; no change in outstanding shares.
- Class B common stock must convert to Class A over 5 years: 85% threshold year 1, 70% year 2, 50% year 3, 30% year 4, fully by year 5.
- Director nomination rights accelerated: from 6 directors at ≥40% ownership to 0 at <5%.
- Standstill and change-of-control protections: BC Partners cannot acquire >1% of Class A without independent committee consent; must share control premium with all stockholders if ≥50% voting power.
- Transfer restrictions: BC Partners cannot sell >1/3 of shares in first 6 months, >2/3 in 12 months post-closing.

## SEC filing metadata
- accession: 0001140361-23-050296
- form_type: 8-K
- ticker: CHWY
- cik: 0001766502
- company_name: Chewy, Inc.
- filed_at: 2023-10-30T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1766502/000114036123050296/0001140361-23-050296-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1766502/000114036123050296/ny20013552x2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-050296
- JSON: https://secwatch.observer/filing/0001140361-23-050296.json
- Plain text: https://secwatch.observer/filing/0001140361-23-050296.txt

## Key facts
- Material Agreements
  Chewy, Inc. entered into Agreement and Plan of Merger with Chewy Kentucky Holding, LLC, Buddy Chester Sub Parent Holdco, Inc., Buddy Chester Sub LLC (effective 2023-10-30).
  - Action: entry
  - Agreement: merger
  - Counterparty: Chewy Kentucky Holding, LLC, Buddy Chester Sub Parent Holdco, Inc., Buddy Chester Sub LLC
  - Effective: 2023-10-30
  source text: The Transactions were effected pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), dated as of October 30, 2023, by and among the Company, Chewy Kentucky Holding, LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub”), Buddy Chester Sub Parent Holdco, Inc., a Delaware Corporation (“Buddy Holdco”), and, solely for the purposes of certain articles identified therein, Buddy Chester Sub LLC (“Buddy Chester”), a Delaware limited liability company controlled by affiliates of BC Partners.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1766502/000114036123050296/0001140361-23-050296-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.