FAT Brands subsidiary debt of $158.9M accelerated; director James Ellis resigns

Fat Brands, Inc

FB Resid Holdings received acceleration notice for $158.9M principal ($110M net) plus ~$9.9M accrued interest.
FB Resid cannot pay; acceleration may lead to bankruptcy proceedings for FB Resid and/or FAT Brands.
Notes secured by 44.6M shares of Twin Hospitality Group (22.5% voting control); UMB may now vote/sell those shares.
James Ellis resigned as director of FAT Brands and Twin Hospitality effective Nov 25, 2025, citing personal reasons.
Default previously disclosed on Nov 3, 2025; acceleration triggers immediate repayment demand.

item 2.04 item 5.02

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