---
schema_version: "secwatch.filing_event.v1"
accession: "0001856437-25-000013"
form_type: "8-K"
ticker: "VSCO"
cik: "0001856437"
company_name: "Victoria's Secret & Co."
filed_at: "2025-05-20T23:59:59+00:00"
generated_at: "2026-05-21T00:28:32.386419+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Victoria's Secret adopts one-year poison pill after BBRC accumulates 13% stake

## Summary
- Rights plan triggers at 15% (20% for passive) ownership; expires May 18, 2026.
- BBRC International (Brett Blundy) holds ~13%; HSR corrective filing allows up to 49.99% after May 21, 2025.
- Board cites BBRC's history of acquiring control in retail and launch of competing lingerie brand.
- If triggered, other holders can buy shares at 50% discount; plan has no dead-hand provision.

## SEC filing metadata
- accession: 0001856437-25-000013
- form_type: 8-K
- ticker: VSCO
- cik: 0001856437
- company_name: Victoria's Secret & Co.
- filed_at: 2025-05-20T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1856437/000185643725000013/0001856437-25-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1856437/000185643725000013/vsco-20250519.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001856437-25-000013
- JSON: https://secwatch.observer/filing/0001856437-25-000013.json
- Plain text: https://secwatch.observer/filing/0001856437-25-000013.txt

## Key facts
- Governance Changes
  Victoria's Secret & Co.: Filed Certificate of Designations of Series A Preferred Stock with the Delaware Secretary of State in connection with the adoption of a Rights Agreement (effective 2025-05-20).
  - Change: charter amendment
  - Effective: 2025-05-20
  source text: In connection with the adoption of the Rights Agreement, on May 20, 2025, the Company filed a Certificate of Designations of Series A Preferred Stock with the Secretary of State of the State of Delaware.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856437/000185643725000013/0001856437-25-000013-index.htm

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