[SCHEDULE 13G] Black Rock Coffee Bar, Inc. Passive Investment Disclosure (>5%)

Rhea-AI Filing Summary

Black Rock Coffee Bar, Inc. disclosure: Brandon J. Olson reports beneficial ownership of 4,320,385 shares of Class A Common Stock, representing 19.8% of the class. The filing states this figure reflects conversion of LLC units into Class A shares and assumes total Class A outstanding of 21,798,837 (which combines 17,478,452 outstanding as of March 1, 2026 and 4,320,385 issuable upon conversion). The filing describes Mr. Olson as investment advisor/manager to entities holding the LLC units and disclaims direct beneficial ownership except to the extent of his pecuniary interest.

Insights

Corporate Governance Analyst

Large reported stake tied to convertible LLC units and advisory/manager roles.

Mr. Olson is reported to have voting and dispositive power over 4,320,385 Class A-equivalent shares through roles as investment advisor to the Spellmeyer Irrevocable Trusts and manager of Vahalda Fuel, LLC. The filing states he disclaims beneficial ownership except for pecuniary interest.

The position is framed as convertible LLC Units that holders may redeem for one-for-one Class A shares; the percentage assumes conversion and a total of 21,798,837 Class A shares outstanding as of March 1, 2026. Future changes depend on holder elections and any issuer determinations described in the disclosure.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Black Rock Coffee Bar, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

092244102

(CUSIP Number)

02/25/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 092244102

1

Names of Reporting Persons

Brandon J. Olson

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 4,320,385.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 4,320,385.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,320,385.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

19.8 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Amount in rows 5 and 7 consists of (a) 658,314 membership units ("LLC Units") of Black Rock Coffee Holdings, LLC ("Black Rock OpCo") held by the Jacob V. Spellmeyer 2021 Trust, (b) 757,376 LLC Units held by the Juliet A. Spellmeyer 2021 Trust (together with the Jacob V. Spellmeyer 2021 Trust, the "Spellmeyer Irrevocable Trusts") and (c) 2,904,695 LLC Units held by Vahalda Fuel, LLC. Mr. Olson serves as the investment advisor for the Spellmeyer Irrevocable Trusts and as the manager of Vahalda Fuel, LLC. As investment advisor of the Spellmeyer Irrevocable Trusts and manager of Vahalda Fuel, LLC, Mr. Olson may be deemed to hold voting and investment power with respect to the shares held by the Spellmeyer Irrevocable Trusts and Vahalda Fuel, LLC. Mr. Olson disclaims beneficial ownership of the shares held by the Spellmeyer Irrevocable Trusts and Vahalda Fuel, LLC except to the extent of his pecuniary interest therein. Holders of LLC Units may elect to have Black Rock OpCo redeem their LLC Units for either shares of Class A Common Stock on a one-for-one basis or, at the Black Rock Coffee Bar, Inc.'s (the "Issuer") election (determined solely by the Issuer's independent directors who are disinterested), to effect such transaction as a direct exchange with the relevant holder. Upon any such redemption or exchange of LLC Units, the corresponding shares of Class C Common Stock will be cancelled. The total outstanding shares of Class A Common Stock used in calculating the percent of class assumes the conversion of all of the Reporting Person's LLC Units into Class A Common Stock, resulting in a total of 21,798,837 shares of Class A Common Stock outstanding (which reflects the sum of (i) 17,478,452 shares of Class A Common Stock outstanding as of March 1, 2026 and (ii) 4,320,385 shares of Class A Common Stock issuable upon conversion of the Reporting Person's LLC Units).

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Black Rock Coffee Bar, Inc.
(b)	Address of issuer's principal executive offices: c/o Black Rock Coffee Bar, Inc. 9170 E. Bahia Drive, Suite 101, Scottsdale, AZ 85260
Item 2.
(a)	Name of person filing: Brandon J. Olson
(b)	Address or principal business office or, if none, residence: c/o Black Rock Coffee Bar, Inc. 9170 E. Bahia Drive, Suite 101, Scottsdale, AZ 85260
(c)	Citizenship: X1
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP Number(s): 092244102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4,320,385
(b)	Percent of class: 19.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 4,320,385
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 4,320,385
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Brandon J. Olson

Signature:	/s/ Brandon J. Olson
Name/Title:	Brandon J. Olson
Date:	03/26/2026