SCHEDULE: Advantage Solutions Inc. Shareholder Update

Karman Topco L.P. reports a distribution of 190,324 shares of Class A Common Stock, reducing its beneficial ownership to 52.6%.

Summary

• Karman Topco L.P. has filed an amendment to its Schedule 13D, reporting a distribution of 190,324 shares of Advantage Solutions Inc. Class A Common Stock.
• This distribution was made to certain limited partners in exchange for the cancellation of their interests in Karman Topco L.P.
• Following this distribution, Karman Topco L.P. now beneficially owns 6,998,347 shares, representing 52.6% of the outstanding Class A Common Stock.
• The percentage is based on 13,295,280 shares outstanding as of May 5, 2026, reflecting a previous 1-for-25 reverse stock split.
• No transactions with respect to the Common Stock have been effected by the Reporting Person or Related Persons in the past 60 days, other than the described distribution.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral. While it reports a significant share distribution, the reporting entity retains a controlling stake, and no new negative information or strategic shifts are disclosed.

Positives

• Karman Topco L.P. continues to hold a significant majority stake (52.6%) in Advantage Solutions Inc., indicating continued strong investor conviction.
• The distribution of shares to limited partners may represent a partial realization of investment for those partners.

Negatives

• A reduction in beneficial ownership, even through a distribution, could be interpreted as a signal of reduced long-term commitment by the reporting entity, although the majority stake remains.
• The distribution reduces the direct control or influence Karman Topco L.P. can exert through its shareholding, albeit marginally given the large remaining stake.

Risks

• The filing does not explicitly mention any new risks. However, any significant shareholder's reduction in stake, even a partial distribution, can sometimes be perceived negatively by the market.
• The ongoing business operations and strategic direction of Advantage Solutions Inc. remain subject to market conditions and competitive pressures, which are not detailed in this specific filing.

Future Outlook

This filing is an amendment to a Schedule 13D and primarily reports a past transaction (share distribution). It does not contain specific forward-looking statements or guidance from Advantage Solutions Inc. regarding future performance or strategy.

Industry Context

StockSavvy.ai notes that Schedule 13D filings are crucial for tracking significant ownership changes and potential shifts in control or investment strategy by major shareholders. This particular amendment indicates a distribution event by a large shareholder, Karman Topco L.P., which is common in private equity or investment fund structures as investments mature or capital is returned to investors.

Related Party Transactions

• Distribution of 190,324 shares of Common Stock by Karman Topco L.P. to certain of its limited partners in exchange for cancellation of their interests.

Stakeholder Impact

• Shareholders: The distribution may lead to a slight increase in the free float of Advantage Solutions Inc. stock, potentially impacting liquidity. The continued majority ownership by Karman Topco L.P. suggests stability in the controlling shareholder's position.
• Limited Partners of Karman Topco L.P.: These partners have received shares of Advantage Solutions Inc. stock, potentially allowing them to realize value or manage their investment directly.
• Management of Advantage Solutions Inc.: The company's management will continue to operate under the significant influence of Karman Topco L.P., its largest shareholder.

Next Steps

• Monitor future filings by Karman Topco L.P. for any further changes in beneficial ownership.
• Observe any potential strategic implications for Advantage Solutions Inc. resulting from the distribution of shares to limited partners.

Key Dates

Keywords

Schedule 13D, Advantage Solutions Inc., Karman Topco L.P., Class A Common Stock, Beneficial Ownership, Share Distribution, SEC Filing, Shareholder, Investment Management