Krispy Kreme, Inc. — Director's Dealing 2025

Apr 25, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Krispy Kreme, Inc. (DNUT)
CIK: 0001857154
Period of Report: 2025-04-23

Reporting Person: JAB Indulgence B.V. (10% Owner)
Reporting Person: JAB Holdings B.V. (10% Owner)
Reporting Person: JAB Investments S.a r.l. (10% Owner)
Reporting Person: JAB Holding Co s.a r.l. (10% Owner)
Reporting Person: Joh. A. Benckiser s.a.r.l. (10% Owner)
Reporting Person: Agnaten SE (10% Owner)
Reporting Person: Lucresca SE (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-04-23	Common Stock, par value $0.01 per share	S	694445	$4.32	Disposed	74190990	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-04-23	Option (obligation to sell)	$4.32	J	1	Disposed		Common Stock (4166670)	Direct
2025-04-23	Restricted Stock Units (obligation to sell)	$	J	173612	Disposed		Common Stock (173612)	Direct

Footnotes

F1: On April 23, 2025, JAB Indulgence B.V. ("JAB Indulgence") agreed to sell 694,445 shares (the "Shares") of common stock, par value $0.01 per share (the "Common Stock"), of Krispy Kreme, Inc. (the "Company") in a privately negotiated transaction.

F2: On April 23, 2025, JAB Indulgence agreed to grant an option to purchase 4,166,670 Shares currently held by JAB Indulgence (the "Matching Option") to an individual in a privately negotiated transaction. The Matching Option (or a portion thereof) will vest on the fifth anniversary of the grant date, subject to certain terms and conditions to be included in an award agreement between JAB Indulgence and such individual.

F3: On April 23, 2025, JAB Indulgence agreed to grant to a one-time incentive award in the form of restricted stock units with respect to 173,612 Shares (the "RSUs") to an individual in a privately negotiated transaction. The RSUs represent a contingent right to receive one Share for each RSU. The RSUs will vest on the fifth anniversary of the grant date, subject to certain terms and conditions to be included in an award agreement between JAB Indulgence and such individual.

F4: These Shares are held and beneficially owned by JAB Indulgence, a direct or indirect subsidiary of each other Reporting Person herein. As such, each other Reporting Person herein may be deemed a beneficial owner of Shares held by JAB Indulgence. Each such Reporting Person disclaims beneficial ownership of such Shares, except to the extent of its pecuniary interests therein.

F5: This Matching Option and these RSUs, as applicable, are granted by JAB Indulgence with respect to Shares held and beneficially owned by JAB Indulgence, a direct or indirect subsidiary of each other Reporting Person herein. As such, each other Reporting Person herein may be deemed a beneficial owner of Shares held by JAB Indulgence. Each such Reporting Person disclaims beneficial ownership of such Shares, except to the extent of its pecuniary interests therein.