REGIS CORP — Director's Dealing 2012

May 17, 2012

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: REGIS CORP (RGS)
CIK: 0000716643
Period of Report: 2012-05-15

Reporting Person: Birch Run Capital, LLC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.05 par value per share	689785	Indirect
Common Stock, $0.05 par value per share	1778656	Indirect
Common Stock, $0.05 par value per share	3498756	Indirect

Footnotes

F1: These securities are owned directly by Birch Run Capital Partners, L.P., Torch BRC, L.P. and Walnut BRC, L.P. (collectively, "the Funds"). Birch Run Capital Partners, L.P. is the record owner of 689,785 shares. Torch BRC, L.P. is the record owner of 1,778,656 shares. Walnut BRC, L.P. is the record owner of 3,498,756 shares.

F2: The Reporting Person serves as the registered investment adviser to the Funds. Birch Run Capital GP, LLC serves as General Partner to Birch Run Capital Partners, L.P. Walnut BRC GP, LLC serves as General Partner to Walnut BRC, L.P. Torch BRC GP, LLC serves as General Partner to Torch BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the co-Managing Members of Birch Run Capital, LLC and the General Partners. The Reporting Person, the Funds, Daniel Beltzman, Gregory Smith and the General Partners may be deemed to share voting and dispositive power over the reported securities.

F3: Each of the Reporting Person, the Funds, Daniel Beltzman, Gregory Smith and the General Partners disclaim beneficial ownership of any interests of the reported securities in excess of such person's or entity's respective pecuniary interest in the securities. This report shall not be deemed an admission that the Reporting Person, the Funds, Daniel Beltzman, Gregory Smith or each the General Partners is the beneficial owner of such interests for purposes of Section 16 or any other purpose.