REGIS CORP — Director's Dealing 2014

Oct 30, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REGIS CORP (RGS)
CIK: 0000716643
Period of Report: 2014-10-28

Reporting Person: Beltzman Daniel Gordon (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-10-28	Common Stock	A	5457	—	Acquired	17535.81	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1538941	Indirect
Common Stock	5033581	Indirect
Common Stock	3962648	Indirect

Footnotes

F1: The Reporting Person was awarded a grant of 5,457 restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of RGS common stock.

F2: These securities are held directly by Birch Run Capital Partners, L.P., Walnut BRC, L.P. and Torch BRC, L.P. (collectvely, "the Funds"). As of the date of this filing: Birch Run Capital Partners, L.P. is the record owner of 1,538,941 shares; Walnut BRC, L.P. is the record owner of 5,033,581 shares; and Torch BRC, L.P. is the record owner of 3,962,648 shares.

F3: Birch Run Capital GP, LLC serves as the General Partner to Birch Run Capital Partners, L.P. Walnut BRC GP, LLC serves as the General Partner to Walnut BRC, L.P. Torch BRC GP, LLC serves as the General Partner to Torch BRC, L.P. (collectively, "the General Partners"). Daniel Beltzman and Gregory Smith are the co-Managers of the General Partners. As owners of the General Partners to the Funds, Messrs. Beltzman and Smith may share in an allocation of the profits of the Funds.

F4: Birch Run Capital Advisors, LP (the "Adviser") serves as the Investment Adviser to the Funds. In connection with the services provided by the Adviser, the Adviser receives an asset-based management fee that does not confer any pecuniary interest in the securities held by the Funds. BRC Advisors GP, LLC ("Adviser GP") is the General Partner to the Adviser. Daniel Beltzman and Gregory Smith are the Limited Partners of the Adviser and the Co-Managers of the Adviser GP. The Adviser, the Adviser GP, Daniel Beltzman and Gregory Smith may be deemed to share voting and dispositive power over the reported securities.

F5: Each of the Adviser, the Adviser GP, Daniel Beltzman, and Gregory Smith 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 each of the Adviser, the Adviser GP, Daniel Beltzman or Gregory Smith is the beneficial owner of such interests for purposes of Section 16 or any other purpose.