Shay Capital LLC 4

What Happened
Shay Capital LLC, reported as a 10% owner of Tilly's, Inc. (TLYS), sold 1,025,000 shares of common stock on March 12, 2026. The shares were disposed at $2.55 each for a total reported proceeds of $2,616,005. This was a sale (S), not a purchase — commonly a liquidity or portfolio-management event rather than a bullish insider buy.

Key Details

• Transaction date: 2026-03-12; Price: $2.55 per share; Shares sold: 1,025,000; Total proceeds: $2,616,005.
• Transaction type: Sale (code S), reported as an open market or private sale.
• Form filed: 2026-03-16 (reporting period 2026-03-12) — the report was filed four days after the reported transaction.
• Shares owned after transaction: not specified in this filing.
• Footnote: Shay Capital Holdings LLC, as sole manager of Shay Capital LLC, "may be deemed to beneficially own" the reported shares; otherwise it reports no other beneficial ownership in the issuer.

Context
This filing concerns a large shareholder/institutional owner (10% owner), not an executive officer. Such institutional sales are often portfolio adjustments and don't necessarily signal management sentiment. The filing shows a straightforward sale of existing shares — no option exercise, award, or gift involved.