X0306 4 2019-11-26 0 0001021270 BBQ HOLDINGS, INC. BBQ 0001681743 Kanen David 12701 WHITEWATER DR STE 190 MINNETONKA MN 55343 1 0 1 0 0001681614 Kanen Wealth Management LLC 10141 SWEET BAY COURT PARKLAND FL 33076 0 0 0 1 Indirect 0001688522 Philotimo Fund, LP 5850 CORAL RIDGE DRIVE, SUITE 309 CORAL SPRINGS FL 33067 0 0 0 1 Indirect Common Stock 2019-11-26 4 S 0 57500 4.88 D 990582 I Kanen Wealth Management LLC Common Stock 83441 D Common Stock 295562 I The Philotimo Fund, LP KWM does not have a pecuniary interest in the shares of Common Stock held in customer accounts managed by KWM. The number reflected above excludes 83,441 shares held in Mr. Kanen's account as described in footnote 2 below. Mr. Kanen beneficially owns, pursuant to the beneficial ownership rules of Section 13(d) of the Securities Act of 1934, as amended, (the "Exchange Act"), 1,369,585 shares of Common Stock, which represents approximately 16% of the Issuer's outstanding shares of Common Stock. Pursuant to beneficial ownership rules, Mr. Kanen, as the managing member of KWM, may be deemed to beneficially own the 1,074,023 shares of Common Stock held in customer accounts managed by KWM (including the 83,441 shares held in Mr. Kanen's personal account) and the 295,562 shares of Common Stock held by the Philotimo Fund LLC, of which KWM is the general partner. Mr. Kanen expressly disclaims such beneficial ownership except to the extent of this pecuniary interest therein. Mr. Kanen does not have a pecuniary interest under Section 16 of the Exchange Act in the shares of Common Stock held in customer accounts managed by KWN other than the 83,441 shares held in Mr. Kanen's account. /s/David Kanen 2019-11-29