{"url_path":"/sec/nrom/10-k/2026/item-12","section_key":"item-12","section_title":"Item 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND****MANAGEMENT AND RELATED STOCKHOLDER MATTERS**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-08","source_url":"https://www.sec.gov/Archives/edgar/data/709005/0001654954-26-005747-index.html","accession_number":"0001654954-26-005747","cik":"0000709005","ticker":"NROM","issuer_name":"NOBLE ROMANS INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/709005/0001654954-26-005747-index.html","primary_entity_key":"0000709005","primary_entity_name":"NOBLE ROMANS INC"},"word_count":870,"has_tables":true,"body_markdown":"**ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND****MANAGEMENT AND RELATED STOCKHOLDER MATTERS**\n\n \n\nAs of March 1, 2026, there were 22,215,512 shares of the Company’s Common Stock outstanding. The following table sets forth the amount and percentage of the Company’s Common Stock beneficially owned on March 1, 2026, including shares that may be acquired by the exercise of options, by: (A) each director and named executive officer individually; (B) each beneficial owner of more than 5% of the Company’s outstanding Common Stock known to the Company; and (C) all executive officers and directors as a group.\n\n \n\nName of Beneficial Owner\n\n \n\nNumber of Shares\n\nBeneficially Owned (1)\n\n \n\n \n\nPercent of\n\nCommon Stock (2)\n\n \n\nCorbel Capital Partners SBIC, L.P.\n\n \n\n \n2,468,362(3)\n \n\n \n9.9999%\n\nPaul W. Mobley\n\n \n\n \n3,852,702(4)\n \n\n \n16.0\n \n\nA. Scott Mobley\n\n \n\n \n2,114,578(5)\n \n\n \n9.1\n \n\nDouglas H. Coape-Arnold\n\n \n\n \n390,000(6)\n \n\n \n1.7\n \n\nJeffrey Roberts\n\n \n\n \n65,000(7)\n \n\n \n-\n \n\nTroy Branson\n\n \n\n \n487,500(8)\n \n\n \n2.2\n \n\nBT Brands, Inc. and Gary Copperud\n\n \n\n \n1,437,184(9)\n \n\n \n6.1\n \n\nAll executive officers and directors as a group (5) persons\n\n \n\n \n6,909,780\n \n\n \n\n \n26.5%\n\n \n\n \n\n28\n\n*Table of Contents*\n\n \n\n \n\n(1)\n\nAll shares owned directly with sole investment and voting power, unless otherwise noted.\n\n \n\n \n\n \n\n \n\n(2)\n\nThe percentage calculations are based upon 22,215,512 shares of the Company’s Common Stock issued and outstanding as of the most recent practicable date and, for each officer, director or significant holder of the group, the number of shares subject to options, warrants or conversion rights exercisable within 60 days of March 1, 2026.\n\n \n\n \n\n \n\n \n\n(3)\n\nAccording to the information provided to the Company in an amendment to Schedule 13G, filed with the Securities and Exchange Commission (the “SEC”) on February 9, 2026, Corbel Capital Partners, SBIC L.P. and affiliates beneficially own, by exercising all of their outstanding warrants, up to 5,000,000 shares of the outstanding shares of common stock. However, on December 31, 2025 the number of shares beneficially owned by exercising all of their outstanding warrants would be 5,000,000 shares. However, Corbel agreed that only warrants for up to 9.99999% of the outstanding shares of common stock are exercisable (the “Warrant Blocker”). The beneficial ownership listed above takes into account the Warrant Blocker meaning all of their warrants cannot be exercised. The Schedule 13G, as amended, states that the reporting persons have shared voting power and shared dispositive power for all such shares. The reporting persons’ address is 11777 San Vicente Blvd., Suite 777, Los Angeles, California 90049.\n\n \n\n \n\n \n\n \n\n(4)\n\nThe total includes 956,667 shares of Common Stock subject to options granted under a stock option plan, 600,000 shares issuable upon conversion of convertible notes and warrants to purchase 450,000 shares. Mr. Mobley’s address is 6612 E. 75th Street, Suite 450, Indianapolis, Indiana 46250.\n\n \n\n \n\n \n\n \n\n(5)\n\nThe total includes 1,121,667 shares of Common Stock subject to options granted under a stock option plan. Mr. Mobley’s address is 6612 E. 75th Street, Suite 450, Indianapolis, Indiana 46250.\n\n \n\n \n\n \n\n \n\n(6)\n\nThe total includes 370,000 shares of Common Stock subject to options granted under a stock option plan. Mr. Coape-Arnold’s address is 6612 E. 75th Street, Suite 450, Indianapolis, Indiana 46250.\n\n \n\n \n\n \n\n \n\n(7)\n\nThe total includes 65,000 shares of Common Stock subject to options granted under a stock option plan. Mr. Roberts’ address is 6612 E. 75th Street, Suite 450, Indianapolis, Indiana 46250.\n\n \n\n \n\n \n\n \n\n(8)\n\nThe total includes 457,500 shares of Common Stock subject to options granted under a stock option plan. Mr. Branson’s address is 6612 E. 75th Street, Suite 450, Indianapolis, Indiana 46250.\n\n \n\n \n\n \n\n \n\n(9)\n\nAccording to information provided to the Company in an amendment to Schedule 13D filed with SEC on February 23, 2023, the total includes 176,031 shares for which Mr. Copperud states he has sole voting power and sole dispositive power and 1,261,153 shares for which BT Brands, Inc. states it has sole voting power and sole dispositive power. The reporting person’s address is 405 West Main Avenue, Suite 2D, West Fargo, North Dakota 58078.\n\n    \n\n \n\n29\n\n*Table of Contents*\n\n \n\nThe following table provides information as of December 31, 2025 with respect to the shares of the Company’s Common Stock that may be issued under its existing equity compensation plan.\n\n \n\n**Plan Category**\n\n \n\n**Number of Securities to be issued upon exercise of outstanding options, warrants and rights**\n\n**(a)**\n\n \n\n \n\n**Weighted-average exercise price of outstanding options, warrants and rights**\n\n**(b)**\n\n \n\n \n\n**Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))**\n\n**(c)**\n\n \n\nEquity compensation plans approved by stockholders\n\n \n\n \n-\n \n\n \n$-\n \n\n \n\n \n-\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nEquity compensation plans not approved by stockholders\n\n \n\n \n3,973,834\n \n\n \n$.38\n \n\n \n\n \n(1)\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nTotal\n\n \n\n \n3,973,834\n \n\n \n$.38\n \n\n \n\n \n(1)\n\n \n\n(1)\n\nThe Company may grant additional options under the employee stock option plan. There is no maximum number of shares available for issuance under the employee stock option plan.\n\n \n\nThe Company maintains an employee stock option plan for its employees, officers and directors. Any employee, officer and director of the Company is eligible to be awarded options under the plan. The employee stock option plan provides that any options issued pursuant to the plan will generally have a three-year vesting period and will expire ten years after the date of grant. Awards under the plan are periodically made at the recommendation of the Executive Chairman and the Chief Executive Officer and authorized by the Board of Directors. The employee stock option plan does not limit the number of shares that may be issued under the plan."}