Approval of FIS Bright Portfolios Focused Equity ETF Reorganization

Rhea-AI Summary

FIS Bright Portfolios Focused Equity ETF (NYSE: BRIF) shareholders approved an Agreement and Plan of Reorganization to merge BRIF into FIS Trust, as authorized by the Fund's Board of Trustees.

The reorganization is expected to occur on or about February 23, 2026, based on relative net asset values and is expected to be a non-taxable event, subject to customary closing conditions.

Positive

• Shareholder approval obtained for reorganization
• Reorganization expected to be non-taxable
• Target completion date: on or about Feb 23, 2026

Negative

• Reorganization completion is subject to customary closing conditions
• Exchange occurs based on relative net asset values at the time, creating valuation timing risk

News Market Reaction – BRIF

-0.35%

1 alert

-0.35% News Effect

On the day this news was published, BRIF declined 0.35%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Reorganization completion date: On or about February 23, 2026 Investor relations phone: (833) 833-1311 Media contact phone: (480) 780-0104

3 metrics

Reorganization completion date On or about February 23, 2026 Expected closing date for BRIF reorganization into FIS Trust

Investor relations phone (833) 833-1311 Contact number to obtain the Fund’s prospectus

Media contact phone (480) 780-0104 Media contact for information about the Fund and reorganization

Market Reality Check

Price: $30.86 Vol: Volume 1,640 is 0.14x the...

low vol

$30.86 Last Close

Volume Volume 1,640 is 0.14x the 20-day average, indicating limited trading interest pre-news. low

Technical Price at $30.96 is trading above the 200-day MA of $28.92, near the 52-week high of $31.09.

Historical Context

2 past events · Latest: Jan 21 (Neutral)

Pattern 2 events

Date	Event	Sentiment	Move	Catalyst
Jan 21	Meeting adjournment	Neutral	+0.5%	Special shareholder meeting adjourned to allow more time for reorganization vote.
Dec 29	Meeting adjournment	Neutral	-0.5%	Special meeting adjourned; related fund’s reorganization into FIS Trust approved.

Pattern Detected

Recent governance-related announcements around the reorganization have produced small, mixed price reactions, suggesting modest sensitivity to these updates.

Recent Company History

Over the past few months, BRIF’s news flow has centered on governance steps toward reorganizing into FIS Trust. On Dec 29, 2025, the fund adjourned its special meeting to Jan 21, 2026, while a peer fund’s reorganization was approved, and BRIF’s price moved -0.52%. On Jan 21, 2026, BRIF again adjourned its meeting to Feb 19, 2026, with a modest +0.46% reaction. Today’s shareholder approval marks the culmination of that process.

Market Pulse Summary

This announcement confirms shareholder approval for BRIF’s reorganization into FIS Trust, with compl...

Analysis

This announcement confirms shareholder approval for BRIF’s reorganization into FIS Trust, with completion expected on or about February 23, 2026 and structured as a non-taxable event based on relative net asset values. It follows earlier adjournments of the special meeting as votes were gathered. Investors may focus on the final prospectus, any changes to investment objectives or expenses, and how the new structure aligns with their risk and return expectations.

Key Terms

net asset values, registration statement, proxy statement/prospectus, prospectus, +2 more

6 terms

net asset values financial

"would occur based on the relative net asset values of the Fund's shares"

Net asset values (NAV) measure how much each share of an investment fund is worth by subtracting what the fund owes from what it owns and dividing the remainder by the number of shares. Think of it like a household’s net worth split among family members. Investors use NAV to see a fund’s current value per share, to track performance over time, and as the price for buying or selling shares in many pooled investments.

registration statement regulatory

"will only be made by the final, effective registration statement, which includes"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

proxy statement/prospectus regulatory

"by reading the proxy statement/prospectus relating to the reorganization"

A proxy statement or prospectus is a document that companies send to shareholders to provide important information about upcoming decisions or investments, such as voting on company issues or offering new shares to the public. It helps investors understand the details and risks involved, enabling them to make informed choices about their ownership or involvement with the company.

prospectus regulatory

"To obtain the Fund's prospectus containing this and other important information"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

exchange traded funds (ETFs) financial

"expenses of exchange traded funds (ETFs) before investing"

A collection of stocks, bonds, or other assets packaged into a single product that trades on an exchange like a stock. Think of it as a ready-made shopping basket or playlist that lets investors own a slice of many investments at once, providing instant diversification, usually lower fees than actively managed funds, and the ability to buy or sell throughout the trading day. ETFs matter because they make it easy and cost-effective to gain broad or targeted market exposure without picking individual securities.

forward-looking statements regulatory

"are forward-looking statements as defined by the United States securities laws"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

AI-generated analysis. Not financial advice.

SCOTTSDALE, Ariz., Feb. 19, 2026 /PRNewswire/ -- FIS Bright Portfolios Focused Equity ETF (NYSE: BRIF) ("BRIF" or the "Fund") reconvened a special meeting of shareholders earlier today (the "Special Meeting"). At the Special Meeting, the Fund's shareholders were asked to approve an Agreement and Plan of Reorganization pursuant to which BRIF will be reorganized into FIS Trust, as approved by BRIF's Board of Trustees. The BRIF shareholders approved the reorganization of BRIF into FIS Trust, as approved by BRIF's Board of Trustees.

It is currently expected that the reorganization will be completed on or about February 23 2026, subject to the satisfaction of customary closing conditions. The reorganization, if completed, would occur based on the relative net asset values of the Fund's shares at the time of the reorganization. The reorganization is expected to be a non-taxable event.

Additional Information about the Fund and the Reorganization

This press release is not intended to, and does not, constitute an offer to purchase or sell shares of BRIF (the "Fund"); nor is this press release intended to solicit a proxy from any shareholder of the Fund. The solicitation of the purchase or sale of securities or proxies to effect the reorganization described herein will only be made by the final, effective registration statement, which includes the definitive proxy statement/prospectus declared effective by the U.S. Securities and Exchange Commission (the SEC).

The Fund and its trustees and officers, Faith Investor Services LLC and its officers and employees, and other persons may be deemed to be participants in the solicitation of proxies with respect to the reorganization described herein. Fund shareholders and other investors may obtain more detailed information regarding the direct and indirect interests of the Fund's trustees and officers, Faith Investor Services LLC and its officers and employees, and other persons by reading the proxy statement/prospectus relating to the reorganization.

Fund shareholders are urged to read the proxy statement/prospectus and any other relevant documents because they contain important information about the proposed reorganization. Copies of the proxy statement/prospectus are available on the SEC's website at www.sec.gov. 

The Fund's shares are subject to investment risk, including possible loss of principal invested. No fund is a complete investment program and you may lose money investing in the Fund. An investment in the Fund may not be appropriate for all investors. Additional information about the Fund, including performance and portfolio characteristic information, is available at www.faithinvestorservices.com.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors that are, in some cases, beyond the Fund's control and could cause actual results to differ materially from those set forth in the forward-looking statements.

ABOUT FAITH INVESTOR SERVICES LLC

Faith Investor Services LLC, located in Dallas, Texas, serves as investment adviser to FIS Bright Portfolios Focused Equity ETF.

Investors should carefully consider the investment objectives, risks, charges, and expenses of exchange traded funds (ETFs) before investing. To obtain the Fund's prospectus containing this and other important information, please call (833) 833-1311, or visit www.faithinvestorservices.com. Please read the prospectus carefully before you invest.

Investor Contact: info@fisetfs.com

Fund shares are distributed by Foreside Fund Services, LLC.

Media Contact: Steven T. Nelson, CFA, snelson@faithinvestorservices.com or (480) 780-0104

View original content to download multimedia:https://www.prnewswire.com/news-releases/approval-of-fis-bright-portfolios-focused-equity-etf-reorganization-302692921.html

SOURCE Faith Investor Services, LLC

FAQ

What did BRIF (NYSE: BRIF) shareholders approve on February 19, 2026?

Shareholders approved a plan to reorganize BRIF into FIS Trust, effective upon closing. According to the company, the vote authorized an Agreement and Plan of Reorganization approved by the Fund's Board of Trustees.

When is the BRIF reorganization expected to be completed and is it taxable?

The reorganization is expected to close on or about February 23, 2026 and is expected to be non-taxable. According to the company, completion remains subject to customary closing conditions and final processing.

How will BRIF shares be exchanged during the reorganization (NYSE: BRIF)?

Shares will be exchanged based on the relative net asset values of the funds at the time of reorganization. According to the company, the exchange ratio will reflect NAVs when the reorganization is completed.

Are BRIF shareholders required to take action after the February 19, 2026 vote?

No immediate action is required if shareholders approved the plan; the reorganization proceeds at closing. According to the company, final details and any required actions will be disclosed in the definitive proxy statement/prospectus.

Where can investors find the proxy statement and more details about BRIF (BRIF) reorganization?

Investors can obtain the definitive proxy statement/prospectus on the SEC website or the adviser’s site. According to the company, the documents contain important information about interests, risks, and the solicitation process.