Beneficient director receives three RSU stock awards

A Beneficient director received 188,679 RSUs for prior service compensation covering January 1, 2025, through March 31, 2026.

Rhea-AI Filing Summary

Beneficient (symbol: BENF) is the issuer of record for a Form 4 filing submitted to the SEC. Schnitzer Bruce William reported acquisition or exercise transactions in this Form 4 filing.

Beneficient director Bruce W. Schnitzer received three awards of Class A common stock issuable upon settlement of RSUs on September 18, 2026: 176,887 shares, 29,894 shares and 188,679 shares. All three awards fully vested on the grant date. The 188,679-RSU award was granted in satisfaction of prior service compensation for January 1, 2025, through March 31, 2026. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 395,460 shares

Grant/Award 3 txns

Insider Schnitzer Bruce William

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock F1, F2, F3, F4	176,887	$0.00	$0.00
Grant/Award	Class A Common Stock F5, F2, F3, F4	29,894	$0.00	$0.00
Grant/Award	Class A Common Stock F6, F2, F3, F4	188,679	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 513,553 shares (Direct)

Footnotes (6)

1. F1. Includes 176,887 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 176,887 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Bruce W. Schnitzer (the "Reporting Person") on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.
2. F2. Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.
3. F3. Includes 224 shares of Class A common stock issuable upon the settlement of an award of 14,375 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 11, 2018. Such award of REUs to the Reporting Person vested 25% on the date of grant, and the remaining 75% in three equal annual installments on April 25th of each subsequent calendar year.
4. F4. Includes 23 shares of Class A common stock issuable upon settlement of an award of 1,500 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.
5. F5. Includes 29,894 shares of Class A common stock issuable upon the settlement of an award of 29,894 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.
6. F6. Includes 188,679 shares of Class A common stock issuable upon settlement of an award of 188,679 RSUs granted to the Reporting Person on September 18, 2026 pursuant to the 2023 Equity Incentive Plan. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Key Figures

Shares issuable under RSU award: 176,887 shares Shares issuable under RSU award: 29,894 shares Shares issuable under RSU award: 188,679 shares

3 metrics

Shares issuable under RSU award 176,887 shares Award granted September 18, 2026

Shares issuable under RSU award 29,894 shares Award granted September 18, 2026

Shares issuable under RSU award 188,679 shares Award granted September 18, 2026, in satisfaction of prior service compensation for January 1, 2025, through March 31, 2026

Key Terms

restricted stock units ("RSUs"), restricted equity units ("REUs"), Beneficient 2023 Equity Incentive Plan

3 terms

restricted stock units ("RSUs") technical

"award of 176,887 restricted stock units ("RSUs")"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

restricted equity units ("REUs") technical

"award of 14,375 restricted equity units ("REUs")"

Beneficient 2023 Equity Incentive Plan technical

"pursuant to the Beneficient 2023 Equity Incentive Plan"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What awards did Beneficient (BENF) director Bruce W. Schnitzer receive?

He received awards for 176,887, 29,894 and 188,679 shares of Class A common stock issuable upon settlement of RSUs on September 18, 2026.

Did the Beneficient (BENF) RSU awards vest immediately?

Yes. All three RSU awards reported for September 18, 2026, fully vested on the grant date.

What was the 188,679-RSU Beneficient (BENF) award for?

The 188,679-RSU award was granted in satisfaction of Bruce W. Schnitzer's prior service compensation for January 1, 2025, through March 31, 2026.

Were the Beneficient (BENF) awards reported under a Rule 10b5-1 plan?

No Rule 10b5-1 plan is reported for the transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/22/2026 - 09:55 PM Accepted by SEC EDGAR 09/22/2026 - 09:54 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schnitzer Bruce William

(Last) (First) (Middle)

325 N. SAINT PAUL STREET, SUITE 4850

(Street)

DALLAS TEXAS 75201

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Beneficient [ BENF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/18/2026		A		176,887(1)	A	$0	294,980(2)(3)(4)	D
Class A Common Stock	09/18/2026		A		29,894(5)	A	$0	324,874(2)(3)(4)	D
Class A Common Stock	09/18/2026		A		188,679(6)	A	$0	513,553(2)(3)(4)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 176,887 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 176,887 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Bruce W. Schnitzer (the "Reporting Person") on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

2. Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

3. Includes 224 shares of Class A common stock issuable upon the settlement of an award of 14,375 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 11, 2018. Such award of REUs to the Reporting Person vested 25% on the date of grant, and the remaining 75% in three equal annual installments on April 25th of each subsequent calendar year.

4. Includes 23 shares of Class A common stock issuable upon settlement of an award of 1,500 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

5. Includes 29,894 shares of Class A common stock issuable upon the settlement of an award of 29,894 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

6. Includes 188,679 shares of Class A common stock issuable upon settlement of an award of 188,679 RSUs granted to the Reporting Person on September 18, 2026 pursuant to the 2023 Equity Incentive Plan. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

	/s/ David B. Rost Attorney-in-fact for Bruce W. Schnitzer	09/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)