Beneficient insider adds 30.7K shares through equity grant

Rhea-AI Filing Summary

Beneficient (BENF) Form 4 shows Global Head of Organizations & Distribution Jeff Welday acquired 30,687 Class A shares on 21 Jul 2025 through an immediately-vesting restricted stock unit (RSU) grant made under the 2023 Equity Incentive Plan. The shares were issued at $0 cost and coded “A” (acquisition), indicating they were awarded, not purchased on the open market.

Following the settlement, Welday’s direct beneficial ownership rises to 172,394 shares. This total includes prior equity awards: 61,592 RSUs granted 14 Jan 2025, 28,320 RSUs granted 15 Jul 2023, multiple REU awards from 2018-2022, and a 1,670-share RSU grant dated 16 Jan 2025. No derivative securities or sales were reported.

The filing reflects routine executive compensation and signals increased insider alignment but only modest dilution to existing shareholders. Because no open-market buying or selling occurred, immediate trading impact is expected to be minimal.

Insights

Corporate Governance Analyst

TL;DR – Routine RSU vesting lifts insider stake to 172 k shares; negligible dilution; neutral market impact.

The Form 4 discloses a standard equity incentive grant rather than a cash purchase or sale. Awarding 30,687 shares—about 18% of Welday’s post-transaction holdings—strengthens management–shareholder alignment, a mild positive from a governance standpoint. However, because the shares were issued at no cost and fully vested on grant date, they incrementally expand the float and could be sold at any time. Without information on total shares outstanding, the dilution appears immaterial. No new options, warrants, or complex derivatives were recorded, and there is no indication of unusual compensation structures. Overall, the event is not materially impactful for valuation or near-term trading dynamics.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Welday Jeff

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	30,687	$0.00	--

Holdings After Transaction: Class A Common Stock — 172,394 shares (Direct)

Footnotes (1)

1. Includes 30,687 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 30,687 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan (the "2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on July 21, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant. Includes 61,592 shares of Class A common stock issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant. Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year. Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 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 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year. Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year. Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023. Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Form 4 Insider Transactions: What Each Field Means →

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).

1. Name and Address of Reporting Person^*

Welday Jeff

(Last) (First) (Middle)

325 N. SAINT PAUL STREET

SUITE 4850

(Street)

DALLAS TX 75201

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/21/2025

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

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

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

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	07/21/2025		A		30,687(1)	A	$0	172,394(2)(3)(4)(5)(6)(7)	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 30,687 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 30,687 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan (the "2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on July 21, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

2. Includes 61,592 shares of Class A common stock issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

3. Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

4. Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 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 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

5. Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

6. Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

7. Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Remarks:

Global Head of Organizations and Distribution

	/s/ David B. Rost Attorney-in-fact for Jeff Welday	07/23/2025
	** 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.

FAQ

What did Beneficient (BENF) disclose in the 21 Jul 2025 Form 4?

An RSU award granted to officer Jeff Welday resulted in 30,687 new Class A shares being issued.

How many BENF shares does Jeff Welday now own?

After the transaction, he beneficially owns 172,394 Class A shares.

Was there any cash paid for the shares acquired?

No. The shares were issued as part of a $0-cost RSU grant under the 2023 Equity Incentive Plan.

Does the filing report any share sales or option exercises?

No. The Form 4 lists only an acquisition; no sales or derivative exercises were reported.

Is the Form 4 likely to impact BENF’s stock price?

The event is routine executive compensation and is generally viewed as neutral for near-term price action.