Beneficient (symbol: BENF) is the issuer of record for a Form 4 filing submitted to the SEC. Hicks Mack H. reported acquisition or exercise transactions in this Form 4 filing.
Beneficient (BENF) director and 10 percent owner Mack Hicks received an award of 26,828 restricted stock units under the Beneficient 2023 Equity Incentive Plan on September 18, 2026. The award fully vested on the grant date and relates to 26,828 Class A common shares issuable upon settlement; the transaction row reports 26,828 shares following the transaction. Hicks Holdings Operating, LLC is also identified as a 10 percent owner. Indirect holding entries name Hicks Holdings Operating, LLC and HH-BDH, LLC; Mack Hicks has power to vote and direct disposition of those entity-held shares, while disclaiming beneficial ownership except to the extent of his pecuniary interest.
Beneficient (symbol: BENF) is the issuer of record for a Form 4 filing submitted to the SEC. CANGANY PETER T JR reported acquisition or exercise transactions in this Form 4 filing.
Peter T. Cangany, Jr., a Beneficient director, reported awards of 32,960 and 247,642 Class A common shares issuable upon settlement of restricted stock units on September 18, 2026; both awards fully vested on the grant date. The 247,642-RSU award was granted in satisfaction of prior service compensation for January 1, 2025, through March 31, 2026. As of September 18, 2026, Cangany Capital Management, LLC directly held 40,625 shares and The Cangany Group, LLC directly held 12,500 shares. Cangany disclaims beneficial ownership of those entity-held shares except to the extent of his pecuniary interest.
Beneficient (BENF) reported that it plans to launch AltLens, an alternative asset portfolio analytics and risk platform for family offices and small institutional investors, in the fourth quarter of calendar year 2026. AltLens is designed to organize and analyze alternative asset portfolios, measuring exposures, allocations versus targets and limits, portfolio risk, concentration, and stress-test results using historical private-market data.
The platform maps positions by asset class, strategy, geography, and sector, and from quarterly historical private-market returns is designed to calculate volatility, beta, value-at-risk, correlation, and concentration metrics. AltLens will also offer historical and hypothetical stress-testing scenarios and deliver results through dashboards and exportable reports, complementing customers’ existing accounting and administration systems.
Beneficient (BENF) director and Chief Fiduciary Officer Derek L. Fletcher purchased 4,717 shares of Class A common stock on September 15, 2026 at $1.06 per share in an open-market or private transaction. Following this purchase and including shares underlying equity awards, he directly holds 5,336 shares of Class A common stock. No Rule 10b5-1 trading plan is reported.
Beneficient (BENF) director Peter T. Cangany, Jr. purchased 18,868 shares of Class A Common Stock on September 15, 2026 at $1.06 per share in a direct open-market or private transaction. Following this purchase, he directly holds 98,529 shares, including shares issuable upon settlement of RSU and REU awards under the company’s 2018 and 2023 equity incentive plans, and also has additional indirect holdings through entities he controls, for which beneficial ownership is partially disclaimed.
Beneficient (BENF) reported that Chief Executive Officer James G. Silk purchased 9,434 shares of Class A common stock in an open-market transaction on September 15, 2026 at $1.06 per share, held directly. Following this purchase, he directly owns 1,110,930 shares of Class A common stock, including shares issuable upon settlement of previously granted restricted equity units and restricted stock units. No Rule 10b5-1 trading plan is reported.
Beneficient (BENF) reported an insider-led private purchase of its Class A common stock. On September 15, 2026, the company entered into subscription agreements under which Peter T. Cangany, Jr. bought 18,868 shares, Derek L. Fletcher bought 4,717 shares, and CEO James G. Silk bought 9,434 shares of Class A common stock at $1.06 per share.
The shares were issued in an unregistered transaction relying on Section 4(a)(2) of the Securities Act and Regulation D. Each purchaser represented that he is an accredited investor and acquired the shares for investment purposes, not for distribution.
Beneficient filed results for the quarter ended June 30, 2026, showing a small net loss attributable to common shareholders of $6.8 million (basic and diluted loss per share $0.47), a substantial improvement from a $65.1 million loss a year earlier. Total revenues turned positive to $12.2 million, driven mainly by investment income on alternative assets held in consolidated Customer ExAlt Trusts.
Total assets were $250.9 million, including $212.5 million of investments and $5.6 million of cash, against total liabilities of $344.5 million, redeemable noncontrolling interests of $90.5 million, and a shareholders’ equity deficit of $184.1 million. Related-party debt totaled $96.8 million, excluding $33.2 million of accrued interest. Management discloses substantial doubt about the company’s ability to continue as a going concern due to limited liquidity, sizeable related-party borrowings, and an arbitration award of about $69.7 million including interest.
The company notes prior and ongoing Nasdaq listing pressures that led to an 80-for-1 reverse stock split in 2024 and a further 8-for-1 reverse split in 2025, with all historical share data retroactively adjusted. To improve liquidity, Beneficient relies on a reduced but extended $100 million Amended & Restated Standby Equity Purchase Agreement with Yorkville, under which up to 32,467,532 Class A shares are registered for potential sale, which the company states will dilute existing holders. The filing also highlights events of default alleged under a major related-party loan, a confirmed arbitration award, extensive use of variable interest entities, and a long list of business, legal, control, and market risks.
Beneficient reported fiscal first quarter 2027 results for the period ended June 30, 2026, showing a sharp improvement in performance. GAAP revenues were $12.2 million, compared with a loss of $(12.6) million a year earlier, and GAAP operating loss narrowed to $0.4 million from $(92.6) million. Adjusted operating income was $5.7 million, versus an adjusted loss of $(25.4) million in the prior-year quarter, as cost actions and reduced loss contingencies took effect.
Operating expenses fell 84.3% to $12.5 million, or $10.8 million excluding loss contingency effects. Net loss attributable to common shareholders improved to $(6.8) million, with basic and diluted Class A EPS of $(0.47). Investments at fair value rose to $212.5 million, supporting a net ExAlt loan portfolio of $186.0 million, while cash and cash equivalents were $5.6 million and debt due to related parties was $96.8 million. Ben Liquidity generated $7.4 million of segment operating income and Ben Custody $1.4 million, and the company closed more than $16 million in new primary capital commitments and issued $4 million of promissory notes for working capital.
Beneficient entered into an amended and restated Standby Equity Purchase Agreement with YA II PN, Ltd. that allows sales of up to $100.0 million of Class A common stock and includes a $4.0 million convertible promissory note facility. Under this facility, the company issued two Promissory Notes of $2.0 million principal each, at a 5% original issue discount, yielding approximately $1.8 million gross proceeds per note, funded on July 1 and August 5, 2026.
The notes bear 5.0% annual interest, maturing on June 30, 2027, with the rate increasing up to 18.0% upon certain defaults. They are convertible into Class A common stock at the lower of $5.6064 or 92.0% of the lowest daily VWAP over five trading days, with a variable component floor of $0.89 per share, subject to an Exchange Cap. Assuming 5% interest to maturity, the maximum number of shares issuable upon conversion is 4,719,101, and no holder may convert to exceed 4.99% beneficial ownership.