[Form 4] Biofrontera Inc. Insider Trading Activity

Rhea-AI Filing Summary

George Patrick Jones, identified as Chief Commercial Officer and Director of Biofrontera Inc. (BFRI), was granted an employee stock option on 09/15/2025 to purchase 100,000 shares of common stock at a $1 exercise price. The option has an expiration date of 08/25/2035 and becomes exercisable in two equal vesting installments: February 25, 2026 and August 25, 2026. Following the reported transaction, Mr. Jones beneficially owns 100,000 option shares on a direct basis. The Form 4 was signed by an attorney-in-fact, Daniel Hakansson, on 09/16/2025.

Positive

• 100,000 option grant aligns executive incentives with shareholder value through equity compensation
• Clear vesting schedule with two equal installments provides transparency on exercisability timing
• Proper Form 4 reporting and attorney-in-fact signature indicate compliance with Section 16 filing requirements

Negative

• Potential dilution from 100,000 options exists, though the filing does not quantify dilution relative to outstanding shares
• No disclosure of board authorization or grant rationale is provided in the Form 4

Insights

Securities Analyst

TL;DR: Grant of 100,000 options at $1 strike increases insider alignment with shareholders; standard long-dated ten-year term.

The award represents a typical executive equity incentive: 100,000 options exercisable after two vesting events in 2026 with a ten-year contractual life to 08/25/2035 and a $1 exercise price. For investors, this is a compensation-related issuance rather than a sale, so it modestly increases potential future dilution but primarily aligns the officer’s interests with long-term share performance. The filing is routine, properly reported on Form 4 and executed by an attorney-in-fact.

Corporate Governance Expert

TL;DR: Option grant and staged vesting reflect standard governance practice for retention and performance alignment.

The structure—two equal vesting installments within one year and a ten-year expiration—indicates a retention-focused grant with relatively near-term vesting milestones. Disclosure shows direct beneficial ownership and proper use of Form 4 procedures, including attorney-in-fact signing. The filing contains the necessary mechanics but does not disclose grant authorization details or dilutive impact as a percentage of outstanding shares.

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

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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^*

Jones George Patrick

(Last) (First) (Middle)

120 PRESIDENTIAL WAY SUITE 330

(Street)

WOBURN, MA 01801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Biofrontera Inc. [ BFRI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

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

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
Employee stock option (right to buy)	$1	09/15/2025		A		100,000		(1)	08/25/2035	Common Stock	100,000	$0	100,000	D

Explanation of Responses:

1. The options vest in two equal installments, the first of which will be February 25, 2026 and the second of which will be on August 25, 2026.

	/s/ Daniel Hakansson, Attorney-in-fact for George Jones	09/16/2025
	** 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 Biofrontera (BFRI) report on Form 4 for George Patrick Jones?

The Form 4 reports an employee stock option grant of 100,000 shares at a $1 exercise price dated 09/15/2025.

When do the options granted to George Jones vest and expire?

The options vest in two equal installments on February 25, 2026 and August 25, 2026 and expire on 08/25/2035.

How many shares does George Jones beneficially own after the reported transaction?

Following the reported transaction, Mr. Jones beneficially owns 100,000 option shares on a direct basis.

Who filed the Form 4 on behalf of George Jones and when?

The Form 4 was signed by Daniel Hakansson, Attorney-in-fact for George Jones on 09/16/2025.

What is the exercise price for the options reported on the Form 4 (BFRI)?

The exercise (conversion) price reported for the employee stock option is $1 per share.