Biofrontera Inc. (BFRI) CFO granted RSUs, options and stock conversion

Rhea-AI Filing Summary

Biofrontera Inc. Chief Financial Officer Eugene Frederick Leffler reported equity compensation activity, mainly awards and a derivative conversion. On March 4, 2026, he received 62,500 restricted stock units and 62,500 employee stock options, both granted for no cash consideration.

On March 5, 2026, 87,500 restricted stock units were converted into 87,500 shares of common stock at a price of $0.00 per share, leaving him with 175,000 common shares held directly after the transaction.

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^*

Leffler Eugene Frederick

(Last) (First) (Middle)

660 MAIN STREET

FIRST FLOOR

(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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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
Common Stock	03/05/2026		M		87,500	A	(1)	175,000	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
Restricted Stock Units	(2)	03/04/2026		A		62,500		(3)	(3)	Common Stock	62,500	$0	62,500(6)	D
Employee stock option (right to buy)	$0.9	03/04/2026		A		62,500		(4)	03/04/2036	Common Stock	62,500	$0	62,500(7)	D
Restricted Stock Units	(1)	03/05/2026		M			87,500	(5)	(5)	Common Stock	87,500	$0	0(6)	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Each restricted stock unit represents a contingent right to receive one share of BFRI common stock, subject to the company's discretion to settle the restricted stock units, in whole or in part, in cash, as discussed below in footnote 3. The reporting person received the restricted stock units as an award for no consideration.

3. The restricted stock units vest in two equal yearly installments for the first two years following the grant date, beginning on March 4, 2027. Each vested restricted stock unit will be settled, at the Company's discretion, in shares, cash or a combination of shares and cash within 60 days of the vesting date.

4. The option vests in two equal installments, the first of which will take place on September 4, 2026 and the second of which will take place on March 4, 2027.

5. On July 12, 2024 the reporting person was granted 175,000 restricted stock units, vesting in two equal semi-annual installments with the first tranche vesting on January 12, 2025 and the second tranche on July 12, 2025, with each to be settled, at the Company's discretion, in shares, cash or a combination of shares and cash within 60 days of the vesting date. A Form 4 filed by the reporting person on September 16, 2025 incorrectly identified the vesting schedule for these restricted stock units as being "two equal annual installments beginning on July 12, 2025." Relatedly, due to an administrative error, the first tranche was settled on September 10, 2025 and the second tranche was settled on March 5, 2026.

6. Restricted stock units with different terms are not included.

7. Options with different terms are not included

	/s/ Daniel Hakansson, Attorney-in-fact for Eugene Frederick Leffler III	03/06/2026
	** 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.

FAQ

What did Biofrontera (BFRI) CFO Eugene Frederick Leffler report in this Form 4?

The CFO reported equity compensation activity, including grants and a conversion. He received restricted stock units and stock options, and restricted stock units converted into common shares at no cash cost, increasing his directly held common stock position to 175,000 shares.

How many Biofrontera (BFRI) common shares does the CFO hold after these transactions?

After the reported transactions, the CFO directly holds 175,000 shares of Biofrontera common stock. This reflects the conversion of restricted stock units into common shares and is separate from any additional derivative awards such as unexercised options or unvested restricted stock units.

What equity awards did the Biofrontera (BFRI) CFO receive on March 4, 2026?

On March 4, 2026, the CFO was granted 62,500 restricted stock units and 62,500 employee stock options, each at a price of $0.00 per unit. These awards were received for no cash consideration as part of his compensation package from the company.

What happened to the Biofrontera (BFRI) restricted stock units on March 5, 2026?

On March 5, 2026, 87,500 restricted stock units were converted into 87,500 shares of Biofrontera common stock at $0.00 per share. This derivative exercise increased the CFO’s directly held common stock while reducing the corresponding restricted stock unit balance.

How do Biofrontera (BFRI) restricted stock units convert into common stock?

Each restricted stock unit converts into one share of Biofrontera common stock on a one-for-one basis. The company may choose to settle vested units in shares, cash, or a mix of both, typically within a specified period after vesting, according to the award terms.

What are the vesting terms for the Biofrontera (BFRI) CFO’s new restricted stock units and options?

The newly granted restricted stock units vest in two equal yearly installments over two years beginning March 4, 2027. The related stock options vest in two equal installments, on September 4, 2026 and March 4, 2027, aligning vesting with multi-year service and performance expectations.