FA Form 4: President's RSUs Vest, Shares Sold Under 10b5-1 at $15.70 Avg

Rhea-AI Filing Summary

Joelle M. Smith, President and officer of First Advantage Corp (FA), reported multiple transactions on 09/16/2025 and 09/17/2025. On 09/16/2025 she was credited with 16,497 restricted stock units (RSUs) that vest beginning 09/16/2025 and will settle in shares, cash, or a combination. That same day 6,597 shares were withheld to cover tax obligations related to RSU vesting, leaving her with 52,627 shares beneficially owned. On 09/17/2025 she sold 9,900 shares under a Rule 10b5-1 plan at a weighted average price of $15.7038, reducing her holdings to 42,727 shares. The Form 4 was signed by an attorney-in-fact on 09/18/2025.

Positive

• RSU grant and vesting disclosed, showing compensation alignment with service (16,497 RSUs vesting beginning 09/16/2025).
• Use of a Rule 10b5-1 plan (adopted 02/28/2025) for sales indicates pre-planned, rule-compliant disposition of shares.
• Tax withholding executed via share withholding (6,597 shares) to satisfy obligations associated with RSU vesting.

Negative

• Net reduction in beneficial ownership from 59,224 to 42,727 shares following withholding and sales.
• Sale price concentration shows shares sold at prices between $15.450 and $15.850 with weighted average $15.7038, which may be below prior higher price points if any exist (price context not provided).

Insights

Securities Analyst

TL;DR: Officer received vested RSUs, used shares for tax withholding, and executed planned sales under a 10b5-1 program, modestly reducing ownership.

The filing shows nondiscretionary compensation settlement and routine tax withholding rather than an open-market sale driven by unexpected events. The sale under a pre-established Rule 10b5-1 plan suggests the transaction was pre-planned and not necessarily a signal of changed company outlook. The weighted average sale price of $15.7038 and the size of the sale (9,900 shares) lowered beneficial ownership to 42,727 shares; the remaining holdings include shares expected from RSU settlement options.

Corporate Governance Expert

TL;DR: Compensation-related vesting and tax withholding predominated; governance appears compliant with disclosure norms.

The Form 4 discloses RSU vesting mechanics and tax-withholding shares, plus sales executed via a Rule 10b5-1 plan adopted 02/28/2025. Documentation of withholding and the plan date enhances transparency. No changes in officer status or indications of accelerated or extraordinary transactions are reported. This is a routine insider reporting of compensation settlement and planned disposition.

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
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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^*

Smith Joelle M

(Last) (First) (Middle)

C/O FIRST ADVANTAGE CORPORATION

1 CONCOURSE PARKWAY NE, SUITE 200

(Street)

ATLANTA GA 30328

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FIRST ADVANTAGE CORP [ FA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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
Common Stock	09/16/2025		M		16,497	A	(1)	59,224	D
Common Stock	09/16/2025		F(2)		6,597	D	$15.6	52,627	D
Common Stock	09/17/2025		S(3)		9,900	D	$15.7038(4)	42,727	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	(1)	09/16/2025		M			16,497	(5)	(5)	Common Stock	16,497	$0	49,494	D

Explanation of Responses:

1. Each restricted stock unit (RSU) represents a contingent right to receive one share of common stock. The RSUs will be settled in either common stock or cash (or a combination thereof).

2. Represents shares withheld in connection with the vesting of RSUs to cover tax withholding obligations.

3. Shares were sold pursuant to a Rule 10b5-1 trading plan that was adopted by the reporting person on February 28, 2025.

4. Represents the weighted average price for sales of the shares. The shares were sold at prices ranging from $15.450 to $15.850 per share. The reporting person will provide to the Securities and Exchange Commission staff, the Issuer, or any security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price.

5. Represents RSUs originally granted on September 16, 2024, which vest in four equal installments, beginning on September 16, 2025, subject to continued service through such dates.

	/s/ Bret T. Jardine, Attorney-in-Fact	09/18/2025
	** 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 First Advantage (FA) insider Joelle M. Smith report on Form 4?

The filing shows 16,497 RSUs granted/credited on 09/16/2025, 6,597 shares withheld for taxes, and a 9,900-share sale on 09/17/2025 under a Rule 10b5-1 plan.

How many shares does Joelle M. Smith beneficially own after these transactions?

After the reported transactions, she beneficially owns 42,727 shares.

At what price were the shares sold and how were sale prices reported?

The shares sold on 09/17/2025 had a weighted average price of $15.7038, with individual sale prices ranging from $15.450 to $15.850.

Were the sales discretionary or part of a pre-established plan?

The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 02/28/2025.

What are the settlement terms for the RSUs?

Each RSU represents a contingent right to one share and will be settled in common stock, cash, or a combination.