[Form 4] Fortress Biotech, Inc. Insider Trading Activity

Rhea-AI Filing Summary

David Jin, Chief Financial Officer of Fortress Biotech, Inc. (FBIO), reported an acquisition of 2,711 common shares on 10/01/2025 under the company's Employee Stock Purchase Plan at a price of $1.309 per share. The filing states the purchase was exempt under Rule 16b-3(c) and 16b-3(d). After the transaction, Mr. Jin beneficially owns 1,248,604 shares, which the filer says include 1,230,000 shares underlying deferred restricted stock units. The Form 4 is signed and dated 10/02/2025.

Positive

• Acquisition of 2,711 shares at $1.309 under the Employee Stock Purchase Plan
• Disclosure of total beneficial ownership showing 1,248,604 shares, improving transparency

Negative

• Large portion of holdings (1,230,000 shares) are deferred restricted stock units, limiting immediate free-float
• The purchase size (2,711 shares) is relatively small compared with total holdings (1,248,604 shares)

Insights

Insider Transactions Analyst

Small ESPP purchase; large beneficial stake largely in deferred RSUs.

The transaction shows a routine acquisition of 2,711 shares at $1.309 under the issuer's Employee Stock Purchase Plan, exempt under Rule 16b-3. Such purchases by officers are common compensation liquidity events rather than open-market signals.

Post-transaction holdings of 1,248,604 shares are substantial in absolute terms, but the filing clarifies that 1,230,000 of those are deferred restricted stock units, indicating that most economic exposure is tied to prior compensation awards rather than newly purchased 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

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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^*

Jin David

(Last) (First) (Middle)

C/O FORTRESS BIOTECH, INC.

1111 KANE CONCOURSE SUITE 301

(Street)

BAY HARBOR ISLANDS FL 33154

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Fortress Biotech, Inc. [ FBIO ]

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)
10/01/2025

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, par value $0.001	10/01/2025		A	V	2,711(1)	A	$1.309	1,248,604(2)	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. The reporting person is voluntarily reporting an acquisition of shares under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

2. Total holdings include 1,230,000 shares underlying deferred restricted stock units.

	/s/ David Jin	10/02/2025
	** 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 Fortress Biotech (FBIO) insider David Jin report on Form 4?

He reported an acquisition of 2,711 common shares on 10/01/2025 at $1.309 per share under the company's Employee Stock Purchase Plan.

How many Fortress Biotech shares does David Jin beneficially own after the transaction?

The Form 4 reports total beneficial ownership of 1,248,604 shares following the reported transaction.

Do David Jin's holdings include restricted stock units?

Yes. The filing states that total holdings include 1,230,000 shares underlying deferred restricted stock units.

Was the purchase subject to Rule 16b-3 reporting exemptions?

Yes. The acquisition was reported as exempt under both Rule 16b-3(c) and Rule 16b-3(d).

When was the Form 4 signed and filed?

The Form 4 is signed by David Jin and dated 10/02/2025.