FBRT president granted 66,841 RSUs, shares withheld for tax

Franklin BSP Realty Trust's president, Michael Comparato, reported equity compensation and related tax withholding transactions in company common stock.

Rhea-AI Filing Summary

Franklin BSP Realty Trust's president, Michael Comparato, reported equity compensation and related tax withholding transactions in company common stock. He received 66,841 RSUs at $0 cost under the 2021 Equity Incentive Plan, which will vest in three equal annual installments beginning on January 27, 2027, assuming continued qualifying service.

To cover tax obligations from earlier RSU vesting awards dated January 27, 2023, February 1, 2024 and January 27, 2025, 28,584 shares were withheld at a price of $10.17 per share. After these transactions, Comparato directly beneficially owned 509,871 shares of Franklin BSP Realty Trust common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Comparato Michael

Role President

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	66,841	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	28,584	$10.17	$291K

Holdings After Transaction: Common Stock — 509,871 shares (Direct)

Footnotes (2)

1. F1. Represents RSUs granted to the reporting person pursuant to the Issuer's 2021 Equity Incentive Plan. The RSUs will vest in three equal annual installments beginning on January 27, 2027, subject to the reporting person's continued qualifying service. One share of the Issuer's common stock will be issued for each RSU upon vesting.
2. F2. Represents shares of common stock withheld to satisfy tax withholding obligations incident to the vesting of restricted stock units ("RSUs") awarded to the reporting person on January 27, 2023, February 1, 2024 and January 27, 2025.

FAQ

What insider transactions did FBRT President Michael Comparato report on this Form 4?

Michael Comparato reported two transactions in FBRT common stock: a grant of 66,841 restricted stock units at no cost and a withholding of 28,584 shares at $10.17 per share to satisfy tax obligations from prior RSU vesting.

How many FBRT shares does Michael Comparato own after the reported Form 4 transactions?

After the reported transactions, Michael Comparato directly beneficially owned 509,871 shares of Franklin BSP Realty Trust common stock. This total reflects both the new RSU grant and the shares withheld to cover tax obligations associated with previously granted RSUs that vested.

What are the terms of the 66,841 RSUs granted to FBRT’s president?

The 66,841 RSUs were granted under Franklin BSP Realty Trust’s 2021 Equity Incentive Plan. They will vest in three equal annual installments starting January 27, 2027, contingent on Comparato’s continued qualifying service, with one common share issued for each RSU upon vesting.

Why were 28,584 FBRT shares withheld in Michael Comparato’s Form 4 filing?

The 28,584 FBRT shares were withheld to satisfy tax withholding obligations arising from the vesting of restricted stock units awarded on January 27, 2023, February 1, 2024 and January 27, 2025. The withholding price reported for these shares was $10.17 per share.

On what date did the FBRT insider transactions reported by Michael Comparato occur?

Both reported transactions occurred on January 27, 2026. On that date, Michael Comparato received 66,841 restricted stock units at no cost and had 28,584 common shares withheld at $10.17 per share to cover tax obligations tied to prior RSU awards.

Under which plan were the RSUs granted to FBRT President Michael Comparato?

The restricted stock units were granted pursuant to Franklin BSP Realty Trust’s 2021 Equity Incentive Plan. This plan provides equity-based awards, and for this grant each RSU will convert into one share of common stock upon vesting in three annual installments beginning January 27, 2027.

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Accepted by SEC EDGAR 01/28/2026 - 05:00 PM Learn about SEC filing dates

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^*

Comparato Michael

(Last) (First) (Middle)

1345 AVENUE OF THE AMERICAS,

SUITE 32A

(Street)

NEW YORK NY 10105

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Franklin BSP Realty Trust, Inc. [ FBRT ]

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)
01/27/2026

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	01/27/2026		A(1)		66,841	A	$0	538,455	D
Common Stock	01/27/2026		F(2)		28,584	D	$10.17	509,871	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. Represents RSUs granted to the reporting person pursuant to the Issuer's 2021 Equity Incentive Plan. The RSUs will vest in three equal annual installments beginning on January 27, 2027, subject to the reporting person's continued qualifying service. One share of the Issuer's common stock will be issued for each RSU upon vesting.

2. Represents shares of common stock withheld to satisfy tax withholding obligations incident to the vesting of restricted stock units ("RSUs") awarded to the reporting person on January 27, 2023, February 1, 2024 and January 27, 2025.

	/s/ Michael Comparato, By: Micah Goodman, Attorney-in-Fact*	01/28/2026
	** 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.