Franklin BSP director granted 12,835 restricted shares

ORTALE BUFORD H reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

ORTALE BUFORD H reported acquisition or exercise transactions in this Form 4 filing.

Franklin BSP Realty Trust director Buford H. Ortale received a grant of 12,835 shares of Common Stock as a stock award. The shares are restricted and were issued under the company’s 2021 Equity Incentive Plan at a stated price of $0.00 per share.

The restricted shares vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027. After this award, Ortale holds 64,686 Common Stock shares directly. Separately, 3,000 shares are held indirectly by Sewanee Vero LLC, a family trust where Ortale’s spouse is trustee, and Ortale disclaims beneficial ownership of those indirect shares.

Insider Trade Summary

Grant/Award: 12,835 shares

Grant/Award 2 txns

Insider ORTALE BUFORD H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	12,835	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 64,686 shares (Direct); Common Stock — 3,000 shares (Indirect, By Trust)

Footnotes (2)

1. F1. Restricted shares of common stock issued pursuant to the issuer's 2021 Equity Incentive Plan. Restricted shares vest on the earlier of (i) the date of the issuer's 2027 Annual Meeting of Stockholders and (ii) June 8, 2027.
2. F2. Represents shares held by Sewanee Vero LLC, a family trust of which the reporting person's spouse is trustee. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Key Figures

Restricted share grant: 12,835 shares Direct holdings after award: 64,686 shares Indirect trust holdings: 3,000 shares +2 more

5 metrics

Restricted share grant 12,835 shares Common Stock award with $0.00 per share grant price

Direct holdings after award 64,686 shares Common Stock directly held by director after grant

Indirect trust holdings 3,000 shares Held by Sewanee Vero LLC family trust, beneficial ownership disclaimed

Vesting date trigger 2027 Annual Meeting / June 8, 2027 Restricted shares vest on the earlier of these dates

Grant price per share $0.00 per share Stated grant price for restricted Common Stock

Key Terms

Restricted shares, 2021 Equity Incentive Plan, family trust, beneficial ownership, +1 more

5 terms

Restricted shares financial

"Restricted shares of common stock issued pursuant to the issuer's 2021 Equity Incentive Plan."

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

2021 Equity Incentive Plan financial

"Restricted shares of common stock issued pursuant to the issuer's 2021 Equity Incentive Plan."

family trust financial

"Represents shares held by Sewanee Vero LLC, a family trust of which the reporting person's spouse is trustee."

beneficial ownership financial

"The reporting person disclaims beneficial ownership of these securities."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Section 16 regulatory

"Not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16."

Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did FBRT director Buford H. Ortale report in this Form 4 filing?

Buford H. Ortale reported receiving 12,835 restricted shares of Franklin BSP Realty Trust Common Stock as a stock award. The filing also updates his direct holdings to 64,686 shares and shows an additional 3,000 shares held indirectly through a family trust.

How many Franklin BSP Realty Trust (FBRT) shares did the director receive?

The director received 12,835 restricted shares of Franklin BSP Realty Trust Common Stock. These shares were granted with a stated price of $0.00 per share as part of equity compensation, increasing his directly held position to 64,686 shares after the transaction.

When do the newly granted FBRT restricted shares vest for the director?

The 12,835 restricted shares vest on the earlier of Franklin BSP Realty Trust’s 2027 Annual Meeting of Stockholders or June 8, 2027. This time-based vesting schedule ties the award’s final ownership to continued service through that future date.

How many FBRT shares does Buford H. Ortale hold after this award?

After the award, Buford H. Ortale directly holds 64,686 shares of Franklin BSP Realty Trust Common Stock. The Form 4 also reports 3,000 additional shares held indirectly through Sewanee Vero LLC, a family trust associated with his spouse, with Ortale disclaiming beneficial ownership.

What is Sewanee Vero LLC’s role in the FBRT Form 4 filing?

Sewanee Vero LLC holds 3,000 Franklin BSP Realty Trust shares as a family trust in which the director’s spouse is trustee. The filing explains that Ortale disclaims beneficial ownership of these securities, clarifying that they are reported as indirect holdings associated with the trust.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/10/2026 - 08:34 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^*

ORTALE BUFORD H

(Last) (First) (Middle)

C/O FRANKLIN BSP REALTY TRUST, INC.

ONE MADISON AVENUE, SUITE 1600

(Street)

NEW YORK NEW YORK 10010

(City) (State) (Zip)

UNITED STATES

(Country)

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/08/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/08/2026		A		12,835(1)	A	$0	64,686	D
Common Stock								3,000	I	By Trust(2)

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. Restricted shares of common stock issued pursuant to the issuer's 2021 Equity Incentive Plan. Restricted shares vest on the earlier of (i) the date of the issuer's 2027 Annual Meeting of Stockholders and (ii) June 8, 2027.

2. Represents shares held by Sewanee Vero LLC, a family trust of which the reporting person's spouse is trustee. The reporting person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

	/s/ Buford H. Ortale, By: Michael McTiernan, Attorney-in-Fact	06/10/2026
	** 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.
* Form 4: SEC 1474 (03-26)