Franklin BSP director granted 12,835 restricted shares

Tuppeny Elizabeth K. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Tuppeny Elizabeth K. reported acquisition or exercise transactions in this Form 4 filing.

Franklin BSP Realty Trust director Elizabeth K. Tuppeny received a grant of 12,835 shares of Common Stock. The shares were awarded at a price of $0.00 per share under the company’s 2021 Equity Incentive Plan and increase her direct holdings to 62,742 shares.

The shares are restricted and will vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027, aligning the director’s compensation with the company’s longer-term performance.

Insider Trade Summary

Grant/Award: 12,835 shares

Grant/Award 1 txn

Insider Tuppeny Elizabeth K.

Role Director

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

Holdings After Transaction: Common Stock — 62,742 shares (Direct)

Footnotes (1)

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.

Key Figures

Restricted shares granted: 12,835 shares Grant price: $0.00 per share Shares owned after grant: 62,742 shares +1 more

4 metrics

Restricted shares granted 12,835 shares Grant of Common Stock on June 8, 2026

Grant price $0.00 per share Award under 2021 Equity Incentive Plan

Shares owned after grant 62,742 shares Total direct Common Stock holdings post-transaction

Vesting date (earlier of) 2027 Annual Meeting / June 8, 2027 Restricted shares vesting condition

Key Terms

Restricted shares, 2021 Equity Incentive Plan, Annual Meeting of Stockholders, Grant, award, or other acquisition

4 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."

Annual Meeting of Stockholders financial

"Restricted shares vest on the earlier of (i) the date of the issuer's 2027 Annual Meeting of Stockholders and (ii) June 8, 2027."

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

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

What did Franklin BSP Realty Trust (FBRT) disclose about Elizabeth K. Tuppeny?

Franklin BSP Realty Trust disclosed that director Elizabeth K. Tuppeny received 12,835 restricted shares of Common Stock. These shares were granted at $0.00 per share and increase her direct ownership position in the company to 62,742 Common Stock shares following the transaction.

How many FBRT shares were granted to Elizabeth K. Tuppeny in this Form 4?

The Form 4 shows a grant of 12,835 shares of Franklin BSP Realty Trust Common Stock. The award is classified as a grant or award acquisition and is part of the company’s equity compensation, bringing her total direct holdings to 62,742 shares after the transaction.

When do Elizabeth K. Tuppeny’s restricted FBRT shares vest?

The restricted shares vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027. This time-based vesting schedule ties the director’s compensation to a multi-year service period and the company’s long-term governance cycle.

Under which plan were Elizabeth K. Tuppeny’s FBRT shares granted?

The restricted shares were issued under Franklin BSP Realty Trust’s 2021 Equity Incentive Plan. This plan provides stock-based awards to align participants’ interests with shareholders and, in this case, granted 12,835 restricted shares of Common Stock to a board director.

Is Elizabeth K. Tuppeny’s FBRT transaction a market purchase or a grant?

The transaction is a grant or award acquisition, not a market purchase. The filing lists transaction code “A” and a price per share of $0.00, indicating compensation-related restricted stock issued directly by Franklin BSP Realty Trust to the director.

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

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Accepted by SEC EDGAR 06/10/2026 - 08:33 PM EDT 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^*

Tuppeny Elizabeth K.

(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	62,742	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. 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.

	/s/ Elizabeth K. Tuppeny, 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)