Franklin BSP Realty Trust (FBRT) director gets 12,835-share equity grant

Rhea-AI Filing Summary

Augustine Patsy Joseph reported acquisition or exercise transactions in this Form 4 filing.

Franklin BSP Realty Trust director Patsy Joseph Augustine received a grant of 12,835 restricted shares of common stock as equity compensation. The award was issued at no cash cost under the company’s 2021 Equity Incentive Plan and increases the director’s direct holdings to 49,062 shares.

The restricted shares will vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027. This structure ties the director’s compensation to the company’s long-term performance and continued board service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Augustine Patsy Joseph

Role null

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

Holdings After Transaction: Common Stock — 49,062 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted shares granted: 12,835 shares Shares after transaction: 49,062 shares Transaction code: A +2 more

5 metrics

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

Shares after transaction 49,062 shares Director’s direct holdings following grant

Transaction code A Grant, award, or other acquisition

Grant price per share $0.00 per share Equity compensation, no cash paid

Vesting deadline June 8, 2027 Or earlier at 2027 Annual Meeting of Stockholders

Key Terms

Restricted shares, 2021 Equity Incentive Plan, Annual Meeting of Stockholders, Form 4

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 regulatory

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

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Augustine Patsy Joseph

(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	49,062	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/ Pat Augustine, 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)

FAQ

What did FBRT director Patsy Joseph Augustine report in this Form 4?

Patsy Joseph Augustine reported receiving 12,835 restricted shares of Franklin BSP Realty Trust common stock. The award is a stock grant under the 2021 Equity Incentive Plan, issued at no cash cost and subject to future vesting conditions tied to service through 2027.

How many Franklin BSP Realty Trust (FBRT) shares does the director hold after this grant?

After the grant, the director holds 49,062 shares of Franklin BSP Realty Trust common stock. This total reflects directly owned shares following the 12,835-share restricted stock award reported in the Form 4 insider transaction filing for the June 8, 2026 grant date.

What are the vesting terms of the FBRT restricted shares granted to the director?

The restricted shares vest on the earlier of the company’s 2027 Annual Meeting of Stockholders or June 8, 2027. Until vesting, the award remains restricted under the 2021 Equity Incentive Plan, aligning compensation with ongoing board service and long-term company performance.

Was the FBRT insider transaction an open-market purchase or a compensation grant?

The transaction was a compensation-related grant, not an open-market purchase. The Form 4 lists transaction code “A” for grant, award, or other acquisition, with a price per share of zero, indicating an equity incentive award under the 2021 Equity Incentive Plan.

Which plan governed the restricted stock grant reported by FBRT’s director?

The restricted stock grant was issued under Franklin BSP Realty Trust’s 2021 Equity Incentive Plan. The footnote specifies that the 12,835 restricted shares of common stock are plan-based awards, with vesting scheduled around the 2027 Annual Meeting or June 8, 2027.