Finance of America (NYSE: FOA) logs Blackstone-led insider share repurchase at $10
Rhea-AI Filing Summary
Finance of America Companies Inc. (FOA) reported insider transactions involving Blackstone-affiliated entities on a Form 4. On 12/04/2025, the issuer repurchased Class A common stock and related LLC units from entities including Urban Holdings LLC, BFTO LP and Urban Holdings II LP at $10 per share under an Amended and Restated Repurchase Agreement dated November 13, 2025.
The transactions included sales of Class A common stock and exchanges of LLC units of Finance of America Equity Capital LLC that are convertible into Class A common stock on a one-for-one basis, with exchange rights that do not expire. The reporting persons are described as directors and 10% owners, and several Blackstone funds and related entities are listed as indirect holders and controlling parties.
Positive
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Negative
- None.
Insights
Large affiliated holder sells common and LLC units back to issuer under a repurchase agreement at a fixed price, modestly reshaping the ownership base.
The filing reports that entities affiliated with Blackstone, including Urban Holdings LLC, BFTO LP, and Urban Holdings II LP, sold Class A common stock of Finance of America Companies Inc. and related LLC units back to the issuer on
The derivative positions involve LLC units of Finance of America Equity Capital LLC that are exchangeable into Class A common stock on a one-for-one basis, with exchange rights that do not expire. After the reported sales, the entities still show remaining indirect holdings of both common stock and LLC units, so this is a reduction rather than a full exit. The structure of footnotes emphasizes that each reporting person disclaims beneficial ownership beyond its economic interest, reflecting a complex but controlled ownership chain within the Blackstone group.
The repurchases occur under an Amended and Restated Repurchase Agreement dated
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | LLC Units of Finance of America Equity Capital LLC | 2,404,961 | $10.00 | $24.05M |
| Sale | LLC Units of Finance of America Equity Capital LLC | 13,806 | $10.00 | $138K |
| Sale | Class A Common Stock | 385,855 | $10.00 | $3.86M |
| Sale | Class A Common Stock | 2,161 | $10.00 | $22K |
| Sale | Class A Common Stock | 1,208,126 | $10.00 | $12.08M |
Footnotes (12)
- F1. The reported securities were repurchased by the Issuer pursuant to that certain Amended and Restated Repurchase Agreement dated as of November 13, 2025, by and among the Issuer, BTO Urban Holdings L.L.C., ("Urban Holdings LLC"), Blackstone Family Tactical Opportunities Investment Partnership - NQ - ESC L.P. ("BFTO LP"), BTO Urban Holdings II L.P. ("Urban Holdings II LLC") and Blackstone Tactical Opportunities Associates - NQ L.L.C.
- F2. Pursuant to the terms of an exchange agreement, dated as of April 1, 2021, limited liability company units of Finance of America Equity Capital LLC ("FOA Units") held by the Reporting Persons are exchangeable for shares of the Issuer's Class A common stock ("Class A Common Stock") on a one-for-one basis. These exchange rights do not expire.
- F3. Reflects securities directly held by Urban Holdings LLC.
- F4. Reflects securities directly held by BFTO LP.
- F5. Reflects securities directly held by Urban Holdings II LP.
- F6. Urban Holdings LLC is owned by Blackstone Tactical Opportunities Fund - NQ L.P., Blackstone Tactical Opportunities Fund II - NQ L.P., Blackstone Tactical Opportunities Fund - A (RA) - NQ L.P., Blackstone Tactical Opportunities Fund - I - NQ L.P., Blackstone Tactical Opportunities Fund - S - NQ L.P., Blackstone Tactical Opportunities Fund - C - NQ L.P., Blackstone Tactical Opportunities Fund - L - NQ L.P., Blackstone Tactical Opportunities Fund - O - NQ L.P., Blackstone Tactical Opportunities Fund - N - NQ L.P., Blackstone Tactical Opportunities Fund - U - NQ L.L.C., Blackstone Tactical Opportunities Fund II - C - NQ L.P., Blackstone Tactical Opportunities Fund - T - NQ L.P. (collectively, each of the Blackstone Tactical Opportunities Funds described in this paragraph shall be referred to as the "Blackstone Tactical Opportunities Funds"), (continued in footnote (7)).
- F7. BTAS NQ Holdings L.L.C. and Blackstone Family Tactical Opportunities Investment Partnership SMD L.P. The general partner of each of the Blackstone Tactical Opportunities Funds is Blackstone Tactical Opportunities Associates - NQ L.L.C. The sole member of Blackstone Tactical Opportunities Associates - NQ L.L.C. is BTOA - NQ L.L.C. The managing member of BTOA - NQ L.L.C. is Blackstone Holdings II L.P. The managing member of BTAS NQ Holdings L.L.C. is BTAS Associates - NQ L.L.C. The managing member of BTAS Associates - NQ L.L.C. is Blackstone Holdings II L.P.
- F8. The general partner of Blackstone Family Tactical Opportunities Investment Partnership SMD L.P. is Blackstone Family GP LLC. Blackstone Family GP LLC is wholly owned by Blackstone Inc.'s senior managing directors and controlled by its founder, Mr. Schwarzman.
- F9. The general partner of BFTO LP is BTO - NQ Side-by-Side GP L.L.C. The sole member of BTO - NQ Side-by-Side GP L.L.C. is Blackstone Holdings II L.P.
- F10. The general partner of Urban Holdings II LP is Blackstone Tactical Opportunities Associates - NQ L.L.C. The sole member of Blackstone Tactical Opportunities Associates - NQ L.L.C. is BTOA - NQ L.L.C. The managing member of BTOA - NQ L.L.C. is Blackstone Holdings II L.P. The general partner of Blackstone Holdings II L.P. is Blackstone Holdings I/II GP L.L.C.
- F11. Blackstone Inc. is the sole member of Blackstone Holdings I/II GP L.L.C. The sole holder of the Series II preferred stock of Blackstone Inc. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.
- F12. Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person. Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
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