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Form 4: Forian awards 150,000 RSUs at $2.24; 4-year vest

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Forian Inc. (FORA) reported a Form 4 showing its General Counsel received 150,000 restricted stock units on November 2, 2025. The filing notes an acquisition (Code A) and lists a price of $2.24.

According to the footnote, these RSUs vest in four equal annual installments beginning on September 8, 2026 and convert into common stock on a one-for-one basis. Following the reported transaction, the filing lists 150,000 securities beneficially owned, held directly.

Positive

  • None.

Negative

  • None.
Insider McGrail Caroline Strickland
Role General Counsel
Type Security Shares Price Value
Grant/Award Common Stock 150,000 $2.24 $336K
Holdings After Transaction: Common Stock — 150,000 shares (Direct)
Footnotes (1)
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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*
McGrail Caroline Strickland
(Last) (First) (Middle)
C/O FORIAN INC.
41 UNIVERSITY DRIVE, SUITE 400
(Street)
NEWTOWN PA 18940
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Forian Inc. [ FORA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
General Counsel
3. Date of Earliest Transaction (Month/Day/Year)
11/02/2025
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 11/02/2025 A 150,000(1) A $2.24 150,000 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 150,000 restricted stock units ("RSU"), which vest in four equal annual installments beginning on September 8, 2026. RSUs convert into common stock on a one-for-one basis.
/s/ Caroline McGrail 11/04/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Forian (FORA) disclose in this Form 4?

The General Counsel received 150,000 restricted stock units on November 2, 2025.

What is the vesting schedule for the 150,000 RSUs at Forian (FORA)?

They vest in four equal annual installments beginning on September 8, 2026.

How do the RSUs convert at Forian (FORA)?

The RSUs convert into common stock on a one-for-one basis.

What transaction code is shown for the grant?

The filing lists an acquisition with Code A.

What price is listed for the reported transaction?

The Form 4 lists a price of $2.24.

How many securities are beneficially owned after the transaction?

The filing lists 150,000 securities beneficially owned following the transaction, held directly.