Formula Systems (NASDAQ: FORTY) director Rafal Kozlowski files Form 3

Rhea-AI Filing Summary

FORMULA SYSTEMS (1985) LTD director Rafal Marek Kozlowski filed a Form 3, which is an initial statement of beneficial ownership for company insiders. The filing identifies him as a director but does not report any stock transactions or option exercises at this time.

Key Terms

Form 3, beneficial ownership, reporting person

3 terms

Form 3 regulatory

"INSIDER FILING DATA (Form 3):"

Form 3 is the initial public filing that officers, directors and large shareholders must submit to report their ownership of a company’s securities when they become insiders. It acts like an opening inventory sheet that gives investors a starting point to see who holds significant stakes and to spot later trades or potential conflicts of interest, helping assess insider confidence and transparency.

beneficial ownership financial

"initial statement of beneficial ownership for company insiders"

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.

reporting person regulatory

""reportingPersons": [{"name": "Kozlowski Rafal Marek""

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Kozlowski Rafal Marek

(Last) (First) (Middle)

STR. RAKOWIECKA 47 M 30

(Street)

WARSZAWA 02-528

(City) (State) (Zip)

POLAND

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
FORMULA SYSTEMS (1985) LTD [ FORTY ]

3a. Foreign Trading Symbol

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

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

This Form 3 has been filed after March 18, 2026 but prior to April 20, 2026 in reliance on the temporary relief made available to the directors and officers of certain foreign private issuers by the Staff of the Securities and Exchange Commission in its no-action letter dated March 13, 2026.

No securities are beneficially owned.

	Rafal Marek Kozlowski	04/16/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does Rafal Kozlowski's Form 3 filing mean for FORTY?

The Form 3 shows that Rafal Marek Kozlowski is a director of FORMULA SYSTEMS (1985) LTD. It serves as his initial beneficial ownership disclosure, and this specific filing reports no insider trades or derivative transactions.

Did Rafal Kozlowski buy or sell any FORTY shares in this Form 3?

No trades are reported in this Form 3 for Rafal Marek Kozlowski. The transaction summary shows zero purchases, zero sales, and no derivative exercises, meaning the filing is purely an initial ownership statement.

What is the purpose of a Form 3 for FORMULA SYSTEMS (1985) LTD insiders?

Form 3 is the initial statement of beneficial ownership for insiders of FORMULA SYSTEMS (1985) LTD. It formally records that a person, such as a director, is an insider and sets a baseline before any future Form 4 or Form 5 transaction reports.

Does this FORTY Form 3 include any option or derivative positions?

The Form 3 derivative summary is empty for Rafal Marek Kozlowski. That means no options, warrants, or other derivative securities are listed in this filing as part of his disclosed insider holdings.

Is Rafal Kozlowski a large (10%+) shareholder of FORMULA SYSTEMS (1985) LTD?

The Form 3 indicates that Rafal Marek Kozlowski is a director but not a ten percent owner. The ten percent owner field is marked negative, so he is not reported as holding at least ten percent of the company’s shares.