Five Point (FPH) awards 435K RSUs to Alvarado, withholds shares for taxes

Rhea-AI Filing Summary

Five Point Holdings, LLC reported an insider equity compensation update for officer Michael Alvarado. On April 8, 2026, he received three new grants of restricted share units totaling 435,000 units, each representing a contingent right to one Class A common share. Portions of these awards vest annually over three years starting April 8, 2027, while others depend on achieving share price targets during a performance period ending February 28, 2029, including a requirement that the share price exceed $10 per share for 20 consecutive days.

Previously granted restricted share units totaling 46,780 units were settled into Class A common shares on their scheduled vesting date, and 23,802 of those shares were withheld by the company at $5.00 per share to cover tax obligations, with no shares sold by Alvarado. After these transactions, he holds 945,645 Class A common shares directly and 55,070 shares indirectly through a family trust, along with 2,407,982 restricted share units representing additional future share rights.

Insider Trade Summary

46,780 shares exercised/converted

Mixed 7 txns

Insider Alvarado Michael

Role See Remarks

Type	Security	Shares	Price	Value
Grant/Award	Restricted share units	135,000	$0.00	--
Grant/Award	Restricted share units	180,000	$0.00	--
Grant/Award	Restricted share units	120,000	$0.00	--
Exercise	Restricted share units	46,780	$0.00	--
Exercise	Class A common shares	46,780	$0.00	--
Tax Withholding	Class A common shares	23,802	$5.00	$119K
holding	Class A common shares	--	--	--

Holdings After Transaction: Restricted share units — 2,154,762 shares (Direct); Class A common shares — 969,447 shares (Direct); Class A common shares — 55,070 shares (Indirect, By trust)

Footnotes (1)

1. Each restricted share unit is a contingent right to receive one Class A common share. This transaction represents the settlement of restricted share units in Class A common shares on their scheduled vesting date. Represents shares withheld by the Company to satisfy tax withholding obligations in connection with the settlement of restricted share units previously granted to the reporting person. No shares were sold by the reporting person. The Class A common shares of the Company are owned by The Michael A. and Julie S. Alvarado Family Trust created u/t/d dated July 9, 2002, of which Mr. Alvarado and his wife serve as co-trustees. Each restricted share unit is a contingent right to receive one Class A common share. The restricted share units will vest in equal installments over three years on April 8, 2027, April 8, 2028 and April 8, 2029, subject to the Reporting Person's continued service with the Issuer through the applicable vesting date. The restricted share units will vest based upon the satisfaction of certain share price targets during the performance period ending February 28, 2029. The restricted share units will vest based upon the satisfaction of certain share price targets during the performance period ending February 28, 2029 only if the share price exceeds $10 per share during any 20 consecutive days during the performance period. This award was granted on April 8, 2025. 46,780 and 46,781 restricted share units subject to the award are scheduled to vest on April 8, 2027 and April 8, 2028, respectively, assuming continued employment through the applicable vesting date.

Key Figures

RSU grant 1: 135,000 units RSU grant 2: 180,000 units RSU grant 3: 120,000 units +5 more

8 metrics

RSU grant 1 135,000 units Restricted share units granted April 8, 2026

RSU grant 2 180,000 units Restricted share units granted April 8, 2026

RSU grant 3 120,000 units Restricted share units granted April 8, 2026

RSUs settled 46,780 units Previously granted RSUs settled into Class A common shares

Shares withheld for taxes 23,802 shares at $5.00 Class A common shares withheld to satisfy tax obligations

Direct common share holdings 945,645 shares Class A common shares held directly after transactions

Indirect trust holdings 55,070 shares Class A common shares held by family trust

RSUs outstanding 2,407,982 units Restricted share units held after transactions

Key Terms

restricted share units, tax withholding obligations, performance period, share price targets, +1 more

5 terms

restricted share units financial

"Each restricted share unit is a contingent right to receive one Class A common share."

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

tax withholding obligations financial

"Represents shares withheld by the Company to satisfy tax withholding obligations in connection with the settlement of restricted share units"

performance period financial

"The restricted share units will vest based upon the satisfaction of certain share price targets during the performance period ending February 28, 2029."

The performance period is the specific time span over which an investment’s results, an employee’s targets, or a fund’s returns are measured and judged. It matters to investors because the length and start/end of that window determine which gains or losses count toward performance fees, bonus payouts, or benchmark comparisons—much like timing a race decides who wins, the chosen period can change whether results look strong or weak.

share price targets financial

"The restricted share units will vest based upon the satisfaction of certain share price targets during the performance period ending February 28, 2029."

Family Trust financial

"The Class A common shares of the Company are owned by The Michael A. and Julie S. Alvarado Family Trust"

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^*

Alvarado Michael

(Last) (First) (Middle)

C/O FIVE POINT HOLDINGS, LLC

2000 FIVEPOINT, 4TH FLOOR

(Street)

IRVINE CALIFORNIA 92618

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Five Point Holdings, LLC [ FPH ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/08/2026

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
Class A common shares	04/08/2026		M		46,780	A	(1)	969,447	D
Class A common shares	04/08/2026		F		23,802(2)	D	$5	945,645	D
Class A common shares								55,070	I	By trust(3)

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
Restricted share units	(4)	04/08/2026		A		135,000		(5)	(5)	Class A common shares	135,000	$0	2,154,762	D
Restricted share units	(4)	04/08/2026		A		180,000		(6)	(6)	Class A common shares	180,000	$0	2,334,762	D
Restricted share units	(4)	04/08/2026		A		120,000		(7)	(7)	Class A common shares	120,000	$0	2,454,762	D
Restricted share units	(4)	04/08/2026		M			46,780	(8)	(8)	Class A common shares	46,780	$0	2,407,982	D

Explanation of Responses:

1. Each restricted share unit is a contingent right to receive one Class A common share. This transaction represents the settlement of restricted share units in Class A common shares on their scheduled vesting date.

2. Represents shares withheld by the Company to satisfy tax withholding obligations in connection with the settlement of restricted share units previously granted to the reporting person. No shares were sold by the reporting person.

3. The Class A common shares of the Company are owned by The Michael A. and Julie S. Alvarado Family Trust created u/t/d dated July 9, 2002, of which Mr. Alvarado and his wife serve as co-trustees.

4. Each restricted share unit is a contingent right to receive one Class A common share.

5. The restricted share units will vest in equal installments over three years on April 8, 2027, April 8, 2028 and April 8, 2029, subject to the Reporting Person's continued service with the Issuer through the applicable vesting date.

6. The restricted share units will vest based upon the satisfaction of certain share price targets during the performance period ending February 28, 2029.

7. The restricted share units will vest based upon the satisfaction of certain share price targets during the performance period ending February 28, 2029 only if the share price exceeds $10 per share during any 20 consecutive days during the performance period.

8. This award was granted on April 8, 2025. 46,780 and 46,781 restricted share units subject to the award are scheduled to vest on April 8, 2027 and April 8, 2028, respectively, assuming continued employment through the applicable vesting date.

Remarks:

Chief Operating Officer, Chief Legal Officer, and Vice President

	/s/ Mike Alvarado	04/10/2026
	** 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 insider transactions did Five Point Holdings (FPH) report for Michael Alvarado?

Five Point reported that officer Michael Alvarado received 435,000 new restricted share units and settled 46,780 previously granted units into Class A common shares. The filing also shows shares withheld to cover tax obligations, with no open-market sales by Alvarado.

How many restricted share units did Michael Alvarado receive from Five Point Holdings (FPH)?

Alvarado received 435,000 restricted share units: 135,000, 180,000, and 120,000 units. Each unit is a contingent right to one Class A common share, subject to time-based vesting and performance conditions outlined in the award terms.

What are the vesting conditions for Michael Alvarado’s new FPH restricted share units?

Some restricted share units vest in equal installments on April 8, 2027, April 8, 2028, and April 8, 2029, assuming continued service. Others vest based on share price targets during a performance period ending February 28, 2029, including a $10 price hurdle over 20 consecutive days.

Did Michael Alvarado sell any Five Point Holdings (FPH) shares in this Form 4?

No, the filing states that 23,802 Class A common shares were withheld by the company at $5.00 per share to satisfy tax withholding obligations. It explicitly notes that no shares were sold by Alvarado in connection with this settlement.

What are Michael Alvarado’s holdings in Five Point Holdings (FPH) after these transactions?

After the reported transactions, Alvarado holds 945,645 Class A common shares directly and 55,070 shares indirectly through a family trust. He also holds 2,407,982 restricted share units, each representing a contingent right to receive one Class A common share, subject to vesting.

How were previously granted FPH restricted share units settled for Michael Alvarado?

Previously granted restricted share units totaling 46,780 units were settled into Class A common shares on their scheduled vesting date. This settlement reflects the conversion of contingent rights into actual shares as vesting conditions were satisfied under the original award terms.