Forbright (FRBT) director Jason M. Fish details indirect stakes and options
Rhea-AI Filing Summary
Forbright, Inc. director Jason M. Fish has filed an initial Form 3 reporting his ownership in Forbright (FRBT). The filing shows indirect holdings of 212,436 shares of Class A Common Stock through Sebastes Capital, LLC and 1,324,561 shares through FBF Partners, L.P., where he has sole voting and dispositive power but disclaims beneficial ownership except for his pecuniary interest.
Fish also reports direct holdings of stock options to acquire Class A Common Stock at exercise prices of $17.04 and $12.63 per share, expiring in 2031. These option grants from May 14, 2021 and July 1, 2021 vest in five equal annual installments, and portions of each grant (40,000 and 60,000 options, respectively) are subject to additional performance-based vesting tied to pre-established stock price hurdles.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
FISH JASON M
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 300,000 shares (Direct);
Class A Common Stock — 1,324,561 shares (Indirect, By FBF Partners, L.P.);
Class A Common Stock — 212,436 shares (Indirect, By Sebastes Capital, LLC)
Footnotes (6)
- F1. These shares are held by FBF Partners, L.P. ("FBF"). The Reporting Person has the sole power to vote and dispose of the shares held by FBF. The Reporting Person disclaims beneficial ownership of the shares held by FBF, except to the extent of his pecuniary interest therein.
- F2. These shares are held by Sebastes Capital, LLC ("Sebastes"). The Reporting Person has the sole power to vote and dispose of the shares held by Sebastes. The Reporting Person disclaims beneficial ownership of the shares held by Sebastes, except to the extent of his pecuniary interest therein.
- F3. These options were granted on July 1, 2021 and vest in five equal annual installments on the first five anniversaries of the grant date, of which 60,000 options are also subject to performance-based vesting conditions based on pre-established stock price hurdles.
- F4. These options were granted on July 1, 2021 and vest in five equal annual installments on the first five anniversaries of the grant date.
- F5. These options were granted on May 14, 2021 and vest in five equal annual installments on the first five anniversaries of the grant date, of which 40,000 options are also subject to performance-based vesting conditions based on pre-established stock price hurdles.
- F6. These options were granted on May 14, 2021 and vest in five equal annual installments on the first five anniversaries of the grant date.
Key Figures
Indirect holdings via Sebastes: 212,436 shares
Indirect holdings via FBF Partners: 1,324,561 shares
Option position @ $17.04 (2031-05-14): 25,000 underlying shares
+5 more
8 metrics
Indirect holdings via Sebastes
212,436 shares
Class A Common Stock held indirectly
Indirect holdings via FBF Partners
1,324,561 shares
Class A Common Stock held indirectly
Option position @ $17.04 (2031-05-14)
25,000 underlying shares
Stock options, direct ownership
Option position @ $12.63 (2031-05-14)
65,000 underlying shares
Stock options, direct ownership
Option position @ $17.04 (2031-07-01)
105,000 underlying shares
Stock options, direct ownership
Option position @ $12.63 (2031-07-01)
105,000 underlying shares
Stock options, direct ownership
Performance-based tranche (May 14, 2021 grant)
40,000 options
Subject to stock price hurdles
Performance-based tranche (July 1, 2021 grant)
60,000 options
Subject to stock price hurdles
Key Terms
Form 3, beneficial ownership, pecuniary interest, performance-based vesting conditions, +1 more
5 terms
Form 3 regulatory
"Jason M. Fish has filed an initial Form 3 reporting his ownership"
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
"disclaims beneficial ownership of the shares held by FBF, except to the extent of his pecuniary interest"
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.
pecuniary interest financial
"disclaims beneficial ownership of the shares held by Sebastes, except to the extent of his pecuniary interest therein"
performance-based vesting conditions financial
"60,000 options are also subject to performance-based vesting conditions based on pre-established stock price hurdles"
stock price hurdles financial
"subject to performance-based vesting conditions based on pre-established stock price hurdles"
"Stock price hurdles" are specific price levels that investors watch closely because reaching them can signal a potential change in the stock's future. Think of them like checkpoints in a video game; once the stock hits these levels, it might trigger new buying or selling activity, affecting whether the price goes up or down.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Forbright (FRBT) director Jason M. Fish report on his Form 3?
Jason M. Fish reported his initial ownership of Forbright Class A Common Stock. The Form 3 lists indirect holdings via two investment entities and several stock option grants with specific exercise prices, vesting schedules and 2031 expiration dates, outlining his overall equity exposure to Forbright.
What stock options in Forbright (FRBT) does Jason M. Fish hold?
Fish holds stock options giving him rights to acquire Forbright Class A Common Stock at exercise prices of $17.04 and $12.63 per share. These options expire in 2031 and vest in five equal annual installments from their 2021 grant dates, subject to service and performance conditions.
Are Jason M. Fish’s Forbright (FRBT) options subject to performance conditions?
Yes. The Form 3 footnotes state that 40,000 options from a May 14, 2021 grant and 60,000 options from a July 1, 2021 grant vest only if pre-established stock price hurdles are met, in addition to standard time-based vesting requirements over five years.