Forbright EVP Elias discloses initial share and option holdings
Forbright, Inc. EVP Kenneth F. Elias filed an initial ownership report showing he directly holds 193,482 shares of Class A Common Stock.
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Form Type
3
Rhea-AI Filing Summary
Forbright, Inc. EVP Kenneth F. Elias filed an initial ownership report showing he directly holds 193,482 shares of Class A Common Stock. His equity package also includes several stock option grants to buy Class A shares, such as 50,000 options at an exercise price of $9.3100 expiring on February 1, 2030, along with additional options at exercise prices of $17.0400, $13.5000, and $12.6300 with expirations in 2031 and 2032. Footnotes note that his holdings include restricted stock awards granted in 2025 and 2026 that vest in annual installments, some of which are subject to performance-based stock price hurdles.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Elias Kenneth F
Role
EVP
| 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 | Stock Option (right to buy) | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 400,000 contracts (Direct);
Class A Common Stock — 193,482 shares (Direct)
Footnotes (6)
- F1. Includes (i) 33,505 restricted stock awards ("RSAs") granted on March 13, 2025 that vest in five substantially equal annual installments on the first five anniversaries of the grant date; (ii) 13,500 RSAs granted on February 12, 2026 that vest in three substantially equal annual installments on the first three anniversaries of the grant date; and (iii) 75,000 RSAs granted on April 29, 2026 that vest in three substantially equal annual installments on the first three anniversaries of the grant date.
- F2. 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.
- 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.
- F4. These options were granted on February 16, 2022 and vest in five equal annual installments on the first five anniversaries of the grant date, of which 14,000 options are also subject to performance-based vesting conditions based on pre-established stock price hurdles.
- F5. These options were granted on February 16, 2022 and vest in five equal annual installments on the first five anniversaries of the grant date.
- F6. These options were granted on February 1, 2020 and vest in five equal annual installments on the first five anniversaries of the grant date.
Key Figures
Direct Class A shares held: 193,482 shares
Stock option at $9.3100: 50,000 underlying shares
Stock option at $17.0400 (2032): 26,000 underlying shares
+3 more
6 metrics
Direct Class A shares held
193,482 shares
Beneficial ownership reported on Form 3
Stock option at $9.3100
50,000 underlying shares
Exercise price $9.3100, expires February 1, 2030
Stock option at $17.0400 (2032)
26,000 underlying shares
Exercise price $17.0400, expires February 16, 2032
Stock option at $13.5000
14,000 underlying shares
Exercise price $13.5000, expires February 16, 2032
Stock option at $17.0400 (2031)
150,000 underlying shares
Exercise price $17.0400, expires July 1, 2031
Stock option at $12.6300
160,000 underlying shares
Exercise price $12.6300, expires July 1, 2031
Key Terms
restricted stock awards, RSAs, performance-based vesting conditions, stock price hurdles, +1 more
5 terms
restricted stock awards financial
"Includes (i) 33,505 restricted stock awards ("RSAs") granted on March 13, 2025"
Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.
RSAs financial
"33,505 restricted stock awards ("RSAs") granted on March 13, 2025 that vest"
performance-based vesting conditions financial
"60,000 options are also subject to performance-based vesting conditions based on pre-established stock price"
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.
Stock Option (right to buy) financial
"security_title": "Stock Option (right to buy)""
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does the Form 3 filing for Forbright (FRBT) show about Kenneth Elias?
The Form 3 shows EVP Kenneth F. Elias directly holds 193,482 Forbright Class A shares. It also details his stock option grants and restricted stock awards, outlining strike prices, expiration dates, and vesting terms tied to service and performance conditions.
What stock options for Forbright (FRBT) does Kenneth Elias hold?
Elias holds multiple stock options to buy Forbright Class A shares, including 50,000 underlying shares at $9.3100 expiring in 2030, plus additional options over 26,000, 14,000, 150,000 and 160,000 underlying shares at exercise prices between $12.6300 and $17.0400 expiring in 2031 and 2032.
What are the key vesting terms of Kenneth Elias’s Forbright restricted stock awards?
His holdings include 33,505 RSAs granted in March 2025 vesting in five annual installments, 13,500 RSAs from February 2026 vesting over three years, and 75,000 RSAs from April 2026 vesting over three years, with some tied to stock price performance hurdles.
Are any of Kenneth Elias’s Forbright options subject to performance conditions?
Yes. Some options granted on July 1, 2021 and February 16, 2022 are subject to performance-based vesting. These depend on pre-established stock price hurdles being met, in addition to the standard annual service-based vesting schedule described in the filing footnotes.
Does the Forbright Form 3 indicate recent insider buying or selling by Kenneth Elias?
The Form 3 is an initial ownership statement listing existing holdings, not new trades. Its entries are classified as holdings, with no buy or sell transaction codes, so it does not show recent insider purchases or sales by Kenneth F. Elias.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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