Forbright director Fish receives 1,006 stock units

The deferred units settle in shares only after Jason M. Fish's service as a director ends.

Rhea-AI Filing Summary

Forbright, Inc. director Jason M. Fish received 1,006 fully vested deferred restricted stock units on October 15, 2026, in lieu of his quarterly cash retainer. Reported at $17.39 per share, each unit represents a contingent right to one Class A common share, settling in shares following termination of his board service. His direct holdings after the award were 7,382 shares. FBF Partners, L.P. held 1,324,561 shares and Sebastes Capital, LP held 212,436; Fish has sole voting and disposition power over both positions but disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Grant/Award: 1,006 shares

Grant/Award 3 txns

Insider FISH JASON M

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock F1	1,006	$17.39	$17K
holding	Class A Common Stock F2	--	--	--
holding	Class A Common Stock F3	--	--	--

Holdings After Transaction: Class A Common Stock — 7,382 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, LP)

Footnotes (3)

1. F1. Represents fully vested deferred restricted stock units ("DRSUs") granted in lieu of the Reporting Person's quarterly cash retainer fee, which will settle in shares following the termination of the Reporting Person's service as a member of the Issuer's board of directors. Each DRSU represents a contingent right to receive one share of Class A common stock.
2. F2. 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.
3. F3. The securities previously reported as held by Sebastes Capital, LLC are now held by Sebastes Capital, LP ("Sebastes") following the entity's conversion from a limited liability company to a limited partnership. The conversion did not affect the reporting person's beneficial ownership of the reported securities. 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.

Key Figures

Deferred restricted stock units granted: 1,006 units Reported price per share: $17.39 per share Shares per deferred restricted stock unit: 1 Class A common share +3 more

6 metrics

Deferred restricted stock units granted 1,006 units Granted October 15, 2026, in lieu of the quarterly cash retainer

Reported price per share $17.39 per share Award reported October 15, 2026

Shares per deferred restricted stock unit 1 Class A common share Each unit represents a contingent right to receive one share

Direct shares following award 7,382 shares Jason M. Fish's reported direct holdings following the October 15, 2026 transaction

Shares held by FBF Partners, L.P. 1,324,561 shares Reported as of October 15, 2026

Shares held by Sebastes Capital, LP 212,436 shares Reported as of October 15, 2026

Key Terms

deferred restricted stock units, beneficial ownership, pecuniary interest

3 terms

deferred restricted stock units financial

"fully vested deferred restricted stock units"

Deferred restricted stock units are promises by a company to give employees or executives company shares at a future date, subject to conditions like continued employment or performance targets; the delivery and tax event are intentionally delayed. They matter to investors because they affect when new shares may be issued and how executives are motivated—like a paycheck held in escrow that vests over time, influencing potential share dilution and management behavior.

beneficial ownership regulatory

"disclaims beneficial ownership of the shares held by FBF"

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

"except to the extent of his pecuniary interest therein"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Did FRBT's Sebastes conversion change Jason M. Fish's reported ownership?

No. Securities previously reported as held by Sebastes Capital, LLC are now held by Sebastes Capital, LP following the entity's conversion to a limited partnership; the conversion did not affect Fish's beneficial ownership of those securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/19/2026 - 04:08 PM EDT Accepted by SEC EDGAR 10/19/2026 - 04:08 PM EDT Learn about SEC filing dates

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^*

FISH JASON M

(Last) (First) (Middle)

4445 WILLARD AVENUE

SUITE 1000

(Street)

CHEVY CHASE MARYLAND 20815

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Forbright, Inc. [ FRBT ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/15/2026

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 Stock	10/15/2026		A		1,006(1)	A	$17.39	7,382	D
Class A Common Stock								1,324,561	I	By FBF Partners, L.P.(2)
Class A Common Stock								212,436	I	By Sebastes Capital, LP(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

Explanation of Responses:

1. Represents fully vested deferred restricted stock units ("DRSUs") granted in lieu of the Reporting Person's quarterly cash retainer fee, which will settle in shares following the termination of the Reporting Person's service as a member of the Issuer's board of directors. Each DRSU represents a contingent right to receive one share of Class A common stock.

2. 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.

3. The securities previously reported as held by Sebastes Capital, LLC are now held by Sebastes Capital, LP ("Sebastes") following the entity's conversion from a limited liability company to a limited partnership. The conversion did not affect the reporting person's beneficial ownership of the reported securities. 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.

Remarks:

	/s/ Randi Killen, as attorney-in-fact	10/19/2026
	** 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)