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Forbright, Inc. (FRBT) director granted 205 deferred stock units in lieu of cash

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

FISH JASON M reported acquisition or exercise transactions in this Form 4 filing.

Forbright, Inc. director Jason M. Fish received an award of 205 fully vested deferred restricted stock units (DRSUs) of Class A common stock on 2026-07-16 at $18.68 per unit, granted in lieu of his quarterly cash retainer. Each DRSU is a contingent right to receive one share of Class A common stock, settling after his board service ends, and brings his directly held DRSUs to 6,376. The report also lists indirect holdings of 1,324,561 Class A shares through FBF Partners, L.P. and 212,436 shares through Sebastes Capital, LLC, over which he has sole voting and dispositive power while disclaiming beneficial ownership except for his pecuniary interest.

Positive

  • None.

Negative

  • None.
Insider FISH JASON M
Role Director
Type Security Shares Price Value
Grant/Award Class A Common Stock 205 $18.68 $4K
holding Class A Common Stock -- -- --
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 6,376 shares (Direct); Class A Common Stock — 1,324,561 shares (Indirect, By FBF Partners, L.P.)
Footnotes (1)
  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. 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. 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.
DRSUs Granted 205.0000 shares Fully vested deferred restricted stock units granted on 2026-07-16
Grant Price 18.6800 per share Value per DRSU granted in lieu of quarterly cash retainer
Direct DRSU Holdings 6376.0000 shares Total Class A shares underlying DRSUs held directly after the award
Indirect Holdings via FBF Partners, L.P. 1324561.0000 shares Class A shares held by FBF Partners, L.P. with sole voting and dispositive power by Fish
Indirect Holdings via Sebastes Capital, LLC 212436.0000 shares Class A shares held by Sebastes Capital, LLC with sole voting and dispositive power by Fish
deferred restricted stock units ("DRSUs") financial
"Represents fully vested deferred restricted stock units ("DRSUs") granted in lieu of the Reporting"
quarterly cash retainer fee financial
"DRSUs granted in lieu of the Reporting Person's quarterly cash retainer fee, which will settle"
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of the shares held by FBF, except to the extent of his pecuniary interest therein."

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transaction did Forbright (FRBT) report for Jason M. Fish?
Forbright director Jason M. Fish received 205 fully vested deferred restricted stock units of Class A common stock at $18.68 per unit, granted in lieu of his quarterly cash retainer for board service.

How many Forbright (FRBT) shares does Jason M. Fish hold directly after this award?
After the award, Jason M. Fish holds 6,376 Class A shares in the form of fully vested deferred restricted stock units. These DRSUs will settle in shares following the end of his board service.

What indirect Forbright (FRBT) holdings are associated with Jason M. Fish?
Indirectly, entities associated with Jason M. Fish hold 1,324,561 Class A shares via FBF Partners, L.P. and 212,436 shares via Sebastes Capital, LLC, with Fish having sole voting and dispositive power over these shares.

Does Jason M. Fish claim full beneficial ownership of his indirect Forbright (FRBT) holdings?
No. For both FBF Partners, L.P. and Sebastes Capital, LLC holdings, Jason M. Fish disclaims beneficial ownership of the shares, except to the extent of his pecuniary interest in those entities.

What are deferred restricted stock units (DRSUs) in Forbright (FRBT)'s grant to Jason M. Fish?
The grant consists of deferred restricted stock units, each representing a contingent right to receive one share of Forbright Class A common stock, settling in shares after Jason M. Fish’s board service terminates.
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/16/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock07/16/2026A205(1)A$18.686,376D
Class A Common Stock1,324,561IBy FBF Partners, L.P.(2)
Class A Common Stock212,436IBy Sebastes Capital, LLC(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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. 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.
Remarks:
/s/ Randi Killen, as attorney-in-fact07/17/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR