Friedman Industries (FRD) CEO awarded 30,000 restricted shares tied to 3-year targets

Rhea-AI Filing Summary

Taylor Mike J reported acquisition or exercise transactions in this Form 4 filing.

Friedman Industries President and CEO Mike J. Taylor received a grant of 30,000 shares of restricted Common Stock. Following this award, he directly holds 253,166 shares. Half of the new shares vest in equal annual installments over three years starting April 1, 2026, and half vest based on performance criteria tied to earnings before tax and working capital-related metrics over the same three-year period, all subject to continued employment.

Insights

Equity compensation analyst

CEO receives 30,000-share restricted stock grant with time- and performance-based vesting.

Mike J. Taylor, President and CEO of Friedman Industries, was awarded 30,000 shares of restricted Common Stock as equity compensation. This is a non-cash acquisition with a grant/award code rather than an open-market purchase.

The footnote explains that 50% of these shares vest in equal annual portions over three years beginning on April 1, 2026, while the remaining 50% depend on performance metrics related to earnings before tax and certain balance sheet items. All vesting requires continued employment.

This structure ties a portion of leadership compensation to both tenure and operational performance. There are no derivative positions disclosed in this filing, and no indication of a trading plan or open-market activity; the event reflects routine incentive alignment rather than a directional bet on the stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Taylor Mike J

Role President / CEO / Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	30,000	$0.00	--

Holdings After Transaction: Common Stock — 253,166 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock grant: 30,000 shares Post-grant holdings: 253,166 shares Grant price per share: $0.0000 per share +2 more

5 metrics

Restricted stock grant 30,000 shares Award of restricted Common Stock to CEO on June 3, 2026

Post-grant holdings 253,166 shares Total Common Stock directly held after transaction

Grant price per share $0.0000 per share Equity compensation grant, non-cash

Time-based vesting start April 1, 2026 Half of restricted shares vest annually over three years

Performance period start April 1, 2026 Half of shares vest based on 3-year performance criteria

Key Terms

restricted Common Stock, vesting, performance criteria, earnings before tax, +1 more

5 terms

restricted Common Stock financial

"Represents shares of restricted Common Stock."

Restricted common stock is company shares that carry limits on selling or transferring for a set period or until certain conditions are met, like time-based vesting or regulatory clearance. Think of them as shares in a locked box that gradually open; they can become freely tradable later but initially reduce the number of shares available on the market. Investors watch restricted stock because its eventual release can change a company’s share supply, affect stock price, and influence control and dilution.

vesting financial

"Half of the shares will vest in equal amounts each year for three years"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

performance criteria financial

"Half of the shares will vest depending on performance criteria related to earnings before tax"

earnings before tax financial

"performance criteria related to earnings before tax and amounts of accounts receivable"

continued employment financial

"Vesting for all shares is subject to continued employment with the issuer."

Continued employment means that an individual remains in their current job without interruption. For investors, it signals stability and ongoing work that can affect company performance and future prospects. Like a steady heartbeat for a business, sustained employment helps ensure consistent operations and financial health.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/22/2026 - 05:11 PM Accepted by SEC EDGAR 06/22/2026 - 05:10 PM 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^*

Taylor Mike J

(Last) (First) (Middle)

27 STANWICK PLACE

(Street)

THE WOODLANDS TEXAS 77382

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FRIEDMAN INDUSTRIES INC [ FRD ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

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
Common Stock	06/03/2026		A		30,000(1)	A	$0	253,166	D

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 shares of restricted Common Stock. Half of the shares will vest in equal amounts each year for three years commencing on April 1, 2026. Half of the shares will vest depending on performance criteria related to earnings before tax and amounts of accounts receivable, inventory and property, plant and equipment over a three-year period commencing April 1, 2026. Vesting for all shares is subject to continued employment with the issuer.

	/s/ Michael J. Taylor	06/22/2026
	** 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 did FRIEDMAN INDUSTRIES (FRD) CEO Mike J. Taylor report on this Form 4?

Mike J. Taylor reported receiving 30,000 shares of restricted Common Stock as an equity award. The grant is recorded at $0.00 per share, reflecting a compensation grant rather than an open-market purchase, and increases his direct holdings to 253,166 shares after the transaction.

How many FRD shares does Mike J. Taylor hold after this restricted stock grant?

After the reported grant, Mike J. Taylor directly holds 253,166 shares of Friedman Industries Common Stock. This total includes the newly awarded 30,000 restricted shares, which will vest over time and based on performance, subject to his continued employment with the company.

How do the 30,000 restricted FRD shares granted to the CEO vest?

The 30,000 restricted shares vest in two parts. Half vest in equal amounts each year over three years starting April 1, 2026. The other half vests over the same three-year period based on performance criteria tied to earnings before tax and certain working capital metrics.

Is the FRD CEO’s 30,000-share award an open-market stock purchase?

No, the 30,000 shares are a grant of restricted Common Stock recorded at $0.00 per share. The Form 4 uses transaction code “A” for a grant, award, or other acquisition, indicating compensation rather than a cash-funded open-market purchase of Friedman Industries stock.

What performance measures affect vesting of the FRD CEO’s restricted shares?

Vesting of half the restricted shares depends on performance criteria related to earnings before tax and levels of accounts receivable, inventory, and property, plant and equipment. These performance conditions apply over a three-year period beginning April 1, 2026, alongside the continued employment requirement.