[Form 4] FRIEDMAN INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

Max Alan Reichenthal, a director of Friedman Industries, Inc. (FRD), reported on Form 4 that on 10/01/2025 he was granted 457 shares of restricted common stock under Code A. Following the reported transaction he directly beneficially owns 33,889 shares. The restricted shares are scheduled to vest 100% on October 1, 2026, subject to his continued service on the Board. The Form 4 was signed on 10/03/2025 and lists his address in Houston, TX.

Positive

• Director alignment: Grant of 457 restricted shares vests 100% on 10/01/2026, aligning director incentives with long‑term shareholder value
• Increased ownership: Reporting person now directly beneficially owns 33,889 shares

Negative

• None.

Insights

Corporate Governance Analyst

Director received time‑vesting restricted stock, raising direct holdings to 33,889 shares.

The filing shows a director grant of 457 restricted common shares on 10/01/2025 that vest fully on 10/01/2026 conditioned on continued board service. This is a routine director compensation action rather than a market purchase or sale.

This transaction is non‑derivative equity compensation and signals alignment of the director with shareholder interests via time‑based vesting; no cash price paid is disclosed beyond the form's entry of $21.9, which is recorded on the form.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Reichenthal Max Alan

(Last) (First) (Middle)

865 LOCKWOOD DRIVE

(Street)

HOUSTON TX 77020

(City) (State) (Zip)

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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	10/01/2025		A		457(1)	A	$21.9	33,889	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 which will vest 100% on October 1, 2026, subject to continued service as a member of the Board of Directors of the issuer.

	/s/ Max Reichenthal	10/03/2025
	** 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.

FAQ

What did FRD director Max Reichenthal report on Form 4?

He reported a grant of 457 restricted common shares on 10/01/2025 and direct beneficial ownership of 33,889 shares following the transaction.

When do the restricted shares vest for the FRD Form 4 filing?

The 457 restricted shares vest 100% on October 1, 2026, subject to continued Board service.

What is the transaction type reported on the Form 4 for FRD (symbol)?

The transaction is a non‑derivative equity grant reported with code A (acquisition) of restricted common stock.

How many shares does the reporting person own after the reported transaction?

The reporting person directly beneficially owns 33,889 shares after the reported transaction.

When was the Form 4 signed and filed by the reporting person?

The signature on the form is dated 10/03/2025.