[Form 4] FRIEDMAN INDUSTRIES INC Insider Trading Activity

Rhea-AI Filing Summary

Michael Donn Hanson, a director of Friedman Industries, Inc. (FRD), reported an acquisition of 457 shares of the issuer's common stock on 10/01/2025. The Form 4 shows the transaction coded A (acquisition) at a price of $21.9 per share, with the shares recorded as directly owned following the transaction. The filing states these are restricted shares that will vest 100% on 10/01/2026, conditioned on continued service as a member of the Board. The form is signed by Mr. Hanson on 10/03/2025.

Positive

• 457 restricted shares granted to a director, vesting 100% on 10/01/2026, aligns board incentives
• Form 4 discloses the transaction promptly with a signature dated 10/03/2025

Negative

• None.

Insights

Corporate Governance Expert

Director grant aligns board incentives through restricted equity.

The reported 457 restricted shares vesting 100% on 10/01/2026 tie the director's compensation to continued service and future company performance. Restricted shares that vest over time are a common governance tool to retain board members and align interests with shareholders.

This item is procedural and non-financial for current-period results but relevant to long-term governance and potential dilution when vested shares become unrestricted.

Insider Reporting / Compliance Expert

Form 4 timely discloses an acquisition by a Section 16 reporting person.

The filing records an acquisition code A on 10/01/2025 and a signature date of 10/03/2025, meeting the requirement to report changes in beneficial ownership. The document lists the acquisition price as $21.9 per share and shows direct ownership following the transaction.

There are no derivative holdings or additional transactions disclosed; compliance implications are limited to standard disclosure and future vesting conditions.

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

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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^*

Hanson Michael Donn

(Last) (First) (Middle)

3704 BROOKSIDE ROAD

(Street)

OTTAWA HILLS OH 43606

(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	457	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/ Michael Hanson	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 Michael Hanson report on Form 4?

Mr. Hanson reported an acquisition of 457 shares of FRD common stock on 10/01/2025, at a price of $21.9 per share.

When do the shares reported by Michael Hanson vest?

The Form 4 states the restricted shares will vest 100% on 10/01/2026, subject to continued board service.

How are the shares held after the reported transaction?

The filing shows 457 shares beneficially owned directly following the reported acquisition.

Was the Form 4 signed and when?

Yes. The Form 4 is signed by Michael Hanson with a signature date of 10/03/2025.

Does the filing disclose any derivative securities for Mr. Hanson?

No. Table II for derivative securities contains no entries in the provided filing.