Friedman Inds SEC Filings

Tim Stevenson, a director of Friedman Industries Inc (FRD), reported an acquisition of 457 restricted shares of the issuer's common stock on 10/01/2025. The reported per-share price was $21.9. After the transaction, Mr. Stevenson beneficially owns 29,132 shares in total. The restricted shares are scheduled to vest 100% on October 1, 2026, conditioned on his continued service on the board. The Form 4 was signed on 10/03/2025 and indicates the filing was made by one reporting person.

Friedman Industries, Incorporated held its Annual Meeting of Shareholders on September 18, 2025. Shareholders elected the seven board nominees — Michael J. Taylor, Michael Hanson, Max Reichenthal, Sandy Scott, Tim Stevenson, Sharon Taylor and Joe L. Williams — to serve until the next annual meeting or until their successors qualify. The shareholders also cast non-binding advisory votes on executive compensation and on the frequency of that advisory vote, and they ratified the selection of Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending March 31, 2026.

Shareholders considered two corporate governance actions: an amendment to the Articles of Incorporation to allow shareholders to amend the Bylaws, which was not approved because affirmative votes fell short of the required two-thirds of outstanding shares entitled to vote, and the Company’s 2025 Long-Term Incentive Plan, which shareholders approved. The filing lists vote categories but does not disclose the numerical vote totals in the provided text.

Friedman Industries acquired Century Metals & Supplies' Miami operations and certain Tampa and Orlando assets for approximately $45.25 million cash plus a $3.5 million five-year promissory note, with a final purchase price subject to net working capital adjustments and an earn-out of up to $10 million payable over four years based on performance. The company also entered a Fifth Amendment to its Amended and Restated Credit Agreement to permit the Acquisition, replace BMO Harris with Wells Fargo as a lender, reduce aggregate commitments from $150 million to $125 million, set pricing at prime-1.45% or adjusted Term SOFR+1.55%, adjust borrowing bases and extend the facility maturity to August 29, 2030. A press release announcing the closing was issued on September 2, 2025.

Friedman Industries, Inc. (FRD) has a Schedule 13G/A showing that Tontine-associated entities and Mr. Jeffrey L. Gendell together report beneficial ownership of the company's common stock. Tontine Capital Overseas Master Fund II, L.P. and its general partner Tontine Asset Associates, LLC report shared voting and dispositive power over 267,952 shares, representing 3.8% of the 7,059,440 shares outstanding. Mr. Gendell reports shared voting and dispositive power over 354,576 shares, equal to 5.0% of the class, which includes 86,624 shares owned by Tontine Financial Partners, L.P. The filing states these holdings were not acquired to change or influence control of the issuer.

Friedman Industries, Inc. (Nasdaq: FRD) filed an 8-K on July 14, 2025 to disclose a key management change. The Board has appointed Gaurav Chhibbar, age 38, as Chief Operating Officer (COO) effective July 10, 2025.

Mr. Chhibbar brings 14 years of metals-industry and consulting experience. His résumé includes:

• Principal at Boston Consulting Group (Apr 2020 – Jul 2025)
• Partner & Co-Founder, Metal Edge Partners/Trading (May 2018 – Mar 2020)
• Various metals-related roles at Cargill International & Cargill Inc. (Apr 2011 – Apr 2018)

Compensation terms: base salary of $365,000, participation in the Company’s short-term incentive plan, and eligibility for equity awards under the long-term incentive plan. No family relationships, related-party transactions, or selection arrangements were reported.

Under Item 7.01, the Company also furnished a press release (Exhibit 99.1) announcing the appointment. The disclosure is furnished, not filed, and therefore is not subject to Section 18 liability.

Aside from this leadership change, the filing contains no financial statements, earnings data, or transactional details.