Schiff David M reported acquisition or exercise transactions in this Form 4 filing.
FS Credit Real Estate Income Trust, Inc. director David M. Schiff reported an award of 783.794 shares of Class I Common Stock at $23.9221 per share. After this grant, he holds a total of 10,760.370 shares directly.
Connors Terence J reported acquisition or exercise transactions in this Form 4 filing.
FS Credit Real Estate Income Trust, Inc. director Terence J. Connors received an award of 914 shares of Class I common stock at $23.92 per share. After this grant, he directly holds 17,032 shares. This filing records an equity-based compensation grant rather than an open-market purchase.
BROWN JAMES W reported acquisition or exercise transactions in this Form 4 filing.
FS Credit Real Estate Income Trust, Inc. director James W. Brown received a grant of 836.047 shares of Class I Common Stock on March 2, 2026, as a stock award rather than an open-market purchase, at a reported price of $23.9221 per share. Following this award, his directly held stake in this class increased to 13,435.294 shares.
FS Credit Real Estate Income Trust, Inc. director Karen Dougherty Buchholz reported an equity award of Class I Common Stock. She acquired 940.5530 shares on March 2, 2026 at a stated price of $23.9221 per share as a grant, award, or other acquisition, not an open-market purchase. Following this transaction, her directly held Class I Common Stock position increased to 17,670.6820 shares.
FS Credit Real Estate Income Trust, Inc. director John A. Fry reported an acquisition of Class I Common Stock. On March 2, 2026, he received a grant or award of 940.553 Class I Common Stock shares at a reported price of $23.9221 per share. After this award, his directly held position in this class increased to 16,465.845 shares.
FS Credit Real Estate Income Trust, Inc. director Ryan Boyer reported an equity award of Class I Common Stock. He acquired 940.5530 shares on March 2, 2026 at a reported price of $23.9221 per share as a grant, award, or other acquisition. After this transaction, his directly held position increased to 14349.6770 shares of Class I Common Stock.
FS Credit Real Estate Income Trust, Inc. entered into a major financing by issuing a new collateralized loan obligation through its FS Rialto 2026-FL11 structure. The CLO issuer sold six classes of offered notes, including Class A Notes with a principal balance of $600,098,000, representing 58.000% of the aggregate principal balance of all notes, and several mezzanine tranches rated down to BBB(low)(sf).
Additional subordinated Classes F, G and equity-like Class H Notes, totaling tens of millions of dollars, were acquired and retained by an indirect wholly owned subsidiary. The secured notes are backed by commercial mortgage loans and related interests and are scheduled to mature at par in January 2044, with a reinvestment period through the payment date in February 2029.
The structure includes note protection tests requiring a minimum par value ratio of 110.58% and minimum interest coverage of 120.00%, which can redirect interest cash flow to redeem senior notes if breached. The CLO is expected to be a taxable mortgage pool that generates excess inclusion income; the company currently intends to pay corporate income tax on that income rather than distribute it to stockholders, but acknowledges uncertainty in how such income will be computed and notes transfer restrictions needed to preserve qualified REIT subsidiary status.
FS Credit Real Estate Income Trust, Inc. reported that its board, following the adviser’s recommendation, approved a reduction in the monthly distribution on its common stock starting with the distribution to holders of record on February 26, 2026. The February distribution, payable on February 27, 2026, will be $0.1479 per Class I share, $0.1415 per Class D and Class M share, $0.1300 per Class S and Class T share, $0.1736 per Class F share and $0.1739 per Class Y share.
Based on these February amounts and net asset values as of December 31, 2025, the annualized distribution rates are 7.42% for Class I, 6.89% for Class D, 6.87% for Class M, 6.28% for Class S, 6.34% for Class T, 8.27% for Class F and 8.73% for Class Y. The adviser and board plan to continue evaluating the distribution level in light of interest rates, leverage, capital flows and portfolio activity, and future distributions remain at the board’s discretion.
FS Credit Real Estate Income Trust, Inc. reported an insider equity award linked to President & CEO Michael C. Forman through affiliated entities. On January 13, 2026, Franklin Square Holdings, LP, an entity associated with him, acquired 156,595.816 Class I Restricted Stock Units at $0 per unit as compensation. Following this award, Franklin Square Holdings, LP indirectly holds 1,667,039.568 Class I Restricted Stock Units.
The RSUs are issued as an administrative services fee equal to 1.0% of the company’s net asset value per year, payable quarterly in Class I RSUs under an advisory agreement, with the fee split 50/50 between the adviser and Rialto Capital Management LLC. Affiliated vehicle FSH Seed Capital Vehicle I LLC also indirectly holds 2,506.828 Class T, 413.861 Class M, and 412.313 Class S Common Stock, and the reporting person disclaims beneficial ownership beyond his pecuniary interest.
FS Credit Real Estate Income Trust, Inc. director Jeffrey P. Krasnoff reported indirect ownership changes tied to advisory compensation. An entity associated with him, Rialto Capital Management, LLC, acquired 156,595.816 Class I Restricted Stock Units on January 13, 2026 at a stated price of $0, increasing its beneficially owned derivative securities to 1,890,150.512 Class I Restricted Stock Units. These units are issued under an advisory arrangement where the company pays a 1.0% per annum administrative services fee on net asset value in Class I Restricted Stock Units, split 50/50 between the adviser and Rialto Capital Management, LLC.
Following the reported transactions, Rialto Capital Management, LLC held 476,183.442 Class I Common Shares indirectly for Krasnoff, while JTK RCM, LLC, which is jointly owned by Krasnoff and his spouse, held 22,702.351 Class I Common Shares and 38,079.649 Class F Common Shares. The filing notes that Krasnoff disclaims beneficial ownership of any shares held by Rialto that exceed his pecuniary interest.