FS Specialty Lending (FSSL) executive adds 1,664 shares in IRA

Rhea-AI Filing Summary

FS Specialty Lending Fund (FSSL) reported an insider share purchase by a senior executive and director. On 11/19/2025, the reporting person acquired 1,664 shares of FSSL common stock at $13.34 per share in an IRA account. Following this transaction, the IRA holds 50,034 shares of common stock, and the reporting person also has 73,234.891 shares reported as directly owned, plus additional shares attributed through FS Specialty Lending Advisor, LLC.

The reporter serves as Trustee, Chairman, President and Chief Executive Officer of FSSL and is also a director. The filing notes that the reporter disclaims beneficial ownership of any shares held by FS Specialty Lending Advisor, LLC beyond his pecuniary interest in them.

Insider Trade Summary

Net Buyer: 1,664 shares ($22,198)

Net Buy 3 txns

Insider Forman Michael C.

Role See Remarks

Bought 1,664 shs ($22K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,664	$13.34	$22K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 50,034 shares (Indirect, IRA); Common Stock — 73,234.891 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Forman Michael C.

(Last) (First) (Middle)

C/O FS SPECIALTY LENDING FUND

201 ROUSE BOULEVARD

(Street)

PHILADELPHIA PA 19112

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FS Specialty Lending Fund [ FSSL ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

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								73,234.891	D
Common Stock								1	I	FS Specialty Lending Fund, Advisor, LLC(1)
Common Stock	11/19/2025		P		1,664	A	$13.34	50,034	I	IRA

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. The reporting person disclaims beneficial ownership of any shares held by FS Specialty Lending Advisor, LLC that exceed his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose.

Remarks:

Trustee, Chairman, President and Chief Executive Officer

	/s/ Stephen S. Sypherd, Attorney-in-Fact	11/21/2025
	** 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 insider transaction did FSSL report in this Form 4?

The filing reports that a senior FSSL insider acquired 1,664 shares of FS Specialty Lending Fund common stock on 11/19/2025.

At what price were the new FSSL shares purchased in the Form 4?

The 1,664 FSSL shares were purchased at a price of $13.34 per share.

How many FSSL shares does the insider now hold in the IRA after the trade?

After the reported transaction, the insider's IRA holds 50,034 shares of FS Specialty Lending Fund common stock.

What other FSSL share holdings are reported by the insider?

The insider also reports 73,234.891 shares of common stock as directly owned, plus an additional 1 share held indirectly through FS Specialty Lending Advisor, LLC.

What positions does the reporting person hold at FS Specialty Lending Fund (FSSL)?

The reporting person serves as Trustee, Chairman, President and Chief Executive Officer of FS Specialty Lending Fund and is also a director.

Does the insider claim full beneficial ownership of all shares held by FS Specialty Lending Advisor, LLC?

No. The filing states that the insider disclaims beneficial ownership of any shares held by FS Specialty Lending Advisor, LLC that exceed his pecuniary interest.