FS Specialty Lending Fund (FSSL) director discloses November insider buying

Rhea-AI Filing Summary

FS Specialty Lending Fund director reported recent open-market purchases of the company's common stock. On November 25, 2025, trusts associated with the director bought 1,855 shares at $13.47 and another 1,855 shares at $13.49, which are reported as indirectly owned through family trusts. On November 26, 2025, the director purchased 7,365 shares of common stock at $13.58, bringing the director's directly held position to 14,697.132 shares after the transaction. The filing is made by a single reporting person in the capacity of a director and indicates indirect ownership for the trust-held shares.

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^*

Goldstein Richard I

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

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	11/25/2025		P		1,855	A	$13.47	1,855	I	Lauren Goldstein Trust(1)
Common Stock	11/25/2025		P		1,855	A	$13.49	1,855	I	Stephanie Goldstein Trust(2)
Common Stock	11/26/2025		P		7,365	A	$13.58	14,697.132	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. The reported transaction was effected by a Trust for which the Reporting Person is the Grantor. The Reporting Person's spouse, who resides in the same household, serves as Trustee. The Reporting Person is reporting the securities as indirectly owned.

2. The reported transaction was effected by a Trust for which the Reporting Person serves as Grantor. The Reporting Person's spouse, who resides in the same household as the Reporting Person, serves as Trustee and the Reporting person's non-minor child, who does not reside in the same household as the Reporting Person, serves as Trustee. The Reporting Person is reporting the securities as indirectly owned.

	/s/ Stephen S. Sypherd, Attorney-in-Fact	11/28/2025
	** 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 FS Specialty Lending Fund (FSSL) disclose?

A director of FS Specialty Lending Fund disclosed open-market purchases of common stock on November 25, 2025 and November 26, 2025, reported on a Form 4.

How many FS Specialty Lending Fund shares did the director-related trusts buy?

On November 25, 2025, one trust purchased 1,855 shares at $13.47 and another trust purchased 1,855 shares at $13.49, both reported as indirect ownership.

What was the director’s direct share purchase in FS Specialty Lending Fund?

On November 26, 2025, the director bought 7,365 shares of FS Specialty Lending Fund common stock at a price of $13.58 per share.

How many FS Specialty Lending Fund shares does the director hold directly after the transactions?

Following the November 26, 2025 transaction, the director beneficially owned 14,697.132 shares of common stock in a direct capacity.

How are the trust-held FS Specialty Lending Fund shares reported on the Form 4?

The trust transactions are reported as indirectly owned by the director, with the director as Grantor and the director’s spouse (and in one case a non-minor child) serving as Trustee.

What is the reporting person’s relationship to FS Specialty Lending Fund?

The reporting person is identified as a Director of FS Specialty Lending Fund, and the Form 4 is filed by one reporting person.