FS Specialty Lending director buys FSSL shares

FS Specialty Lending Fund director Michael C. Forman reported open-market purchases of FSSL common stock through retirement accounts.

Rhea-AI Filing Summary

FS Specialty Lending Fund director Michael C. Forman reported open-market purchases of FSSL common stock through retirement accounts. On March 6, 2026, an IRA associated with him bought 19,964 shares at $11.83 per share, and an IRA held by his spouse bought 20,920 shares at the same price, both reported as indirect ownership.

After these trades, his IRA held 97,744 shares, his spouse’s IRA held 20,920 shares, and additional direct and indirect holdings were reported, including 73,234.891 directly held shares and positions via an advisor entity and a family trust. Footnotes state he disclaims beneficial ownership beyond his pecuniary interest in the advisor and trust holdings.

Insider Trade Summary

Net Buyer: 40,884 shares

Net Buy 5 txns

Insider Forman Michael C.

Role See Remarks

Bought 40,884 shs ($484K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	19,964	$11.83	$236K
Purchase	Common Stock	20,920	$11.83	$247K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 97,744 shares (Indirect, IRA); Common Stock — 20,920 shares (Indirect, Jennifer Rice's IRA); Common Stock — 73,234.891 shares (Direct); Common Stock — 1 shares (Indirect, FS Specialty Lending Fund, Advisor, LLC); Common Stock — 8,588 shares (Indirect, Trust)

Footnotes (3)

1. F1. 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.
2. F2. The reporting person is a member of The 2011 Forman Investment Trust. The reporting person disclaims beneficial ownership of any shares held by The 2011 Forman Investment Trust 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 of the reported shares for purposes of Section 16 or any other purpose.
3. F3. Shares are indirectly owned by the reporting person's spouse.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did FSSL director Michael C. Forman report?

Michael C. Forman reported two open-market purchases of FS Specialty Lending Fund common stock on March 6, 2026. IRAs associated with him and his spouse bought a combined 40,884 shares at $11.83 per share, all reported as indirect ownership.

How many FSSL shares were bought in the IRAs, and at what price?

An IRA associated with Michael C. Forman bought 19,964 shares, and his spouse’s IRA bought 20,920 shares, both at $11.83 per share. These purchases are coded as open-market transactions and increase their respective indirect holdings in FS Specialty Lending Fund.

What are Michael C. Forman’s IRA holdings in FSSL after the transactions?

Following the March 6, 2026 trades, Forman’s IRA held 97,744 shares of FS Specialty Lending Fund common stock. His spouse’s IRA held 20,920 shares. Both positions are reported as indirect ownership in the Form 4 filing data.

What other FSSL share holdings are reported for Michael C. Forman?

Besides IRA positions, the filing shows 73,234.891 shares held directly, plus smaller indirect holdings through an advisor entity and a trust. Footnotes explain he may not have full beneficial ownership of all advisor and trust shares beyond his pecuniary interest.

How does the Form 4 describe beneficial ownership for advisor and trust FSSL shares?

Footnotes state Michael C. Forman disclaims beneficial ownership of any shares held by FS Specialty Lending Advisor, LLC or The 2011 Forman Investment Trust that exceed his pecuniary interest. Including these shares in the report is not an admission of full beneficial ownership.

Are the FSSL purchases by Michael C. Forman routine or part of a derivative exercise?

The reported FSSL trades are open-market purchases of common stock, coded as transaction type “P.” The filing shows no derivative exercises and lists these as non-derivative transactions, increasing indirect shareholdings in the IRAs rather than converting options or similar instruments.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/10/2026 - 04:26 PM EDT Learn about SEC filing dates

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

3025 JFK BOULEVARD, OFC 500

(Street)

PHILADELPHIA PA 19104

(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)
03/06/2026

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	03/06/2026		P		19,964	A	$11.83	97,744	I	IRA
Common Stock								8,588	I	Trust(2)
Common Stock	03/06/2026		P		20,920	A	$11.83	20,920	I	Jennifer Rice's IRA(3)

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.

2. The reporting person is a member of The 2011 Forman Investment Trust. The reporting person disclaims beneficial ownership of any shares held by The 2011 Forman Investment Trust 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 of the reported shares for purposes of Section 16 or any other purpose.

3. Shares are indirectly owned by the reporting person's spouse.

Remarks:

Trustee, Chairman, President and Chief Executive Officer

	/s/ Stephen S. Sypherd, Attorney-in-Fact	03/10/2026
	** 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.