22NW Fund trims FOSTER L B CO (FSTR) stake with 107,019-share sale

Rhea-AI Filing Summary

FOSTER L B CO major shareholder group reports recent stock sales. Investment entity 22NW Fund, LP, together with related reporting persons including Aron English, disclosed open-market sales of a total of 107,019 shares of FOSTER L B CO common stock over three days at prices around $28 per share.

After these transactions, 22NW Fund, LP is shown holding 1,078,903 shares indirectly, while Aron English also holds 905 shares directly. The reporting persons note they may be deemed a group owning more than 10% of the company’s common stock and disclaim beneficial ownership beyond their economic interest.

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^*

English Aron R.

(Last) (First) (Middle)

590 1ST AVE. S

UNIT C1

(Street)

SEATTLE WASHINGTON 98104

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
FOSTER L B CO [ FSTR ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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(1)	03/23/2026		S		78,414	D	$28.5103(2)	1,107,508	I	By: 22NW Fund, LP(3)
Common Stock(1)	03/24/2026		S		25,889	D	$28.1864(4)	1,081,619	I	By: 22NW Fund, LP(3)
Common Stock(1)	03/25/2026		S		2,716	D	$28.086(5)	1,078,903	I	By: 22NW Fund, LP(3)
Common Stock(1)								905	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

1. Name and Address of Reporting Person^*

English Aron R.

(Last) (First) (Middle)

590 1ST AVE. S

UNIT C1

(Street)

SEATTLE WASHINGTON 98104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

22NW, LP

(Last) (First) (Middle)

590 1ST AVE. S

UNIT C1

(Street)

SEATTLE WASHINGTON 98104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

22NW Fund, LP

(Last) (First) (Middle)

590 1ST AVE. S

UNIT C1

(Street)

SEATTLE WASHINGTON 98104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

22NW Fund GP, LLC

(Last) (First) (Middle)

590 1ST AVE. S

UNIT C1

(Street)

SEATTLE WASHINGTON 98104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

22NW GP, Inc.

(Last) (First) (Middle)

590 1ST AVE. S

UNIT C1

(Street)

SEATTLE WASHINGTON 98104

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 is filed jointly by 22NW Fund, LP ("22NW Fund"), 22NW, LP ("22NW"), 22NW Fund GP, LLC ("22NW GP"), 22NW GP, Inc. ("22NW Inc.") and Aron English (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

2. Represents a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.0000 to $29.0000, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold in each transaction.

3. Securities owned directly by 22NW Fund. As the investment manager to 22NW Fund, 22NW may be deemed to beneficially own the securities owned directly by 22NW Fund. As the general partner of 22NW Fund, 22NW GP may be deemed to beneficially own the securities owned directly by 22NW Fund. As the general partner of 22NW, 22NW Inc. may be deemed to beneficially own the securities owned directly by 22NW Fund. Mr. English, as the Portfolio Manager of 22NW, Manager of 22NW GP and President and sole shareholder of 22NW Inc., may be deemed to beneficially own the securities owned directly by 22NW Fund.

4. Represents a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.0000 to $28.7350, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold in each transaction.

5. Represents a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.0000 to $28.5000, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold in each transaction.

	/s/ Aron R. English	03/25/2026
	22NW Fund, LP; By: 22NW Fund GP, LLC; By: /s/ Aron R. English, Manager	03/25/2026
	22NW, LP; By: 22NW GP, Inc.; By: /s/ Aron R. English, President and Sole Shareholder	03/25/2026
	22NW Fund GP, LLC; By: /s/ Aron R. English, Manager	03/25/2026
	22NW GP, Inc., By: /s/ Aron R. English, President and Sole Shareholder	03/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did 22NW Fund report in FOSTER L B CO (FSTR)?

22NW Fund, LP and related reporting persons reported selling 107,019 shares of FOSTER L B CO common stock in open-market transactions. These sales occurred over three days and were executed at prices around $28 per share, according to the Form 4 filing.

How many FSTR shares did 22NW-related entities hold after the reported sales?

After the reported sales, 22NW Fund, LP is shown holding 1,078,903 FOSTER L B CO common shares indirectly. The filing also shows Aron English with 905 shares held directly, providing a snapshot of their combined reported position following these transactions.

On what dates did the 22NW Fund sales of FOSTER L B CO stock occur?

The reported FOSTER L B CO stock sales occurred on March 23, 24, and 25, 2026. Across these three trading days, 22NW Fund, LP executed open-market dispositions of common shares at various prices, as detailed in the Form 4 transaction table.

What prices were received for the FSTR shares sold by 22NW Fund?

The reported sales were open-market transactions at prices around $28 per share, including weighted average prices such as $28.5103, $28.1864, and $28.0860. Footnotes note that individual trades occurred within stated price ranges for each day.

Who are the reporting persons in the FSTR Form 4 filed with 22NW Fund?

The Form 4 lists 22NW Fund, LP, 22NW, LP, 22NW Fund GP, LLC, 22NW GP, Inc., and Aron English as reporting persons. The filing explains their investment manager and general partner relationships and notes that each disclaims beneficial ownership beyond their pecuniary interest.

Does the FSTR Form 4 indicate direct or indirect ownership for these shares?

Most reported FOSTER L B CO shares are owned directly by 22NW Fund, LP and thus treated as indirect ownership for other reporting persons. The filing also shows 905 common shares held directly, reflecting one reporting person’s personal stake separate from the fund’s larger indirect position.