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Mcconnell Jill G. reported acquisition or exercise transactions in this Form 4 filing.
Fortrea Holdings Inc. reported new equity awards for its Chief Financial Officer, Jill G. Mcconnell. On March 6, 2026, she received 88,450 Restricted Stock Units, each representing one future share of common stock, bringing her total RSUs to 171,414.
The RSUs vest in three substantially equal annual installments beginning on March 6, 2027. She was also granted 66,667 Performance Stock Units, each tied to one share of common stock and vesting based on the stock reaching specified prices at the end of a three-year performance period.
FTRE reported a proposed sale of 4,599 shares of Common Stock via a Form 144 notifying the broker of an intended disposition tied to restricted stock vesting on 03/09/2026.
The filing also records a past disposition of 1,179 common shares on 02/10/2026 by Mark A. Morais.
Jill G. Mcconnell filed a Form 144 reporting a sale of 881 shares of Common Stock on 02/10/2026 and listing 5,061 restricted shares tied to a vesting event dated 03/09/2026 as securities to be sold in connection with compensation.
Fortrea Holdings Inc. is a global contract research organization providing phase I–IV clinical trial management, clinical pharmacology and consulting services to pharmaceutical, biotechnology and medical device companies. The company operates in about 100 countries with approximately 14,300 employees and one reporting segment, Clinical Services.
Fortrea, spun off from Labcorp, highlights strengths in oncology, where 40% of 2025 full-service therapeutic revenue came from oncology studies, and an estimated $41 billion addressable share of a forecast ~$145 billion 2026 clinical development market. It notes customer concentration, funding dependence, regulatory, data privacy, technology and cybersecurity risks as key challenges.
Fortrea Holdings reported fourth-quarter 2025 revenue of $660.5 million and full‑year revenue of $2,723.4 million, roughly flat versus 2024. Fourth‑quarter GAAP net loss narrowed to $32.5 million, while full‑year GAAP net loss widened sharply to $986.2 million.
The full‑year loss was driven largely by a non‑cash goodwill impairment charge of $797.9 million recorded in the first half of 2025. Excluding this and other adjustments, full‑year adjusted net income was $40.4 million and adjusted EBITDA was $189.9 million. Free cash flow for 2025 was $88.3 million, and year‑end cash stood at $174.6 million against gross debt of $1,066.3 million.
Operationally, Fortrea reported a fourth‑quarter book‑to‑bill ratio of 1.14x and a trailing 12‑month book‑to‑bill of 1.02x, with backlog of $7,728.0 million at December 31, 2025. For 2026, the company targets revenue of $2,550 million to $2,650 million and adjusted EBITDA of $190 million to $220 million.
Fortrea Holdings Inc. (FTRE) received an updated Schedule 13G/A from Sessa Capital entities and John Petry reporting a passive ownership position. The group reports beneficial ownership of 3,993,550 shares of Fortrea common stock, representing 4.32% of the outstanding class as of the reported date.
The reporting persons state they have no sole voting or dispositive power over these shares, but share voting and dispositive power over the full 3,993,550 shares. They certify the holdings are not intended to change or influence control of Fortrea.
Fortrea Holdings Inc.'s Chief Operating Officer, Mark A. Morais, reported routine equity compensation activity. On February 9, 2026, 2,255 Restricted Stock Units vested and were settled into the same number of common shares at an exercise price of $0.
On February 10, 2026, he sold 589 shares at $13.65 and 590 shares at $14.11 in transactions described as mandated "sell to cover" sales to satisfy tax withholding obligations related to the RSU vesting, not discretionary trades. After these transactions, he directly held 58,052 common shares, indirectly held 4,625 shares through his spouse, and beneficially owned 79,221 RSUs.
Fortrea Holdings Inc. Chief Financial Officer Jill G. McConnell reported equity award activity and related share sales. On February 9, 2026, 1,685 Restricted Stock Units vested and were settled into the same number of shares of common stock at an exercise price of $0.
On February 10, 2026, she sold 440 shares of common stock at a weighted average price of $13.65 and 441 shares at a weighted average price of $14.11. Footnotes state these sales were “sell to cover” transactions mandated to satisfy tax withholding obligations in connection with the RSU vesting, not discretionary trades. After these transactions, she held 59,574 shares of common stock and 82,964 RSUs directly.
A holder of FTRE common stock filed a notice to sell 881 shares of common stock under Rule 144 through Fidelity Brokerage Services on or about February 10, 2026 on NASDAQ, with an aggregate market value of $12,230.22.
The 881 shares were acquired as restricted stock vesting from the issuer on February 9, 2026, treated as compensation. The notice states that the person selling the securities does not know of any material adverse, nonpublic information about the issuer’s current or prospective operations.