FRANK ELIZABETH F 4

What Happened

• Elizabeth F. Frank, a director of FrontView REIT (FVR), had 7,895 restricted stock units (RSUs) vest and settle into shares on May 26, 2026. The Form 4 shows the RSU conversion as a derivative exercise/conversion (code M) with $0 proceeds reported for the derivative disposal (i.e., no cash sale recorded).
• On May 27, 2026, Frank was granted 5,320 LTIP Units (a derivative award under the company’s 2024 Omnibus Equity and Incentive Plan). These LTIP Units are a long‑term incentive that can convert to partnership units and ultimately be redeemable for cash or shares per the partnership agreement.

Key Details

• Transaction dates and amounts:
  • May 26, 2026: Settlement of 7,895 RSUs into shares (exercise/conversion, reported as acquired; derivative disposal reported at $0.00).
  • May 27, 2026: Grant of 5,320 LTIP Units (award/grant).
• Prices/values: no cash purchase or sale proceeds reported; the derivative disposal line shows $0.00. No dollar values are disclosed in the filing.
• Shares owned after transaction: not disclosed in the provided data.
• Relevant footnotes: RSUs convert one-for-one to common shares upon vesting (F1–F2). LTIP Units are units of limited partnership interest, convertible to OP Units and redeemable for cash equal to the fair market value of a share (or for shares at the issuer’s election); LTIP Units vest in full on the earlier of the first anniversary of issuance or the day before the issuer’s first qualifying annual meeting (subject to continued service) (F3–F5).
• Filing timeliness: Form 4 was filed May 28, 2026 for transactions on May 26–27, 2026 — filed within the usual 2‑business‑day window (timely).

Context

• The RSU settlement represents receipt of company stock rather than a market sale; the $0.00 derivative disposal line reflects conversion/settlement, not a cash sale.
• The LTIP Units are a deferred/contingent equity award with vesting conditions (generally around one year) and may convert to units redeemable for cash or shares later; they are not immediately tradable common shares.
• These transactions are routine equity compensation events for insiders and do not by themselves indicate the insider’s trading intent.