Byrne Richard J 4

What Happened

• Richard J. Byrne, Chairman & CEO (and Director) of Franklin BSP Realty Trust, received an award of 66,841 restricted stock units (RSUs) on January 27, 2026 (reported Jan 28, 2026). The award is recorded as 66,841 shares at $0.00 (code A).
• On the same date 41,207 shares were withheld to satisfy tax withholding obligations at a reported value of $10.17 per share, for a total withholding value of $419,075 (code F). The withholding relates to RSU vesting from prior awards.

Key Details

• Transaction dates: January 27, 2026 (filed January 28, 2026).
• Award: 66,841 RSUs granted @ $0.00 (no cash paid).
• Withholding: 41,207 shares withheld @ $10.17 → $419,075 withheld for taxes.
• Footnotes: F1 — RSUs vest in three equal annual installments starting January 27, 2027, subject to continued service; one share issued per RSU on vesting. F2 — The withheld shares satisfied tax obligations from RSUs awarded on Jan 27, 2023; Feb 1, 2024; and Jan 27, 2025.
• Shares owned after the transactions are not specified in the provided filing.
• Filing appears timely (reporting the Jan 27 transactions on Jan 28, 2026).

Context

• These transactions are an equity award (RSUs) and routine tax-withholding, not an open-market sale or purchase. RSU grants indicate future potential share issuance if vesting conditions are met; they are not an immediate cash purchase.
• Share withholding to cover taxes is common and does not necessarily signal the insider’s view on the stock — it’s a standard administrative step when RSUs vest.