Forman Michael C. 4

What Happened
Michael C. Forman — trustee, chairman, president and CEO of FS Specialty Lending Fund (FSSL) — made two open-market purchases on March 6, 2026, acquiring 19,964 shares at $11.83 ($236,174) and 20,920 shares at $11.83 ($247,484), for a total of 40,884 shares purchased and $483,658 spent. These were purchases (transaction code P), which retail investors often view as a more informative signal than routine sales.

Key Details

• Transaction date(s): 2026-03-06 (reported on Form 4 filed 2026-03-10, accession 0001104659-26-025881). The filing date appears timely under the two-business-day Form 4 rule.
• Price(s): $11.83 per share.
• Shares acquired: 19,964 and 20,920 (total 40,884). Total value: $483,658.
• Shares owned after transaction: not specified in the provided excerpt.
• Footnotes of note:
  • F1/F2: Forman disclaims beneficial ownership of shares held by FS Specialty Lending Advisor, LLC and The 2011 Forman Investment Trust beyond his pecuniary interest.
  • F3: Some shares are indirectly owned by the reporting person’s spouse.
• Transaction type: Open-market purchase (P). No options, awards, or gifts involved.

Context
Open-market purchases mean the insider bought shares on the market rather than receiving awards or exercising options. The filing includes standard ownership disclaimers and indicates some holdings are indirect (advisor vehicle, trust, spouse). The report is factual transaction disclosure and does not state the insider’s motivation.