Tuppeny Elizabeth K. 4

What Happened
Elizabeth K. Tuppeny, a director of Franklin BSP Realty Trust (FBRT), was granted 12,835 restricted shares on June 8, 2026. The shares were reported at $0.00 per share (transaction code A — award/grant). This was a compensation award, not an open‑market purchase or sale.

Key Details

• Transaction date: 2026-06-08; filing date: 2026-06-10 (Form 4 accession 0001104659-26-072487). Filing appears timely.
• Grant: 12,835 restricted shares at $0.00 per share (total reported consideration $0).
• Shares owned after transaction: not disclosed on this Form 4.
• Footnote: Shares issued under the issuer’s 2021 Equity Incentive Plan; vest on the earlier of the issuer’s 2027 Annual Meeting of Stockholders or June 8, 2027 (F1).
• Transaction code: A = Award/Grant.

Context
Restricted shares are compensation subject to vesting and are typically not freely tradable until vested. Grants like this are common for directors and reflect compensation, not an immediate market bet. Because the award vests over time (by mid‑2027 per the footnote), it does not indicate a current purchase or sale of stock.