Franklin BSP Realty Trust Reappoints CEO; Co‑President Named

What Happened

• On September 16, 2026 Franklin BSP Realty Trust, Inc. (FBRT) reappointed Richard J. Byrne as Chief Executive Officer, effective immediately. Mr. Byrne succeeds Michael Comparato, who resigned as CEO on September 15, 2026. Byrne previously served as FBRT CEO from 2016 until February 2026 and will continue to serve as Chairman of the Board.
• Also on September 16, 2026 the Board appointed Jerome S. Baglien (the Company’s Chief Financial Officer and Chief Operating Officer) to serve as Co‑President, effective immediately. The company issued a press release on September 17, 2026 about the management transition (filed as Exhibit 99.1 to the 8‑K). Comparato will continue to serve as an advisor to Benefit Street Partners L.L.C., the Company’s external advisor.

Key Details

• Richard J. Byrne reappointed CEO, effective Sept 16, 2026; remains Chairman.
• Michael Comparato resigned as CEO on Sept 15, 2026; will act as advisor to Benefit Street Partners L.L.C.
• Jerome S. Baglien (CFO & COO) appointed Co‑President, effective Sept 16, 2026.
• Press release dated Sept 17, 2026 was furnished as Exhibit 99.1 to the Form 8‑K.

Why It Matters

• This 8‑K reports a material leadership change: a former CEO (Byrne) returns to lead the company while the outgoing CEO remains linked to the company’s external advisor. That signals continuity in governance and ongoing ties with Benefit Street Partners.
• The appointment of the CFO/COO as Co‑President may affect day‑to‑day operations and execution of strategy. The filing does not disclose financial results, changes to compensation, or other strategic shifts; investors should watch for further disclosures and the company’s communications for details on any changes in strategy or governance.