McGrail Caroline Strickland 4
4 · Forian Inc. · Filed May 15, 2026
Research Summary
AI-generated summary of this filing
Forian (FORA) General Counsel Caroline McGrail Surrenders 150,000 RSUs
What Happened
Caroline McGrail, General Counsel of Forian Inc. (FORA), disposed of 150,000 unvested restricted stock units (RSUs) on May 15, 2026. Per the Merger Agreement, each unvested RSU was cancelled and converted into a cash payment of $2.17 per share, totaling approximately $325,500. This was a disposition to the issuer in connection with the Merger — not an open‑market sale.
Key Details
- Transaction date: 2026-05-15. Transaction code: D (Disposition to issuer).
- Per-share cash consideration: $2.17 (footnote to Merger Agreement). Total value ≈ $325,500 (150,000 × $2.17).
- Securities surrendered: 150,000 unvested RSUs (footnote F1). Those RSUs were cancelled and converted to cash under the Merger Agreement (footnote F2).
- Shares owned after transaction: not reported in the Form 4.
- Filing timeliness: Form filed with the SEC on 2026-05-15 (same day as transaction); no late filing indicated.
Context
This transaction resulted from the merger effective May 15, 2026, where outstanding unvested RSUs were converted into cash consideration—a corporate change-driven disposition rather than a trading decision by the insider. Such merger-related cancellations are routine and do not by themselves indicate the insider’s view of the company’s public market prospects.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2]2026-05-15−150,000→ 0 total
Footnotes (2)
- [F1]Represents unvested restricted stock units ("RSU").
- [F2]Pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated April 2, 2026, by and between Forian Inc., a Maryland corporation (the "Issuer"), 2025 Acquisition Company, LLC, a Delaware limited liability company ("Parent"), and Bravo Merger Sub, Inc., a Maryland corporation and wholly owned subsidiary of Parent ("Merger Sub"), on May 15, 2026, Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent. At the effective time of the Merger (the "Effective Time"), each unvested RSU or portion thereof that was outstanding as of immediately prior to the Effective Time was cancelled and converted into a right to receive an amount in cash equal to the product of (i) the total number of shares subject to such unvested RSU immediately prior to the Effective Time multiplied by (ii) $2.17.