Varadhan Alyssa F 4

What Happened
Alyssa F. Varadhan, a director of Forian Inc. (FORA), disposed of 5,000 common shares in connection with the company's May 15, 2026 change of control. Tendered shares were paid at the merger offer price of $2.17 per share (≈ $10,850). In addition, five derivative dispositions reported (each covering 15,000 option shares, total 75,000) reflect the cancellation/settlement of outstanding stock options under the Merger Agreement; the filing does not state the cash amounts received for those cancellations.

Key Details

• Transaction date: May 15, 2026 (Effective time of the merger/tender).
• Common share price: $2.17 per share paid in the tender offer; 5,000 shares → ≈ $10,850.
• Derivative actions: five reported dispositions of 15,000 option shares each (total 75,000) representing option cancellations/settlement under the Merger Agreement; cash consideration for these is not specified in the Form 4.
• Footnotes: Merger Agreement (Apr 2, 2026) states (a) each tendered share received $2.17, (b) vested options with exercise price below $2.17 were converted into a cash payment equal to (Offer Price − exercise price) × number of option shares, and (c) unvested options or options with exercise price ≥ $2.17 were canceled for no consideration.
• Post-transaction holdings: not disclosed in this filing.
• Timeliness: filing covers transactions on 2026-05-15 and was filed the same day (timely).

Context
These transactions are corporate-transaction driven (a tender offer and subsequent merger) rather than open-market sales. The derivative entries represent option cancellations and cash settlements per merger terms — not new stock purchases or voluntary market trades. Such filings document the mechanics and payments from the deal rather than indicate a typical insider buy/sell decision.