Kassam-Adams Shahir 4

What Happened

• Shahir Kassam‑Adams, a director of Forian Inc. (FORA), had a total of 251,184 shares and option interests reported as dispositions to the issuer on May 15, 2026. The Form 4 lists dispositions of 171,184 shares, 5,000 shares, and five derivative entries of 15,000 each (75,000) — in total 251,184. No per‑share price or cash consideration is reported; these dispositions are tied to the company’s completed merger and the cancellation of stock and options.

Key Details

• Transaction date: May 15, 2026. Form filed: May 15, 2026 (timely).
• Transaction code: D (Disposition to issuer). Price: N/A; no consideration reported.
• Breakdown: 176,184 common shares (171,184 + 5,000) and 75,000 in derivative/option interests (five × 15,000) were reported as disposed/cancelled.
• Shares/options were cancelled as part of a tender offer and merger (see footnotes): Reporting person had previously contributed shares to the buyer and, at the merger’s effective time, each share held by the buyer and each option held by the reporting person were cancelled without consideration.
• Shares owned after transaction: effectively zero (all reported shares/options were cancelled).

Context

• These were not open‑market sales but disposals/cancellations resulting from a corporate transaction (tender offer and merger). For derivative entries, this effectively means stock options were cancelled rather than exercised for cash or stock. Such cancellations are procedural outcomes of M&A and do not necessarily indicate trading sentiment by the insider.