Dublin Adam H 4

What Happened

• Adam H. Dublin, Chief Strategy Officer and Director of Forian Inc. (FORA), recorded dispositions of a total of 4,537,059 shares on May 15, 2026 in connection with Forian’s completed tender offer and merger. The filing shows three dispositions to the issuer (2,455,533; 250,000; and 1,831,526 shares). Common shares held by Parent were cancelled without consideration; unvested restricted stock units (RSUs) were cancelled and converted into a cash right at $2.17 per share as described in the filing. Transaction reporting lists price/proceeds for the cancelled shares as N/A.

Key Details

• Transaction date: May 15, 2026 (Effective Time of the merger/tender offer).
• Aggregate shares disposed/cancelled: 4,537,059 (2,455,533 + 250,000 + 1,831,526).
• Price/proceeds: Common shares held by Parent were cancelled without consideration (N/A); unvested RSUs were converted into a cash payment equal to $2.17 per share (per-footnote).
• Shares owned after transaction: Reporting indicates the reporting person contributed shares to Parent and those shares were cancelled at the Effective Time (effectively no remaining common shares reported).
• Notable footnotes: (F1) Reporting person contributed all their common shares to Parent under a consortium amendment; (F2) Parent completed a tender offer and merged Merger Sub into Forian, cancelling Parent-held shares; (F3/F4) unvested RSUs were converted to cash at $2.17/share; (F5) some shares were held in a trust for the reporting person’s children (spouse is co‑trustee).
• Filing timeliness: Report filed May 15, 2026 (same date as the transaction) — appears timely.

Context

• These dispositions resulted from a corporate transaction (tender offer and merger) and are not open‑market sales. The cancellation of shares held by Parent (no consideration) and the cash-out of unvested RSUs at a fixed price are standard merger mechanics and should not be read as a conventional insider sell/buy signal.