Forbright Inc: director Sachs Lewis received 148,256 shares

What happened Sachs Lewis, a director, disposed of 148,256 shares of Class B common stock to the issuer and acquired 148,256 shares of Class A common stock on Oct 19, 2026, per the filing. Price and total value are listed as N/A.

Key details

• Transaction date: Oct 19, 2026. Transaction codes reported: D (disposition to issuer) and A (grant/award/acquisition). Price: N/A.
• Shares owned after the transaction: not reported in the filing.
• Footnote 1: the filing says GPC Partners Investments (Elevate) LP ("GPC Elevate") converted 148,256 shares of Class B into an equal number of Class A shares by exercising anti-dilution conversion rights triggered by dilutive issuances by the company during the third quarter of 2026; conversion is limited so GPC Elevate cannot convert to the extent it would beneficially own more than 9.9% of outstanding Class A common stock.
• Footnote 2: the filing says these shares are held by GPC Elevate, and describes the manager and general partner chain (Gallatin Point Capital LLC; GPC Partners GP LLC; Gallatin Point Holdings LP) and notes the reporting person and Matthew Botein are co-founders and managing partners of the ultimate parent; the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing date: Oct 21, 2026.

Why it may matter

• The filing describes a conversion of Class B shares into Class A shares by an affiliate (GPC Elevate) under anti-dilution rights, not a market sale; no cash price or proceeds are reported.
• The reported shares are held by an investment vehicle (GPC Elevate) with an ownership cap of 9.9%, and the reporting person disclaims beneficial ownership except for any pecuniary interest. A filing does not show why the insider traded or why the company acted.