Chhibbar Gaurav 4

What Happened

• Gaurav Chhibbar, Chief Operating Officer of Friedman Industries (FRD), received a grant of 15,000 restricted shares on June 3, 2026. The shares were reported at $0.00 per share (grant award), so no cash was exchanged.
• This was an equity compensation award (not a market purchase or sale) typically used for retention and incentive purposes.

Key Details

• Transaction date: 2026-06-03; Filing date (Form 4): 2026-06-22.
• Grant: 15,000 restricted shares; reported acquisition price $0.00 (value at grant not stated in filing).
• Shares owned after transaction: not specified in the provided filing.
• Vesting (per filing footnote): half of the shares vest in equal amounts each year for three years beginning April 1, 2026; the other half vest based on multi-year performance criteria (earnings before tax and measures of accounts receivable, inventory and PP&E) over a three-year period starting April 1, 2026. All vesting is subject to continued employment.
• Timeliness: The Form 4 was filed June 22 for a June 3 grant. Form 4s are normally due within two business days of the reportable transaction, so this filing appears late.

Context

• This is an award of restricted stock as executive compensation, not a buy or sell signal. Restricted shares typically vest over time or upon meeting performance targets and are commonly used to align executive incentives with company performance.
• Because half the award is performance-conditioned, the ultimate number of vested shares will depend on the company meeting specified targets and the insider remaining employed.