Beneficient (BENF) Director Karen Wendel Receives RSU Awards

What Happened

• Karen Wendel, a director of Beneficient (BENF), received two equity awards on September 18, 2026. The Form 4 reports awards for 32,960 restricted stock units (RSUs) and 44,016 RSUs, each recorded at $0.00 acquisition price because they are equity awards that convert into shares upon settlement. Together the grants total 76,976 RSUs, and both the 32,960 and 44,016 awards fully vested on the grant date. The 44,016-RSU award was granted as compensation for prior service (Nov 22, 2025–Mar 31, 2026).

Key Details

• Transaction date(s): September 18, 2026
• Transactions reported as: A = Award/Grant (RSUs)
• Amounts: 32,960 RSUs (F1) and 44,016 RSUs (F3); both vested on grant; aggregate = 76,976 RSUs
• Price: $0.00 per share (typical for RSU grants; value equals market value of shares when settled)
• Shares owned after transaction: Not specified/disclosed in the Form 4
• Relevant footnotes:
  • F1: 32,960 RSUs granted and vested on 9/18/2026.
  • F2: Filing notes an earlier award of 25,914 RSUs (from 11/21/2024) that vested in quarterly installments over one year—this relates to holdings, not the 9/18 grants.
  • F3: 44,016 RSUs granted on 9/18/2026 in satisfaction of prior service; fully vested on grant.
• Timeliness: Filing date 2026-09-22 for transactions on 2026-09-18; filing falls within the standard Form 4 reporting window and is not indicated as late.

Context

• RSUs are awards that entitle the holder to receive shares (or their cash equivalent) upon settlement; because these RSUs fully vested on grant, they represent immediate entitlement to shares subject to settlement mechanics. This is an award (compensation) rather than an open-market buy or a sale, so it primarily reflects director compensation rather than a direct signal of buying/selling sentiment.