Forbright (FRBT) Director Jason M. Fish Receives 205-Share Award

What Happened

• Jason M. Fish, a director of Forbright, Inc. (FRBT), was granted 205 deferred restricted stock units (DRSUs) on July 16, 2026. The filing lists an imputed price of $18.68 per share, valuing the award at $3,829. This was an award/compensation grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-07-16; Filing date: 2026-07-17 (filed the next day; timely).
• Award: 205 DRSUs at $18.68 per unit; total value shown $3,829.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Notable footnotes:
  • F1: These are fully vested DRSUs granted in lieu of the director's quarterly cash retainer; they will settle into shares following termination of board service (each DRSU equals a contingent right to one Class A share).
  • F2 & F3: The filing notes separate holdings by FBF Partners, L.P. and Sebastes Capital, LLC over which Fish has sole voting/dispositive power but disclaims beneficial ownership except for his pecuniary interest.
• No 10b5-1 plan, tax-withholding sale, or immediate sale of underlying shares indicated.

Context

• DRSUs are a form of deferred compensation: although fully vested, they do not convert to actual shares until a future settlement event (here, after Fish’s board service ends). Such grants are routine director compensation and are informational rather than a direct bullish/bearish signal.