Form 4: Forte Biosciences CFO Boosts Stake with Share Purchase

Forte Biosciences' Chief Financial Officer, Antony A. Riley, increased his direct ownership through a significant share purchase and RSU vesting, alongside a disposition for tax purposes.

Summary

• Antony A. Riley, Chief Financial Officer of Forte Biosciences, Inc. (FBRX), reported changes in his beneficial ownership.
• On December 30, 2025, Mr. Riley purchased 9,680 shares of Forte Biosciences Common Stock at a weighted average price of $26.3257 per share, increasing his direct ownership to 41,520 shares.
• On January 1, 2026, 375 Restricted Stock Units (RSUs) vested and converted into Common Stock, increasing his direct ownership to 41,895 shares.
• Concurrently, on January 1, 2026, 154 shares were disposed of at $27.27 per share to cover tax withholding obligations related to the RSU vesting, resulting in a post-transaction direct ownership of 41,741 shares.
• Following these transactions, Mr. Riley beneficially owns 1,500 derivative securities in the form of Restricted Stock Units.

Sentiment

Score: 7

Explanation: The sentiment is positive due to the significant insider purchase of common stock, indicating management's confidence. While there was a disposition for tax purposes, this is a routine event following RSU vesting and does not detract from the overall positive signal of the direct share acquisition.

Positives

• The Chief Financial Officer made a direct purchase of 9,680 shares of common stock, indicating confidence in the company's future prospects.
• The vesting of 375 Restricted Stock Units represents a conversion of performance-based compensation into direct equity ownership.

Negatives

• 154 shares were disposed of to satisfy tax withholding obligations upon RSU vesting, which is a standard practice but reduces direct share count.

Future Outlook

The remaining 1,500 Restricted Stock Units held by the reporting person are subject to a vesting schedule, with one-sixteenth (1/16th) of the award vesting on each Quarterly Vesting Date (January 1, April 1, July 1, and October 1) on or immediately following February 1, 2023, contingent on continued service.

Related Party Transactions

• The vesting of 375 Restricted Stock Units represents a compensation transaction between the company and its Chief Financial Officer, a related party.

Stakeholder Impact

• Shareholders may view the CFO's increased direct ownership positively, as it aligns management's interests more closely with those of the shareholders.
• Employees may see the RSU vesting as a standard component of executive compensation, reflecting performance and retention incentives.

Next Steps

• Future vesting of the remaining 1,500 Restricted Stock Units on subsequent Quarterly Vesting Dates (January 1, April 1, July 1, and October 1).

Key Dates

Recommendation

The direct purchase of a substantial number of shares by the Chief Financial Officer is a strong signal of insider confidence in Forte Biosciences' future performance and valuation. This action suggests that management believes the stock is undervalued or poised for growth, making it a compelling 'buy' signal for investors.

Keywords

FBRX, Forte Biosciences, Insider Trading, Form 4, CFO, Stock Purchase, RSU Vesting, Beneficial Ownership, Equity Incentive Plan