Form 4: Fortress Biotech Director J Jay Lobell Receives Restricted Stock Grant

Director J Jay Lobell of Fortress Biotech, Inc. was granted 49,383 shares of restricted stock on January 1, 2025, under the company's 2013 Stock Incentive Plan.

Summary

• On January 1, 2025, J Jay Lobell, a director of Fortress Biotech, Inc., received a grant of 49,383 shares of restricted stock.
• The grant was made under the Issuer's 2013 Stock Incentive Plan, as amended.
• The shares vest in three equal installments on January 1, 2026, 2027, and 2028, contingent upon continued service.
• Lobell elected to defer 100% of these restricted shares and instead received deferred share units with the same vesting conditions.
• Vested deferred shares will be delivered in January following termination of service, or earlier upon death or change in control of the Issuer.
• Following the transaction, Lobell beneficially owns 165,075 shares of Fortress Biotech, Inc., including 49,383 shares underlying deferred restricted stock units.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice, indicating stability and alignment of interests. It's a neutral to slightly positive event.

Positives

• The grant of restricted stock aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and commitment to the company.

Future Outlook

Vested deferred shares will be delivered to the Reporting Person in January of the year following the Reporting Person's termination of service, or earlier upon their death or change in control of the Issuer.

Industry Context

Stock grants to directors are a common practice in the biotech industry to incentivize performance and align interests with shareholders.

Stakeholder Impact

• Shareholders may view the stock grant as a positive sign of aligning management's interests with their own.
• The vesting schedule incentivizes the director to remain with the company, potentially benefiting employees and other stakeholders.

Key Dates