Form 4: FS Credit Real Estate Income Trust: Executive Forman Reports Changes in Beneficial Ownership

Michael C. Forman, President & CEO of FS Credit Real Estate Income Trust, reports changes in beneficial ownership of company stock and restricted stock units.

Summary

• Michael C. Forman, President & CEO of FS Credit Real Estate Income Trust, filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The filing indicates transactions involving Class I Common Stock and Class I Restricted Stock Units.
• Forman directly disposed of 156,800.491 shares of Class I Common Stock at $24.0719 per share.
• He also disposed of 253,072.498 shares of Class I Common Stock at $24.0719 per share.
• Forman indirectly holds shares through Franklin Square Holdings, L.P., FS Real Estate Advisor, LLC, and FSH Seed Capital Vehicle I LLC, but disclaims beneficial ownership beyond his pecuniary interest.
• The filing also mentions Class I Restricted Stock Units that will be exchanged for Class I Common Stock, subject to time-based vesting.
• The administrative services fee is split 50/50 between the Adviser and Rialto Capital Management LLC.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Future Outlook

Class I Restricted Stock Units shall be exchanged for Class I Common Stock, subject to time based vesting.

Management Comments

• The reporting person disclaims beneficial ownership of any shares held by Franklin Square Holdings, L.P., FS Real Estate Advisor, LLC and FSH Seed Capital Vehicle I LLC, a wholly owned subsidiary of Franklin Square Holdings, L.P., that exceed his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.

Key Dates

Keywords

Form 4, beneficial ownership, FS Credit Real Estate Income Trust, Michael C. Forman, Class I Common Stock, Class I Restricted Stock Units, Franklin Square Holdings, FS Real Estate Advisor, FSH Seed Capital Vehicle I LLC, Rialto Capital Management LLC