Gary Keiser - Oct 19, 2021 Form 4 Insider Report for Franklin BSP Realty Trust, Inc. (FBRT)

Role: Director
Signature: /s/ Gary Keiser, By: Micah Goodman, Attorney-in-Fact
Stock symbol: FBRT
Transactions as of: Oct 19, 2021
Transactions value $: $0
Form type: 4
Date filed: 10/21/2021, 05:16 PM
Previous filing: Jul 30, 2021
Next filing: Feb 22, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FBRT	Common Stock	Award		+30.8K			30.8K	Oct 19, 2021	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On October 19, 2021, pursuant to the certain Agreement and Plan of Merger, dated as of July 25, 2021, as amended pursuant to that certain First Amendment to Agreement and Plan of Merger, dated as of September 22, 2021 (as amended, the "Merger Agreement"), by and among the Issuer, Rodeo Sub I, LLC ("Merger Sub"), Capstead Mortgage Corporation ("Capstead") and, solely for the purposes set forth therein, Benefit Street Partners L.L.C., Capstead merged with and into Merger Sub (the "Merger"), with Merger Sub surviving the Merger as a wholly owned subsidiary of the Issuer. At the effective time of the merger, each share of Capstead common stock outstanding immediately prior to the effective time was converted into the right to receive 0.3288 shares of the Issuer's common stock as well as aggregate cash consideration of $0.94 per share.
F2	Received in exchange for 93,628 shares of Capstead's common stock in the Merger. The closing price of Capstead's common stock on the day before the effective date of the Merger was $6.50, and the closing price of the Issuer's common stock on the effective date of the Merger was $17.10.

Content

On October 19, 2021, pursuant to the certain Agreement and Plan of Merger, dated as of July 25, 2021, as amended pursuant to that certain First Amendment to Agreement and Plan of Merger, dated as of September 22, 2021 (as amended, the "Merger Agreement"), by and among the Issuer, Rodeo Sub I, LLC ("Merger Sub"), Capstead Mortgage Corporation ("Capstead") and, solely for the purposes set forth therein, Benefit Street Partners L.L.C., Capstead merged with and into Merger Sub (the "Merger"), with Merger Sub surviving the Merger as a wholly owned subsidiary of the Issuer. At the effective time of the merger, each share of Capstead common stock outstanding immediately prior to the effective time was converted into the right to receive 0.3288 shares of the Issuer's common stock as well as aggregate cash consideration of $0.94 per share.

Received in exchange for 93,628 shares of Capstead's common stock in the Merger. The closing price of Capstead's common stock on the day before the effective date of the Merger was $6.50, and the closing price of the Issuer's common stock on the effective date of the Merger was $17.10.