Dov Klein - Aug 5, 2021 Form 4 Insider Report for Fortress Biotech, Inc. (FBIO)

Role
Director
Signature
/s/ Samuel Berry, Attorney-in-Fact
Stock symbol
FBIO
Transactions as of
Aug 5, 2021
Transactions value $
-$12,250
Form type
4
Date filed
4/29/2022, 04:26 PM
Next filing
Jan 4, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FBIO Common Stock, par value $0.001 Other $0 +305 +0.05% $0.00 655K Aug 5, 2021 Direct F1, F2
transaction FBIO Common Stock, par value $0.001 Other $0 +480 +0.07% $0.00 656K Sep 30, 2021 Direct F1, F2
transaction FBIO Common Stock, par value $0.001 Other $0 +230 +0.04% $0.00 656K Nov 16, 2021 Direct F2, F3
transaction FBIO Common Stock, par value $0.001 Sale -$12.3K -5K -0.76% $2.45 651K Dec 28, 2021 Direct F2
transaction FBIO Common Stock, par value $0.001 Award $0 +100K +15.36% $0.00 751K Jan 1, 2022 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares were issued as a dividend pursuant to the Dividend Payment and Exchange Agreement executed by Fortress Biotech, Inc. on March 31, 2021 in favor of the holders of Journey Medical Corporation's 8% Cumulative Convertible Class A Preferred Stock.
F2 The total holdings include 480,000 shares of deferred restricted stock and 40,000 shares underlying deferred restricted stock units.
F3 The shares were issued upon the consummation of Journey Medical Corporation ("Journey's") initial public offering as a partial dividend pursuant to the Dividend Payment and Exchange Agreement executed by Fortress Biotech, Inc. on March 31, 2021 in favor of the holders of Journey's 8% Cumulative Convertible Class A Preferred Stock.
F4 One-third of the shares will vest on each of January 1, 2023, 2024 and 2025, subject to continued service. The reporting person elected to defer 80,000 of these restricted shares pursuant to the issuer's Deferred Compensation Plan for Directors and instead received deferred share units that are subject to the same vesting conditions. 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 his death or change in control of the issuer.
F5 The total holdings include 560,000 shares of deferred restricted stock and 40,000 shares underlying deferred restricted stock units.