Lucy Lu - Jan 1, 2023 Form 4 Insider Report for Fortress Biotech, Inc. (FBIO)

Role: Director
Signature: /s/ Samuel Berry, Attorney-in-Fact
Stock symbol: FBIO
Transactions as of: Jan 1, 2023
Transactions value $: $0
Form type: 4
Date filed: 1/4/2023, 08:27 PM
Previous filing: Dec 19, 2022
Next filing: Feb 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FBIO	COMMON STOCK, PAR VALUE $0.001	Award	$0	+50K	+70.03%	$0.00	121K	Jan 1, 2023	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	One-third of the shares will vest on each of January1, 2024, 2025 and 2026, subject to continued service. The Reporting Person elected to defer 100% 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 her death or change in control of the Issuer.
F2	The total holdings include 50,000 shares underlying deferred restricted stock units.

Content

One-third of the shares will vest on each of January1, 2024, 2025 and 2026, subject to continued service. The Reporting Person elected to defer 100% 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 her death or change in control of the Issuer.

The total holdings include 50,000 shares underlying deferred restricted stock units.