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Biofrontera Inc.·4

Mar 6, 9:30 PM ET

Leffler Eugene Frederick 4

4 · Biofrontera Inc. · Filed Mar 6, 2026

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Biofrontera (BFRI) CFO Eugene Leffler Receives RSU Awards, Settles Prior RSUs

What Happened Eugene Leffler, Chief Financial Officer of Biofrontera Inc. (BFRI), received two restricted stock unit (RSU) awards on March 4, 2026 totaling 125,000 RSUs (62,500 + 62,500) at $0.00 per unit. On March 5, 2026 the filing also shows a conversion/settlement of 87,500 derivative units (reported as both an acquisition and a disposition of 87,500 shares at $0.00). The filing reports no cash exchange for the new RSU awards or the March 5 transactions.

Key Details

  • Transactions reported: Mar 4, 2026 — grant/award of 62,500 RSUs and 62,500 RSUs (total 125,000) at $0.00; Mar 5, 2026 — conversion/exercise entries for 87,500 derivative securities (one acquisition and one disposition) at $0.00.
  • Value: The grants and conversions are reported at $0.00 (awarded for no cash consideration; settlement may be in shares or cash per company policy).
  • Shares owned after transaction: Not specified in the Form 4 provided.
  • Notable footnotes:
    • RSUs convert one-for-one into common stock (F1).
    • New RSUs are contingent awards and were granted for no consideration (F2).
    • The new RSUs vest in two equal yearly installments beginning March 4, 2027 and, when vested, may be settled in shares, cash, or a combination within 60 days (F3).
    • The 87,500 settled on March 5, 2026 relates to the second tranche of a July 12, 2024 RSU grant that was settled on March 5, 2026 due to an administrative error (F5).
  • Filing timeliness: Form 4 was filed on March 6, 2026. The filing does not indicate a late-reporting legend.

Context

  • These transactions are primarily equity awards (RSUs) rather than open-market buys or sales. The March 5 entries reflect settlement/conversion of previously awarded RSUs (per footnote F5) and the filing shows equal acquisition and disposition entries at $0.00, consistent with administrative settlement/withholding mechanics rather than a market sale. Awards and RSU vesting schedules are disclosed; vested units may be settled in shares or cash at the company's discretion.

Insider Transaction Report

Form 4
Period: 2026-03-04
Biofrontera Inc.BFRI
Leffler Eugene Frederick
Chief Financial Officer
Transactions
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-03-05+87,500→ 175,000 total
  • Award

    Restricted Stock Units

    [F2][F3][F6]
    2026-03-04+62,500→ 62,500 total
    → Common Stock (62,500 underlying)
  • Award

    Employee stock option (right to buy)

    [F4][F7]
    2026-03-04+62,500→ 62,500 total
    Exercise: $0.90Exp: 2036-03-04→ Common Stock (62,500 underlying)
  • Exercise/Conversion

    Restricted Stock Units

    [F1][F5][F6]
    2026-03-05−87,500→ 0 total
    → Common Stock (87,500 underlying)
Footnotes (7)
  • [F1]Restricted stock units convert into common stock on a one-for-one basis.
  • [F2]Each restricted stock unit represents a contingent right to receive one share of BFRI common stock, subject to the company's discretion to settle the restricted stock units, in whole or in part, in cash, as discussed below in footnote 3. The reporting person received the restricted stock units as an award for no consideration.
  • [F3]The restricted stock units vest in two equal yearly installments for the first two years following the grant date, beginning on March 4, 2027. Each vested restricted stock unit will be settled, at the Company's discretion, in shares, cash or a combination of shares and cash within 60 days of the vesting date.
  • [F4]The option vests in two equal installments, the first of which will take place on September 4, 2026 and the second of which will take place on March 4, 2027.
  • [F5]On July 12, 2024 the reporting person was granted 175,000 restricted stock units, vesting in two equal semi-annual installments with the first tranche vesting on January 12, 2025 and the second tranche on July 12, 2025, with each to be settled, at the Company's discretion, in shares, cash or a combination of shares and cash within 60 days of the vesting date. A Form 4 filed by the reporting person on September 16, 2025 incorrectly identified the vesting schedule for these restricted stock units as being "two equal annual installments beginning on July 12, 2025." Relatedly, due to an administrative error, the first tranche was settled on September 10, 2025 and the second tranche was settled on March 5, 2026.
  • [F6]Restricted stock units with different terms are not included.
  • [F7]Options with different terms are not included
Signature
/s/ Daniel Hakansson, Attorney-in-fact for Eugene Frederick Leffler III|2026-03-06

Documents

1 file
  • 4
    ownership.xmlPrimary

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