Thomas Pike - Jan 10, 2025 Form 4 Insider Report for Fortrea Holdings Inc. (FTRE)

Role
Chief Executive Officer, Director
Signature
/s/ James Stillman Hanson, Attorney-in-Fact for Thomas Pike
Stock symbol
FTRE
Transactions as of
Jan 10, 2025
Transactions value $
-$203,275
Form type
4
Date filed
1/14/2025, 06:08 PM
Previous filing
Dec 3, 2024
Next filing
Mar 3, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTRE Common Stock Options Exercise $0 +40.2K +30.72% $0.00 171K Jan 10, 2025 Direct F1
transaction FTRE Common Stock Sale -$203K -11.3K -6.58% $18.04 160K Jan 13, 2025 Direct F2, F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FTRE Restricted Stock Unit Options Exercise $0 -40.2K -12.12% $0.00 292K Jan 10, 2025 Common Stock 40.2K Direct F1, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents the contingent right to receive, at settlement, one share of Fortrea Holdings Inc. ("Fortrea") Common Stock. This transaction represents the settlement of RSUs into Common Stock on their scheduled vesting date.
F2 The sales reported on this Form 4 represent shares of Common Stock sold by the Reporting Person to cover tax withholding obligations in connection with the vesting of RSUs. These sales are mandated by the Issuer's election under its equity incentive plans to require the satisfaction of tax withholding obligations to be funded by a "sell to cover" transaction and do not represent discretionary trades by the Reporting Person.
F3 This transaction was executed in multiple trades at prices ranging from $17.73 to $18.33. The price reported in column 4 above reflects the weighted average price of the shares of Common Stock sold. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F4 This number reflects the aggregate amount of Common Stock held by the reporting person.
F5 In connection with the spin-off of Fortrea by Laboratory Corporation of America Holdings ("Labcorp"), RSUs granted by Labcorp were converted into time-vesting RSUs of Fortrea pursuant to the terms of the Employee Matters Agreement. The second installment of the RSUs vested on January 10, 2025, and the third and final installment will vest on the third anniversary of Mr. Pike's original hiring date.
F6 This number reflects the aggregate number of RSUs held by the reporting person.