FBIO · Fortress Biotech, Inc.

Represents an award of 400,000 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock. The restricted stock units vest in four equal annual installments, with the first installment vesting on January 5, 2027, subject to the Reporting Person's continued service through each applicable vesting date. Vested restricted stock units will be settled in shares of the Issuer's common stock.

Total holdings include 1,230,000 shares underlying previously granted deferred restricted stock units.

The reporting person is voluntarily reporting an acquisition of shares under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

Total holdings include 1,230,000 shares underlying deferred restricted stock units.

The Reporting Person was granted 475,424 restricted shares pursuant to the Issuer's Long-Term Incentive Plan on March 18, 2026.

The Reporting Person was granted 475,424 restricted shares pursuant to the Issuer's Long-Term Incentive Plan on March 18, 2026.

The Reporting Person was granted 27,322 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2027, 2028, and 2029, 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 on the January of the year following the Reporting Person's termination of service, or earlier upon their death or change in control of the issuer.

Total holdings include 143,365 shares underlying deferred restricted stock units.

The Reporting Person was granted 27,322 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2027, 2028, and 2029, 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 their death or change in control of the Issuer.

Total holdings include 102,668 shares underlying deferred restricted stock units.

The Reporting Person was granted 27,322 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2027, 2028, and 2029, subject to continued service.

The Reporting Person was granted 27,322 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2027, 2028, and 2029, subject to continued service. The Reporting Person elected to defer 25% 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 their death or change in control of the Issuer.

Total holdings include 52,507 shares underlying deferred restricted stock units.

The Reporting Person was granted 27,322 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2027, 2028, and 2029, 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 their death or change in control of the Issuer.

Total holdings include 76,705 shares underlying deferred restricted stock units.

The reporting person is voluntarily reporting an acquisition of shares under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

Total holdings include 1,230,000 shares underlying deferred restricted stock units.

The reporting person is voluntarily reporting an acquisition of shares under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

Total holdings include 1,230,000 shares underlying deferred restricted stock units.

The Reporting Person was granted 49,383 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2026, 2027, and 2028, 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 their death or change in control of the Issuer.

Total holdings include 49,383 shares underlying deferred restricted stock units.

The Reporting Person was granted 49,383 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2026, 2027, and 2028, 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 shares will be delivered to the Reporting Person in January of the year following the Reporting Person's termination of service, or earlier upon their death or change in control of the Issuer.

Total holdings include 58,047 shares underlying deferred restricted stock units.

The Reporting Person was granted 49,383 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2026, 2027, and 2028, subject to continued service. The reporting person elected to defer 25% 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 their death or change in control of the Issuer.

Total holdings include 45,676 shares underlying deferred restricted stock units.

The Reporting Person was granted 49,383 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2026, 2027, and 2028, subject to continued service. The reporting person elected to defer 50% 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 their death or change in control of the Issuer.

Total holdings include 75,346 shares underlying deferred restricted stock units.

The Reporting Person was granted 454,153 restricted shares pursuant to the Issuer's Long-Term Incentive Plan on January 1, 2025.

The Reporting Person was granted 49,383 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2026, 2027, and 2028, 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 on the January of the year following the Reporting Person's termination of service, or earlier upon their death or change in control of the issuer.

Total holdings include 116,043 shares underlying deferred restricted stock units.

The Reporting Person was granted 454,153 restricted shares pursuant to the Issuer's Long-Term Incentive Plan on January 1, 2025.

The Reporting Person was granted 49,383 shares of restricted stock pursuant to the Issuer's 2013 Stock Incentive Plan, as amended. One-third of the shares will vest on each of January 1, 2026, 2027, and 2028, subject to continued service.

Represents an award of 1,000,000 restricted stock units which will vest in 16 equal quarterly installments beginning after December 20, 2024. The shares underlying the restricted stock units will not be settled until the earlier of the tenth business day of January of the year following certain terminations of service of the Reporting Person from the Issuer and the consummation of a Corporate Transaction (as defined in the Fortress Biotech, Inc. 2013 Stock Incentive Plan); the amount will be distributed in the form of the Issuer's common stock.

Total holdings include 1,230,000 shares underlying deferred restricted stock units.

The reporting person is voluntarily reporting an acquisition of shares under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

Total holdings include 230,000 shares underlying deferred restricted stock units.

Reflects the weighted average sale price of multiple same-way open market sale transactions effected by the Reporting Person on the same day at different prices through a sale order executed by a broker-dealer. The Reporting Person reported on a single line all such transactions that occurred within a one-dollar price range. The range of prices for the sale transactions on July 11, 2024 was $7.35 to $7.49. The Reporting Person hereby undertakes to provide upon request by the Securities Exchange Commission staff, the Issuer, or a stockholder of the Issuer, full information regarding the number of shares sold at each separate price.

Reflects the weighted average sale price of multiple same-way open market sale transactions effected by the Reporting Person on the same day at different prices through a sale order executed by a broker-dealer. The Reporting Person reported on a single line all such transactions that occurred within a one-dollar price range. The range of prices for the sale transactions on July 9, 2024 was $7.25 to $7.48. The Reporting Person hereby undertakes to provide upon request by the Securities Exchange Commission staff, the Issuer, or a stockholder of the Issuer, full information regarding the number of shares sold at each separate price.

Reflects the weighted average sale price of multiple same-way open market sale transactions effected by the Reporting Person on the same day at different prices through a sale order executed by a broker-dealer. The Reporting Person reported on a single line all such transactions that occurred within a one-dollar price range. The range of prices for the sale transactions on July 8, 2024 was $7.29 to $7.47. The Reporting Person hereby undertakes to provide upon request by the Securities Exchange Commission staff, the Issuer, or a stockholder of the Issuer, full information regarding the number of shares sold at each separate price.

Total holdings include 50,655 shares underlying deferred restricted stock and restricted stock units.

The reporting person is voluntarily reporting an acquisition of shares under the Issuer's Employee Stock Purchase Plan in a transaction that was exempt under both Rule 16b-3(d) and Rule 16b-3(c).

Total holdings include 230,000 shares underlying deferred restricted stock units.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

One-third of the shares will vest on each of January 1, 2025, 2026, and 2027, 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 their death or change in control of the Issuer.

Total holdings include 66,660 shares underlying deferred restricted stock units.

The Reporting Person was granted 216,465 restricted shares pursuant to the Issuer's Long-Term Incentive Plan on January 1, 2024.

The Reporting Person was granted 216,465 restricted shares pursuant to the Issuer's Long-Term Incentive Plan on January 1, 2024.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

One-third of the shares will vest on each of January 1, 2025, 2026, and 2027, 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 their death or change in control of the Issuer.

Total holdings include 33,330 shares underlying deferred restricted stock units.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

One-third of the shares will vest on each of January 1, 2025, 2026, and 2027, 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 their death or change in control of the Issuer.

Total holdings include 19,998 shares underlying deferred restricted stock units.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

One-third of the shares will vest on each of January 1, 2025, 2026, and 2027, subject to continued service. The reporting person elected to defer 5,332 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 their death or change in control of the Issuer.

Total holdings include 50,655 shares underlying deferred restricted stock and restricted stock units.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

One-third of the shares will vest on each of January 1, 2025, 2026, and 2027, subject to continued service.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

One-third of the shares will vest on each of January 1, 2025, 2026, and 2027, 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 their death or change in control of the Issuer.

Total holdings include 8,664 shares underlying deferred restricted stock units.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

One-third of the shares will vest on each of January 1, 2025, 2026, and 2027, subject to continued service.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

Represents an award of 140,000 restricted stock units which will vest in 16 equal quarterly installments after the grant date, December 20, 2023. The shares underlying the restricted stock units will not be settled until the earlier of the tenth business day of January of the year following certain terminations of service of the Reporting Person from the Issuer and the consummation of a Corporate Transaction (as defined in the Fortress Biotech, Inc. 2013 Stock Incentive Plan); the amount will be distributed in the form of the Issuer's common stock.

Total holdings include 230,000 shares underlying deferred restricted stock units.

The shares of common stock and warrants to purchase common stock reflect on this Form 4 were purchased as units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock, at a price per unit of $1.70.

The shares of common stock and warrants to purchase common stock reflect on this Form 4 were purchased as units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock, at a price per unit of $1.70.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

The shares of common stock and warrants to purchase common stock reflect on this Form 4 were purchased as units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock, at a price per unit of $1.70.

Effective October 10, 2023, the Issuer effected a one-for-fifteen reverse stock split of its common stock (the "Reverse Split"). The amount of common stock reflected on this Form 4 has been adjusted to reflect the Reverse Split.

The shares of common stock and warrants to purchase common stock reflect on this Form 4 were purchased as units, each unit consisting of one share of common stock and one warrant to purchase one share of common stock, at a price per unit of $1.70.