Franklin BSP Realty Trust, Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: FBRT-PE · Form: DEF 14A · Filed: Apr 17, 2024 · CIK: 1562528

Franklin Bsp Realty Trust, Inc. DEF 14A Filing Summary
FieldDetail
CompanyFranklin Bsp Realty Trust, Inc. (FBRT-PE)
Form TypeDEF 14A
Filed DateApr 17, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$5 billion, $35 million, $818 million, $0.355, $1.5 billion
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, DEF 14A, Franklin BSP Realty Trust, Corporate Governance, Shareholder Meeting

TL;DR

<b>Franklin BSP Realty Trust, Inc. has filed its Definitive Proxy Statement for the upcoming reporting period.</b>

AI Summary

Franklin BSP Realty Trust, Inc. (FBRT-PE) filed a Proxy Statement (DEF 14A) with the SEC on April 17, 2024. Franklin BSP Realty Trust, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 17, 2024. The filing covers the period ending May 29, 2024. The company was formerly known as Benefit Street Partners Realty Trust, Inc. (name change Feb 3, 2017). Previous name changes include Realty Finance Trust, Inc. (Feb 17, 2015) and ARC Realty Finance Trust, Inc. (Nov 19, 2012). The company's principal business address is 1345 Avenue of the Americas, Suite 32A, New York, NY 10105.

Why It Matters

For investors and stakeholders tracking Franklin BSP Realty Trust, Inc., this filing contains several important signals. This filing is a standard regulatory requirement for public companies, providing shareholders with information necessary to vote on corporate matters. The DEF 14A details executive compensation, board nominations, and other governance issues, which are crucial for investor decision-making and understanding management's alignment with shareholder interests.

Risk Assessment

Risk Level: low — Franklin BSP Realty Trust, Inc. shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant operational changes.

Analyst Insight

Review the proxy statement for details on executive compensation, board proposals, and any shareholder voting recommendations.

Key Numbers

  • 2024-05-29 — Reporting Period End (Conformed period of report)
  • 2024-04-17 — Filing Date (Conformed submission type date)
  • 2017-02-03 — Name Change Date (Date of name change from Benefit Street Partners Realty Trust, Inc.)
  • 2015-02-17 — Name Change Date (Date of name change from Realty Finance Trust, Inc.)
  • 2012-11-19 — Name Change Date (Date of name change from ARC Realty Finance Trust, Inc.)

Key Players & Entities

  • Franklin BSP Realty Trust, Inc. (company) — Filer name
  • Benefit Street Partners Realty Trust, Inc. (company) — Former company name
  • Realty Finance Trust, Inc. (company) — Former company name
  • ARC Realty Finance Trust, Inc. (company) — Former company name
  • 1345 AVENUE OF THE AMERICAS, SUITE 32A (company) — Business address
  • New York (company) — Business address city
  • 10105 (company) — Business address zip
  • 2024-04-17 (date) — Filing date

FAQ

When did Franklin BSP Realty Trust, Inc. file this DEF 14A?

Franklin BSP Realty Trust, Inc. filed this Proxy Statement (DEF 14A) with the SEC on April 17, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Franklin BSP Realty Trust, Inc. (FBRT-PE).

Where can I read the original DEF 14A filing from Franklin BSP Realty Trust, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Franklin BSP Realty Trust, Inc..

What are the key takeaways from Franklin BSP Realty Trust, Inc.'s DEF 14A?

Franklin BSP Realty Trust, Inc. filed this DEF 14A on April 17, 2024. Key takeaways: Franklin BSP Realty Trust, Inc. filed a Definitive Proxy Statement (DEF 14A) on April 17, 2024.. The filing covers the period ending May 29, 2024.. The company was formerly known as Benefit Street Partners Realty Trust, Inc. (name change Feb 3, 2017)..

Is Franklin BSP Realty Trust, Inc. a risky investment based on this filing?

Based on this DEF 14A, Franklin BSP Realty Trust, Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant operational changes.

What should investors do after reading Franklin BSP Realty Trust, Inc.'s DEF 14A?

Review the proxy statement for details on executive compensation, board proposals, and any shareholder voting recommendations. The overall sentiment from this filing is neutral.

How does Franklin BSP Realty Trust, Inc. compare to its industry peers?

Franklin BSP Realty Trust, Inc. operates as a real estate investment trust (REIT).

Are there regulatory concerns for Franklin BSP Realty Trust, Inc.?

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

Industry Context

Franklin BSP Realty Trust, Inc. operates as a real estate investment trust (REIT).

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

  1. Review the detailed sections on director nominations and elections.
  2. Examine the executive compensation disclosures, including the Summary Compensation Table.
  3. Understand any proposals presented for shareholder vote and the board's recommendations.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual disclosure for public companies regarding shareholder meetings and voting.

Filing Stats: 4,713 words · 19 min read · ~16 pages · Grade level 13.1 · Accepted 2024-04-17 08:01:16

Key Financial Figures

  • $5 billion — the end of 2023, our portfolio stood at $5 billion spread across 144 loans with an average
  • $35 million — cross 144 loans with an average size of $35 million. We originated $818 million of new loan
  • $818 million — rage size of $35 million. We originated $818 million of new loan commitments throughout the
  • $0.355 — r. Our earnings covered our dividend of $0.355 and produced a competitive risk adjuste
  • $1.5 billion — closed the year with ample liquidity of $1.5 billion. We are actively seeking to deploy capi
  • $0.01 — f shares of our common stock, par value $0.01 per share, and our Series H Convertible
  • $1 — ncial Highlights 1 Annual dividend of $1.42, paid quarterly, delivering a yield
  • $818M — g a yield on book value of ~9% Closed $818M of new loan commitments at a weighted a
  • $897M — of 450 bps Closed BSPRT 2023-FL10, a $897M managed CLO Portfolio Size of $5.0B
  • $5.0B — a $897M managed CLO Portfolio Size of $5.0B Produced full year GAAP and Distribut
  • $1.5B — ly Ended 2023 with total liquidity of $1.5B Corporate Governance Highlights 86%

Filing Documents

Legal Proceedings

Legal Proceedings 23 Director Continuing Education 23 Director Time Commitments 23 Majority Vote Standard and Director Resignation Policy 24 Board Evaluation Process 24 Executive Sessions 24 Stockholder Engagement 25 Communications with the Board of Directors 26 Code of Ethics 26 Hedging and Pledging Policy 26 Executive Officers 27 Compensation Committee Report 28

Executive Compensation

Executive Compensation 29 Stock Ownership by Directors, Officers and Certain Stockholders 41 Certain Relationships and Related Transactions 43 Audit Committee report 45 Proposal No. 2 - Approval of an Amendment to our Charter to Eliminate Supermajority Voting Requirements 46 Proposal No. 3 - Ratification of Appointment of Independent Registered Public Accounting firm 48 Proposal No. 4 - Advisory Vote on the Compensation of our Named Executive Officers 50 Other Matters Presented for Action at the 2024 Annual Meeting 51 Stockholder Proposals for the 2025 Annual Meeting 52 Appendix A-1 Table of Contents FRANKLIN BSP REALTY TRUST, INC. 1345 Avenue of the Americas, Suite 32A New York, New York 10105 PROXY STATEMENT FOR 2024 ANNUAL MEETING OF STOCKHOLDERS TO BE HELD MAY 29, 2024 This proxy statement is being furnished by and on behalf of the board of directors of Franklin BSP Realty Trust, Inc., a Maryland corporation, ("the Company," "FBRT," "we," "us" or "our"), in connection with the solicitation of proxies to be voted at the Company's 2024 Annual Meeting of Stockholders (the "Annual Meeting") and at any adjournment or postponement thereof. We are furnishing the proxy materials for the Annual Meeting electronically using the Internet through the mailing to our stockholders of a Notice of Internet Availability of Proxy Materials, or the Notice and Access Card. The proxy statement, proxy card and our 2023 annual report to stockholders will be distributed or made available to stockholders of record on or about April 17, 2024. Important Notice Regarding the Availability of Proxy Materials for the Annual Stockholders Meeting to be Held on Wednesday, May 29, 2024 This Proxy Statement, the Notice of Annual Meeting and our 2023 Annual Report are available at: www.ProxyVote.com/FBRT In addition, any stockholder may request to receive proxy materials electronically by email on an ongoing basis. Choosing to receive p

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