UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 10, 2026, the Board of Directors (the “Board”) of Franklin BSP Realty Trust, Inc. (the “Company”) appointed Michael Comparato as the Company’s Chief Executive Officer, effective immediately. Mr. Comparato succeeds Richard J. Byrne, who resigned as Chief Executive Officer on the same date. Mr. Byrne will continue to serve as Chairman of the Board of the Company.
Mr. Comparato, 48, had previously served as the Company’s President since March 2023. He also serves as Senior Managing Director, Head of Real Estate (since 2017) and Portfolio Manager with Benefit Street Partners L.L.C., the Company’s external manager (the “Advisor”), and serves on the Advisor’s US Executive Committee.
In addition, on February 10, 2026, the Board appointed Brian Buffone to succeed Mr. Comparato as the Company’s President, effective immediately. Mr. Buffone, 48, is a Managing Director and has served as Head of Real Estate Operations of the Advisor since January 2025. Mr. Buffone joined the Advisor in 2018 as Managing Director, Head of Equity Investments.
There are no family relationships between Mr. Comparato or Mr. Buffone and any director or executive officer of the Company and there have been no transactions between Mr. Comparato, Mr. Buffone or any of either of their immediate family members and the Company or any of its subsidiaries.
On February 10, 2026, the Company issued a press release announcing the appointments of Mr. Comparato and Mr. Buffone, a copy of which is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
EXHIBIT INDEX
| Exhibit | ||
| No. | Description | |
| 99.1 | Press Release issued on February 10, 2026 | |
| 104.1 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FRANKLIN BSP REALTY TRUST, INC. | ||
| By: | /s/ Jerome S. Baglien | |
| Name: | Jerome S. Baglien | |
| Title: | Chief Financial Officer and Chief Operating Officer | |
Date: February 10, 2026