Neos Partners (FPS) trims Forgent Power stake with 34.5M-share sale

Rhea-AI Filing Summary

Neos Partners-affiliated funds, as major holders of Forgent Power Solutions, Inc., reported a restructuring and partial sale of their stake in Class A common stock. On March 30, 2026, they disposed of 10,783,205 Opco LLC Interests to the issuer and simultaneously acquired 10,783,205 shares of Class A common stock at a stated price of $0.00 per share, reflecting an internal reclassification of interests.

On the same date, the reporting entities executed an open‑market or private sale of 34,500,000 shares of Class A common stock. After this sale, their indirect holdings in Class A common stock stood at 145,218,850 shares, while a separate line shows 46,756 shares held directly. The filing shows no remaining derivative positions, indicating the current exposure is primarily through common stock holdings.

Insights

Equity ownership & governance analyst

Large holder restructures LLC interests and sells 34.5M Forgent Power shares.

The Neos Partners complex, identified as a more-than‑10% holder and director group, converted 10,783,205 Opco LLC Interests into an equal number of Class A common shares at a stated price of $0.00. This appears as an internal shift from derivative‑style LLC units into regular equity.

Concurrently, they executed an open‑market or private sale of 34,500,000 Class A shares, reducing indirect holdings from 179,718,850 to 145,218,850 shares. That is a notable trim of this holder’s position, though they still retain a very large stake, plus a separate direct holding of 46,756 shares. No remaining derivative positions are shown, so their exposure now sits mainly in common stock.

Insider Trade Summary

4 transactions reported

Net Sell 4 txns

Insider Neos Partners, LP, Neos Partners GP, LLC, Neos Partners I LP, Neos Partners I-A LP, Neos Partners I-B LP, Neos Partners I Expansion LP, Neos Partners I GP LLC, Neos Partners I Expansion GP LLC

Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner | Director, 10% Owner

Sold 34,500,000 shs ($0.00)

Type	Security	Shares	Price	Value
Disposition	Opco LLC Interests	10,783,205	$0.00	--
Grant/Award	Class A common stock	10,783,205	$0.00	--
Sale	Class A common stock	34,500,000	$0.00	--
holding	Class A common stock	--	--	--

Holdings After Transaction: Opco LLC Interests — 60,310,039 shares (Indirect, See Notes); Class A common stock — 179,718,850 shares (Indirect, See Notes); Class A common stock — 46,756 shares (Direct)

Footnotes (1)

1. See Exhibit 99.1 for text of footnote (1). See Exhibit 99.1 for text of footnote (2). See Exhibit 99.1 for text of footnote (3). See Exhibit 99.1 for text of footnote (4). See Exhibit 99.1 for text of footnote (5). See Exhibit 99.1 for text of footnote (6.) See Exhibit 99.1 for text of footnote (7). See Exhibit 99.1 for text of footnote (8). See Exhibit 99.1 for text of footnote (9). See Exhibit 99.1 for text of footnote (10). See Exhibit 99.1 for text of footnote (11).

Key Figures

Opco LLC Interests disposed: 10,783,205 interests Class A shares acquired: 10,783,205 shares Class A shares sold: 34,500,000 shares +3 more

6 metrics

Opco LLC Interests disposed 10,783,205 interests Disposition to issuer on March 30, 2026

Class A shares acquired 10,783,205 shares Grant/award acquisition at $0.00 per share

Class A shares sold 34,500,000 shares Open-market or private sale on March 30, 2026

Indirect holdings after sale 145,218,850 shares Class A common stock held indirectly after transactions

Direct holdings after update 46,756 shares Class A common stock held directly in separate line

Net buy/sell shares -34,500,000 shares Net direction marked as net-sell in transaction summary

Key Terms

Opco LLC Interests, disposition to issuer, open-market sale, indirect ownership, +1 more

5 terms

Opco LLC Interests financial

"security_title": "Opco LLC Interests""

disposition to issuer financial

"transaction_action": "issuer disposition""

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"ownership_type": "indirect""

Class A common stock financial

"security_title": "Class A common stock""

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Neos Partners, LP

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Forgent Power Solutions, Inc. [ FPS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A common stock	03/30/2026		A(2)		10,783,205(3)	A	(2)	179,718,850(4)	I	See Notes(1)(10)(11)
Class A common stock	03/30/2026		S		34,500,000(5)	D	(6)	145,218,850(7)	I	See Notes(1)(10)(11)
Class A common stock								46,756(8)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Opco LLC Interests	(2)	03/30/2026		D			10,783,205(3)	(2)	(2)	Class A Common Stock(2)	10,783,205(3)	(2)	60,310,039(9)	I	See Notes(1)(10)(11)

1. Name and Address of Reporting Person^*

Neos Partners, LP

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Neos Partners GP, LLC

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Neos Partners I LP

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Neos Partners I-A LP

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Neos Partners I-B LP

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Neos Partners I Expansion LP

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Neos Partners I GP LLC

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Neos Partners I Expansion GP LLC

(Last) (First) (Middle)

12400 HIGH BLUFF DRIVE, SUITE 650

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. See Exhibit 99.1 for text of footnote (1).

2. See Exhibit 99.1 for text of footnote (2).

3. See Exhibit 99.1 for text of footnote (3).

4. See Exhibit 99.1 for text of footnote (4).

5. See Exhibit 99.1 for text of footnote (5).

6. See Exhibit 99.1 for text of footnote (6.)

7. See Exhibit 99.1 for text of footnote (7).

8. See Exhibit 99.1 for text of footnote (8).

9. See Exhibit 99.1 for text of footnote (9).

10. See Exhibit 99.1 for text of footnote (10).

11. See Exhibit 99.1 for text of footnote (11).

Remarks:

Exhibit 99.1 (Footnotes) and Exhibit 99.2 (Joint Filer Information and Signatures) are incorporated herein by reference. This Form 4 is the second of three identical Form 4s filed relating to the same event. The Form 4 has been split into three filings because there are more than 10 Reporting Persons in total, and the SEC's EDGAR filing system limits a single Form 4 to a maximum of 10 Reporting Persons. Each Form 4 is filed by Designated Filer, Neos Partners, LP.

	NEOS PARTNERS, LP, By: See Exhibit 99.2 for Signatures	04/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Neos Partners report in this Forgent Power (FPS) Form 4?

Neos Partners-affiliated entities reported converting 10,783,205 Opco LLC Interests into the same number of Class A common shares and selling 34,500,000 Class A shares. They remain large indirect holders of Forgent Power stock after these transactions.

How many Forgent Power Class A shares did Neos Partners sell?

The filing shows an open‑market or private sale of 34,500,000 Class A common shares. This sale reduced their indirect holdings from 179,718,850 to 145,218,850 shares while leaving a smaller, separate direct holding unchanged.

What happened to the Opco LLC Interests held by Neos Partners in FPS?

Neos Partners disposed of 10,783,205 Opco LLC Interests to the issuer and received 10,783,205 Class A common shares at a stated price of $0.00 per share. This reflects a restructuring from LLC interests into standard common equity in Forgent Power.

How many Forgent Power shares does Neos Partners hold after the transactions?

After the reported transactions, Neos Partners-affiliated entities hold 145,218,850 Class A shares indirectly and 46,756 Class A shares directly. The filing shows no remaining derivative positions, indicating their stake is now primarily in common stock form.

Does the Forgent Power (FPS) Form 4 show remaining derivatives for Neos Partners?

The derivative summary in the filing is empty after the transactions, indicating no remaining derivative positions are reported. Their exposure described here is through substantial indirect holdings and a smaller direct position in Class A common stock.