{"url_path":"/sec/frd/10-k/2026/item-15","section_key":"item-15","section_title":"Item 15 Exhibits and Financial Statement Schedules**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-11","source_url":"https://www.sec.gov/Archives/edgar/data/39092/0001437749-26-020323-index.html","accession_number":"0001437749-26-020323","cik":"0000039092","ticker":"FRD","issuer_name":"FRIEDMAN INDUSTRIES INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/39092/0001437749-26-020323-index.html","primary_entity_key":"0000039092","primary_entity_name":"FRIEDMAN INDUSTRIES INC"},"word_count":1103,"has_tables":true,"body_markdown":"**Item 15.  Exhibits and Financial Statement Schedules**\n\n \n\n(a) Documents included in this report\n\n \n\n1. Financial Statements\n\n \n\nThe following financial statements and notes thereto of the Company are included in the Company’s Annual Report to Shareholders for the fiscal year ended March 31, 2026, which is incorporated herein by reference:\n\n \n\nConsolidated Balance Sheets — March 31, 2026 and 2025\n\n \n\nConsolidated Statements of Operations — Years ended March 31, 2026 and 2025\n\n \n\nConsolidated Statements of Stockholders’ Equity — Years ended March 31, 2026 and 2025\n\n \n\nConsolidated Statements of Cash Flows — Years ended March 31, 2026 and 2025\n\n \n\nNotes to Consolidated Financial Statements\n\n \n\nReports of Independent Registered Public Accounting Firm\n\n \n\n2.  Financial Statement Schedules\n\n \n\nThe following financial statement schedule is included in the Company's Annual Report to Shareholders for the fiscal year ended March 31, 2026, which is incorporated herein by reference:\n\n \n\nSchedule II — Valuation and Qualifying Accounts\n\n \n\nAll other schedules for which provision is made in the applicable accounting regulations of the SEC are not required under the related instructions or are inapplicable and, therefore, have been omitted.\n\n \n\n8\n\n \n\n \n\n \n\n*3.*  Exhibits\n\n \n\n**Exhibit**\n\n**No.**\n\n \n\n**Description**\n\n    \n\n*3.1*\n \n—\n\n[Articles of Incorporation of the Company, as amended (incorporated by reference from Exhibit *3.1* to the Company’s Form S-*8* filed on *December 21, 2016).*](http://www.sec.gov/Archives/edgar/data/39092/000143774916043636/ex3-1.htm)\n\n    \n\n*3.2*\n \n—\n\n[Articles of Amendment to the Articles of Incorporation of the Company, as filed with the Texas Secretary of State on *September **22,* *1987* (incorporated by reference from Exhibit *3.1* to the Company’s Form S-*8* filed on *December 21, 2016).*](http://www.sec.gov/Archives/edgar/data/39092/000143774916043636/ex3-1.htm)\n\n    \n\n*3.3*\n \n—\n\n[Amended and Restated Bylaws of the Company, as amended on *November 8, 2021 (*incorporated by reference from Exhibit *3.3* to the Company’s Form *10*-Q filed on *November 19, 2021).*](http://www.sec.gov/Archives/edgar/data/39092/000143774921027176/ex_309205.htm)\n\n    \n\n*10.1*\n \n—\n\n[Friedman Industries, Incorporated *2016* Restricted Stock Plan (incorporated by reference from Exhibit *4.2* to the Company’s Form S-*8* filed on *December 21, 2016).*](http://www.sec.gov/Archives/edgar/data/39092/000143774916043636/ex4-2.htm)\n\n    \n\n*10.2*\n \n—\n\n[Form of Friedman Industries, Incorporated Restricted Stock Award Agreement (incorporated by reference from Exhibit *4.3* to the Company’s Form S-*8* filed on *December 21, 2016).*](http://www.sec.gov/Archives/edgar/data/39092/000143774916043636/ex4-3.htm)\n\n    \n\n*10.3*\n \n—\n\n[First Amendment to the Friedman Industries, Incorporated *2016* Restricted Stock Plan (incorporated by reference from Appendix C to the Company’s Form DEF *14A* filed on *July 26, 2019).*](http://www.sec.gov/Archives/edgar/data/39092/000143774919014733/frd20190725_def14a.htm)\n\n    \n\n*10.4* —[Amended and Restated Credit Agreement dated *May 19, 2021 (*incorporated by reference from Exhibit *10.9* to the Company’s Form *10*-K for the fiscal year ended *March 31, 2021*filed on *July 7, 2021).*](http://www.sec.gov/Archives/edgar/data/39092/000143774921016577/ex_259622.htm)\n\n    \n\n*10.5*\n \n—\n[Pledge and Security Agreement dated *May 19, 2021 (*incorporated by reference from Exhibit *10.10* to the Company’s Form *10*-K for the fiscal year ended *March 31, 2021*filed on *July 7, 2021).*](http://www.sec.gov/Archives/edgar/data/39092/000143774921016577/ex_259623.htm)\n\n    \n\n*10.6*\n \n—\n[First Amendment to Amended and Restated Credit Agreement (incorporated by reference from Exhibit *10.6* to the Company's Form *10*-K for the fiscal year ended *March 31, 2022*filed on *August 2, 2022).*](http://www.sec.gov/Archives/edgar/data/39092/000143774922018429/ex_357747.htm)\n\n    \n\n*10.7*\n \n—\n[Second Amendment to Amended and Restated Credit Agreement (incorporated by reference from Exhibit *10.7* to the Company's Form *10*-K for the fiscal year ended *March 31, 2022*filed on *August 2, 2022).*](http://www.sec.gov/Archives/edgar/data/39092/000143774922018429/ex_357748.htm)\n\n    \n\n*10.8* —[Third Amendment to Amended and Restated Credit Agreement (incorporated by reference from Exhibit *10.12* to the Company's Form *10*-K for the fiscal year ended *March 31, 2022*filed on *August 2, 2022).*](http://www.sec.gov/Archives/edgar/data/39092/000143774922018429/ex_395832.htm)\n\n    \n\n*10.9* —[Fourth Amendment to Amended and Restated Credit Agreement (incorporated by reference from Exhibit *10.9* to the Company's Form *10*-K for the fiscal year ended *March 31, 2025,*filed on *June 12, 2025).*](http://www.sec.gov/Archives/edgar/data/39092/000143774925020219/ex_828486.htm)\n\n    \n\n*10.10* —[Fifth Amendment to Amended and Restated Credit Agreement and Second Amendment to Security Agreement (incorporated by reference from Exhibit *10.1* to the Company's Form *8*-K dated *August 29, 2025,*filed on *September 3, 2025).*](http://www.sec.gov/Archives/edgar/data/39092/000143774925028241/ex_858576.htm)\n\n    \n\n*10.11* —[Sixth Amendment to Amended and Restated Credit Agreement (incorporated by reference from Exhibit *10.2* to the Company's Form *10*-Q for the filed on *February 9, 2026).*](http://www.sec.gov/Archives/edgar/data/39092/000143774925028241/ex_858576.htm)\n\n    \n\n*10.12* —[Friedman Industries, Incorporated *2025* Long-Term Incentive Plan (incorporated by reference to Appendix D to the Company's Schedule *14A* Definitive Proxy Statement filed on *July 28, 2025).*](http://www.sec.gov/ix?doc=/Archives/edgar/data/0000039092/000143774925023662/frd20250724_def14a.htm)\n\n    \n\n***13.1*\n \n—\n\n[The Company’s Annual Report to Shareholders for the fiscal year ended *March **31,* *2026.*](ex_919086.htm)\n\n    \n\n*14.1*\n \n—\n\n[Friedman Industries, Incorporated Code of Conduct and Ethics (incorporated by reference to Exhibit *14.1* to the Company's Form *10*-K for the fiscal year ended *March 31, 2025,*filed on *June 12, 2025).*](http://www.sec.gov/Archives/edgar/data/39092/000143774925020219/ex_780551.htm)\n\n    \n\n19.1 —[Insider Trading Policy (incorporated by reference to Exhibit 19.1 to the Company's Form *10*-K for the fiscal year ended *March 31, 2025,*filed on *June 12, 2025).*](http://www.sec.gov/Archives/edgar/data/39092/000143774925020219/ex_828487.htm)\n\n    \n\n***21.1*\n \n—\n\n[List of Subsidiaries.](ex_919089.htm)\n\n    \n\n***23.1*\n \n—\n\n[Consent of Baker Tilly US LLP.](ex_919090.htm)\n\n    \n\n***31.1*\n \n—\n\n[Certification Pursuant to Section *302* of the Sarbanes-Oxley Act of *2002,* signed by Michael J. Taylor.](ex_919091.htm)\n\n    \n\n***31.2*\n \n—\n\n[Certification Pursuant to Section *302* of the Sarbanes-Oxley Act of *2002,* signed by Alex LaRue.](ex_919092.htm)\n\n    \n\n***32.1*\n \n—\n\n[Certification Pursuant to *18* U.S.C. Section *1350,* as Adopted Pursuant to Section *906* of the Sarbanes-Oxley Act of *2002,* signed by Michael J. Taylor.](ex_919093.htm)\n\n    \n\n***32.2*\n \n—\n\n[Certification Pursuant to *18* U.S.C. Section *1350,* as Adopted Pursuant to Section *906* of the Sarbanes-Oxley Act of *2002,* signed by Alex LaRue.](ex_919094.htm)\n\n    \n\n*97.1* —[Clawback Policy (incorporated by reference to Exhibit *97.1* to the Company's Form *10*-K for the fiscal year ended *March 31, 2025,*filed on *June 12, 2025).*](http://www.sec.gov/Archives/edgar/data/39092/000143774925020219/ex_828488.htm)\n\n \n\n***101.INS*\n \n—\n\nInline XBRL Instance Document.\n\n    \n\n***101.SCH*\n \n—\n\nInline XBRL Taxonomy Schema Document.\n\n    \n\n***101.CAL*\n \n—\n\nInline XBRL Calculation Linkbase Document.\n\n    \n\n***101.DEF*\n \n—\n\nInline XBRL Definition Linkbase Document.\n\n    \n\n***101.LAB*\n \n—\n\nInline XBRL Label Linkbase Document.\n\n    \n\n***101.PRE*\n \n—\n\nInline XBRL Presentation Linkbase Document.\n\n    \n\n***104* —Cover Page Interactive Data File (embedded within the Inline XBRL and contained in Exhibit *101*)\n\n \n\n**\n\nFiled herewith.\n\n \n\n*9*\n\n \n\n \n\n**SIGNATURES**\n\n \n\nPursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, Friedman Industries, Incorporated has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.\n\n \n\n \n\nFRIEDMAN INDUSTRIES, INCORPORATED\n\n \n\n \n \n \n \n\n \n\nBy:\n\n/S/    MICHAEL J. TAYLOR          \n\n \n\n \n\n \n\nMichael J. Taylor\n\n \n\n \n\n \n\n*President and** **Chief Executive Officer*\n\n \n\n \n \n \n\n \n\nDated: June 11, 2026\n\n \n\n \n\nPursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of Friedman Industries, Incorporated in the capacities and on the dates indicated.\n\n \n\n**Signature**\n\n \n\n**Title**\n\n \n\n**Date**\n\n \n \n \n \n \n\n/S/    MICHAEL J. TAYLOR        \n\n \n\nPresident and Chief Executive Officer and\n\n \nJune 11, 2026\n\nMichael J. Taylor\n \nDirector (Principal Executive Officer)\n \n \n\n \n \n \n \n \n\n/S/    ALEX LARUE        \n\n \n\nChief Financial Officer — Secretary and\n\n \nJune 11, 2026\n\nAlex LaRue\n \nTreasurer (Principal Financial Officer\n \n \n\n \n \nand Principal Accounting Officer)\n \n \n\n \n \n \n \n \n\n/S/    MICHAEL HANSON   \n\n \n\nDirector\n\n \nJune 11, 2026\n\nMichael Hanson\n \n \n \n \n\n \n \n \n \n \n\n/S/    MAX REICHENTHAL \n \nDirector\n \nJune 11, 2026\n\nMax Reichenthal\n \n \n \n \n\n \n \n \n \n \n\n/S/    SANDY SCOTT      \n\n \n\nDirector\n\n \nJune 11, 2026\n\nSandy Scott\n \n \n \n \n\n \n \n \n \n \n\n/S/    TIM STEVENSON        \n\n \n\nDirector\n\n \nJune 11, 2026\n\nTim Stevenson\n \n \n \n \n\n \n \n \n \n \n\n/S/    SHARON TAYLOR\n \nDirector\n \nJune 11, 2026\n\nSharon Taylor\n \n \n \n \n\n \n \n \n \n \n\n/S/    JOE L. WILLIAMS        \n\n \n\nDirector\n\n \nJune 11, 2026\n\nJoe L. Williams\n \n \n \n \n\n \n\n10"}