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

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

1. Name and Address of Reporting Person ^*

FIG Buyer GP, LLC

(Last)

(First)

(Middle)

1345 AVENUE OF THE AMERICAS, 46TH FLOOR

(Street)

NEW YORK

10105

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Playboy, Inc. [ PLBY ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.0001 par value per share	06/18/2026		S		923,499	D	$ 1.05	7,119,718	I	See Footnote ⁽¹⁾ ⁽⁹⁾ ⁽¹⁰⁾
Common Stock, $0.0001 par value per share	06/18/2026		S		371,639	D	$ 1.05	2,865,152	I	See Footnote ⁽²⁾ ⁽⁹⁾ ⁽¹⁰⁾
Common Stock, $0.0001 par value per share	06/18/2026		S		295,540	D	$ 1.05	2,278,464	I	See Footnote ⁽³⁾ ⁽⁹⁾ ⁽¹⁰⁾
Common Stock, $0.0001 par value per share	06/18/2026		S		108,292	D	$ 1.05	834,876	I	See Footnote ⁽⁴⁾ ⁽⁹⁾ ⁽¹⁰⁾
Common Stock, $0.0001 par value per share	06/18/2026		S		95,451	D	$ 1.05	735,894	I	See Footnote ⁽⁵⁾ ⁽⁹⁾ ⁽¹⁰⁾
Common Stock, $0.0001 par value per share	06/18/2026		S		44,472	D	$ 1.05	342,854	I	See Footnote ⁽⁶⁾ ⁽⁹⁾ ⁽¹⁰⁾
Common Stock, $0.0001 par value per share	06/18/2026		S		42,866	D	$ 1.05	330,472	I	See Footnote ⁽⁷⁾ ⁽⁹⁾ ⁽¹⁰⁾
Common Stock, $0.0001 par value per share	06/18/2026		S		23,003	D	$ 1.05	177,339	I	See Footnote ⁽⁸⁾ ⁽⁹⁾ ⁽¹⁰⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Held directly by Drawbridge Special Opportunities Fund LP ("DBSO"). Drawbridge Special Opportunities Advisors LLC ("DBSO Advisors") is the investment advisor to DBSO.

2. Held directly by Drawbridge DSO Securities LLC ("DBDSO"). DBSO is the sole member and owner of all of the outstanding membership interests in DBDSO.

3. Held directly by DBDB Funding LLC ("DBDB Funding"). DBSO is the indirect owner of all of the outstanding membership interests of DBDB Funding.

4. Held directly by FLF I Securities L.P ("FLF I"). Fortress Lending Advisors LLC ("Fortress Lending") is the investment manager of an entity that controls FLF I. FIG LLC is the holder of all of the issued and outstanding interests of Fortress Lending.

5. Held directly by Fortress Credit Opportunities XV CLO Limited ("FCO XV CLO"). FCOD CLO Management LLC ("FCOD CLO") is the collateral manager of FCO XV CLO. DBSO is the holder of all of the issued and outstanding interests of FCOD CLO.

6. Held directly by Fortress Credit Opportunities XI CLO Limited ("FCO XI CLO"). FCOD CLO is the collateral manager of FCO XI CLO.

7. Held directly by FCO XVII PLYB Holdings LLC ("FCO XVII"). Fortress Credit Opportunities XVII CLO Limited ("FCO XVII CLO") is the direct holder of 99.8%, and the indirect holder of 0.2%, of all of the issued and outstanding interests of FCO XVII. FCO XVII CLO CM LLC ("FCO XVII CLO CM") is the collateral manager of FCO XVII CLO. Fortress Lending is the holder of all of the issued and outstanding interests of FCO XVII CLO CM.

8. Held directly by DBO PLYB Holdings LLC ("DBO PLYB"). Drawbridge Special Opportunities Fund Ltd. ("DBSOF") is the direct holder of 99.8% and the indirect holder of 0.2% of all of the issued and outstanding interests of DBO PLYB. DBSO Advisors is the investment manager of DBSOF.

9. Drawbridge Special Opportunities GP LLC ("DBSO GP") is the general partner of DBSO. Fortress Principal Investment Holdings IV LLC ("FPI IV") is the managing member of DBSO GP. FIG LLC is the holder of all membership interests of DBSO Advisors. Fortress Operating Entity I LP ("FOE") is the holder of all of the issued and outstanding membership interests of FIG LLC and FPI IV. FIG Blue LLC ("FIG Blue") is the general partner of FOE. Fortress Investment Group LLC ("Fortress") is the sole member of FIG Blue. FINCO I Intermediate Holdco LLC ("FINCO Intermediate") is the sole member of Fortress. FINCO I LLC ("FINCO") is the sole member of FINCO Intermediate. FIG Parent, LLC ("FIG Parent") is the sole member of FINCO. Foundation Holdco LP ("Foundation") is the sole member of FIG Parent. FIG Buyer GP, LLC is the general partner of Foundation.

10. Each reporting person disclaims beneficial ownership of all reported securities except to the extent of its pecuniary interest therein and the inclusion of the securities in this report shall not be deemed to be an admission of beneficial ownership of the reported shares for the purposes of Section 16 or otherwise.

Remarks:

This Form 4 is one of two reports relating to the same holdings being filed jointly by Drawbridge Special Opportunities Fund LP, Drawbridge Special Opportunities Advisors LLC, Drawbridge Special Opportunities GP LLC, FIG LLC, Fortress Principal Investment Holdings IV LLC, Fortress Operating Entity I LP, FIG Blue LLC, Fortress Investment Group LLC, FINCO I Intermediate Holdco LLC, FINCO I LLC, FIG Parent, LLC, Foundation Holdco LP and FIG Buyer GP, LLC.

	FIG Buyer GP, LLC By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	FIG LLC By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	Fortress Principal Investment Holdings IV LLC By: David N. Brooks, General Counsel, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	Fortress Operating Entity I LP By: FIG Blue LLC, its general partner By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	FIG Blue LLC By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	Fortress Investment Group LLC By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	FINCO I Intermediate Holdco LLC By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	FINCO I LLC By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	FIG Parent, LLC By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** Signature of Reporting Person	Date
	Foundation Holdco LP By: FIG Buyer GP, LLC, its general partner By: David N. Brooks, Secretary, /s/ David N. Brooks	06/23/2026
	** 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).
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