FOSTER L B CO — Director's Dealing 2023

May 19, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FOSTER L B CO (FSTR)
CIK: 0000352825
Period of Report: 2023-05-17

Reporting Person: English Aron R. (10% Owner)
Reporting Person: 22NW, LP (10% Owner)
Reporting Person: 22NW Fund, LP (10% Owner)
Reporting Person: 22NW Fund GP, LLC (10% Owner)
Reporting Person: 22NW GP, Inc. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-05-17	Common Stock	P	22202	$10.7627	Acquired	1303648	Indirect
2023-05-18	Common Stock	P	9473	$11.1976	Acquired	1313121	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	905	Direct

Footnotes

F1: This Form 4 is filed jointly by 22NW Fund, LP ("22NW Fund"), 22NW, LP ("22NW"), 22NW Fund GP, LLC ("22NW GP"), 22NW GP, Inc. ("22NW Inc.") and Aron R. English (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively beneficially owns more than 10% of the Issuer's outstanding shares of Common Stock. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.

F2: Represents a weighted average price. These Shares were purchased in multiple transactions at prices ranging from $10.7150 to $11.0000. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Shares purchased at each separate price within the range set forth in this footnote.

F3: Securities owned directly by 22NW Fund. As the investment manager to 22NW Fund, 22NW may be deemed to beneficially own the securities owned directly by 22NW Fund. As the general partner of 22NW Fund, 22NW GP may be deemed to beneficially own the securities owned directly by 22NW Fund. As the general partner of 22NW, 22NW Inc. may be deemed to beneficially own the securities owned directly by 22NW Fund. Mr. English, as the Portfolio Manager of 22NW, Manager of 22NW GP and President and sole shareholder of 22NW Inc., may be deemed to beneficially own the securities owned directly by 22NW Fund.

F4: Represents a weighted average price. These Shares were purchased in multiple transactions at prices ranging from $10.8750 to $11.2450. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Shares purchased at each separate price within the range set forth in this footnote