# EDGAR Filing Document

**Accession Number:** 0001899883
**File Stem:** 0001193125-26-049187
**Filing Date:** 2026-2
**Character Count:** 33264
**Document Hash:** 8a85a97cd5a2d7d2a13172591df35275
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-049187.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001193125-26-049187

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13G

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FTAI Infrastructure Inc.
- **CENTRAL INDEX KEY:** 0001899883
- **STANDARD INDUSTRIAL CLASSIFICATION:** RAILROADS, LINE-HAUL OPERATING [4011]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-93734
- **FILM NUMBER:** 26628130

**BUSINESS ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105
- **BUSINESS PHONE:** (212) 798-6100

**MAIL ADDRESS:**
- **STREET 1:** 1345 AVENUE OF THE AMERICAS
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FTAI Infrastructure LLC
- **DATE OF NAME CHANGE:** 20211216
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEBOWITZ STEVEN D
- **CENTRAL INDEX KEY:** 0000934389

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13G

**MAIL ADDRESS:**
- **STREET 1:** 439 NORTH BEDFORD DRIVE
- **CITY:** BEVERLY HILLS
- **STATE:** CA
- **ZIP:** 90210

### Attached PDF Documents

**Attachment 1:** `ck0000000000-ex99_1.pdf`

_No text found in this document._

**Attachment 2:** `ck0000000000-ex99_2.pdf`

_No text found in this document._

**Attachment 3:** `ck0000000000-ex99_3.pdf`

_No text found in this document._

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

## SCHEDULE 13G

### Under the Securities Exchange Act of 1934

**Issuer:** FTAI INFRASTRUCTURE INC.

**Title of Class of Securities:** Common Stock,  $0.10 par value

**CUSIP Number:** 35953C106

**Date of Event Which Requires Filing of this Statement:** 12/31/2025

**Check the appropriate box to designate the rule pursuant to which this Schedule is filed:**

- [ ] Rule 13d-1(b)

- [x] Rule 13d-1(c)

- [ ] Rule 13d-1(d)

---

| 1. | Names of Reporting Persons<br>Steven D. Lebowitz | Names of Reporting Persons<br>Steven D. Lebowitz |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>255000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5926501 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>255000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>6428501 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6683501 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>6683501 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.75% | Percent of Class Represented by Amount in Row (9)<br>5.75% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.

(2)   This number includes shares held by The Lebowitz Family Stock, LLC, a limited liability company of which Steven D. Lebowitz is the sole manager.

(3)   This number includes shares held by (a) Deborah P. Lebowitz, (b) The Steven & Deborah Lebowitz Foundation (the "Foundation"), a trust over which Steven D. Lebowitz serves as a co-trustee and (c) the Lebowitz Family Trust - 1986, dated October 7, 1986, as amended (the "LF Trust"), a trust over which Steven D. Lebowitz serves as a co-trustee, (d) Kora Miri Silverberg 2021 Irrevocable Trust, and (e) Isla Silverberg 2020 Irrevocable Trust.

(4)   This number includes shares held by (a) Lauren Lebowitz Salem, (b) Robert Lebowitz, (c) Kathryn Lebowitz Silverberg, (d) the A&A Lebowitz Trust (the "AA Trust"), (e) Susan Pearlstein, and (f) and Clinton Paul.

(5)   Based on 116,294,461 shares of common stock of FTAI Infrastructure Inc. (the "Issuer") outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Deborah P. Lebowitz | Names of Reporting Persons<br>Deborah P. Lebowitz |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>5839001 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5839001 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5839001 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5839001 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>5.02% | Percent of Class Represented by Amount in Row (9)<br>5.02% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.

(2)   This number includes shares held by (a) the Foundation, a trust over which Deborah P. Lebowitz serves as a co-trustee, (b) the LF Trust, a trust over which Deborah P. Lebowitz serves as a co-trustee, (c) Kora Miri Silverberg 2021 Irrevocable Trust, and (d) Isla Silverberg 2020 Irrevocable Trust.

(3)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Lauren Lebowitz Salem | Names of Reporting Persons<br>Lauren Lebowitz Salem |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>60000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>60000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>60000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>60000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.05% | Percent of Class Represented by Amount in Row (9)<br>0.05% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.
(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Robert Lebowitz | Names of Reporting Persons<br>Robert Lebowitz |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>2000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.00% | Percent of Class Represented by Amount in Row (9)<br>0.00% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.
(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Kathryn Lebowitz Silverberg | Names of Reporting Persons<br>Kathryn Lebowitz Silverberg |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>142500 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>142500 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>142500 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>142500 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.12% | Percent of Class Represented by Amount in Row (9)<br>0.12% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.
(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Andrew Lebowitz | Names of Reporting Persons<br>Andrew Lebowitz |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>290000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>290000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>290000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>290000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.25% | Percent of Class Represented by Amount in Row (9)<br>0.25% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.

(2)   This number includes shares held by the AA Trust, a trust over which Andrew Lebowitz serves as a co-trustee.

(3)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Ashley Lebowitz | Names of Reporting Persons<br>Ashley Lebowitz |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>290000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>290000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>290000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>290000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.25% | Percent of Class Represented by Amount in Row (9)<br>0.25% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.

(2)   This number includes shares held by the AA Trust, a trust over which Ashley Lebowitz serves as a co-trustee.

(3)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>The Lebowitz Family Stock, LLC | Names of Reporting Persons<br>The Lebowitz Family Stock, LLC |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>DE | Citizenship or Place of Organization<br>DE |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>255000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>25500 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>0 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>255000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>255000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.22% | Percent of Class Represented by Amount in Row (9)<br>0.22% |
| 12. | Type of Reporting Person (See Instructions)<br>OO | Type of Reporting Person (See Instructions)<br>OO |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.
(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Debra Paul | Names of Reporting Persons<br>Debra Paul |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>5000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>5000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>5000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.00% | Percent of Class Represented by Amount in Row (9)<br>0.00% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.

(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Susan Pearlstein | Names of Reporting Persons<br>Susan Pearlstein |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>2500 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>2500 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2500 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>2500 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.00% | Percent of Class Represented by Amount in Row (9)<br>0.00% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.

(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Kora Miri Silverberg | Names of Reporting Persons<br>Kora Miri Silverberg |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>17000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>17000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.01% | Percent of Class Represented by Amount in Row (9)<br>0.01% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.
(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

| 1. | Names of Reporting Persons<br>Isla Silverberg | Names of Reporting Persons<br>Isla Silverberg |
|:---|:---|:---|:---|
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] | Check the Appropriate Box if a Member of a Group (See Instructions)<br>(a) [ ] (b) [x] |
| 3. | SEC Use Only | SEC Use Only |
| 4. | Citizenship or Place of Organization<br>X1 | Citizenship or Place of Organization<br>X1 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 5. | Sole Voting Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 6. | Shared Voting Power<br>17000 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 7. | Sole Dispositive Power<br>0 |
| Number of<br>Shares<br>Beneficially<br>Owned by<br>Each<br>Reporting<br>Person<br>With | 8. | Shared Dispositive Power<br>17000 |
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17000 | Aggregate Amount Beneficially Owned by Each Reporting Person<br>17000 |
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) [ ] |
| 11. | Percent of Class Represented by Amount in Row (9)<br>0.01% | Percent of Class Represented by Amount in Row (9)<br>0.01% |
| 12. | Type of Reporting Person (See Instructions)<br>IN | Type of Reporting Person (See Instructions)<br>IN |

**Comment for Type of Reporting Person:** (1)   The number of shares reported as beneficially owned as of December 31, 2025.
(2)   Based on 116,294,461 shares of common stock of the Issuer outstanding as of December 31, 2025, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025 filed with the U.S. Securities and Exchange Commission on October 31, 2025.

---

**Item 1(a). Name of Issuer:**
FTAI INFRASTRUCTURE INC.

**Item 1(b). Address of Issuer's Principal Executive Offices:**
1345 Avenue of the Americas, 45th Floor  New York, NY 10105

**Item 2(a). Name of Person Filing:**
Steven D. Lebowitz, Deborah P. Lebowitz, Lauren Lebowitz Salem, Robert Lebowitz, Kathryn Lebowitz Silverberg, Andrew Lebowitz, Ashley Lebowitz, The Lebowitz Family Stock, LLC, Kora Miri Silverberg, Isla Silverberg, Susan Pearlstein and Clinton Paul (collectively, the "Reporting Persons").

The Reporting Persons have entered into a Joint Filing Agreement, which is attached hereto as Exhibit 99.1, pursuant to which the Reporting Persons have agreed to file this statement and any subsequent amendments hereto jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act.

**Item 2(b). Address of Principal Business Office:**
1333 Second Street, Suite 650
Santa Monica, CA 90401

**Item 2(c). Citizenship:**
See responses to Item 4 on each cover page.

**Item 2(d). Title of Class of Securities:**
Common Stock,  $0.10 par value

**Item 2(e). CUSIP Number:**
35953C106

**Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**

(a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);

(f) [ ] An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);

(g) [ ] A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

(h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), if filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:

(k) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).

**Item 4. Ownership:**

**(a) Amount beneficially owned:**

See responses to Item 9 on each cover page.

**(b) Percent of class:**

See responses to Item 11 on each cover page.

**(c) Number of shares as to which the person has:**

**(i) Sole power to vote or to direct the vote:**

See responses to Item 5 on each cover page.

**(ii) Shared power to vote or to direct the vote:**

See responses to Item 6 on each cover page.

**(iii) Sole power to dispose or to direct the disposition of:**

See responses to Item 7 on each cover page.

**(iv) Shared power to dispose or to direct the disposition of:**

See responses to Item 8 on each cover page.

**Item 5. Ownership of Five Percent or Less of a Class.**

[x] If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following.

**Item 6. Ownership of More than 5 Percent on Behalf of Another Person.**

Not Applicable

**Item 7. Identification and Classification of the Subsidiary**

Not Applicable

**Item 8. Identification and Classification of Members of the Group**

Please see attached the statement in Exhibit 99.2.

**Item 9. Notice of Dissolution of Group**

Not Applicable

**Item 10. Certification:**

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Steven D. Lebowitz**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** By: Andrew Collins, Attorney-In-Fact

**Deborah P. Lebowitz**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Lauren Lebowitz Salem**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Robert Lebowitz**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Kathryn Lebowitz Silverberg**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Andrew Lebowitz**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Ashley Lebowitz**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**The Lebowitz Family Stock, LLC**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Debra Paul**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Susan Pearlstein**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Kora Miri Silverberg**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact

**Isla Silverberg**

**Date:** 02/12/2026

**By:** /s/ Andrew Collins,Attorney in Fact

**Name & Title:** Andrew Collins, Attorney-In-Fact