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    <periodOfReport>2026-06-18</periodOfReport>

    <issuer>
        <issuerCik>0001803914</issuerCik>
        <issuerName>Playboy, Inc.</issuerName>
        <issuerTradingSymbol>PLBY</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002024046</rptOwnerCik>
            <rptOwnerName>FIG Buyer GP, LLC</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10105</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001245521</rptOwnerCik>
            <rptOwnerName>FIG LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001381035</rptOwnerCik>
            <rptOwnerName>Fortress Principal Investment Holdings IV LLC</rptOwnerName>
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            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
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            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001387344</rptOwnerCik>
            <rptOwnerName>Fortress Operating Entity I LP</rptOwnerName>
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            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
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            <rptOwnerCity>NEW YORK</rptOwnerCity>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001387345</rptOwnerCik>
            <rptOwnerName>FIG Blue LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
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            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10105</rptOwnerZipCode>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001380393</rptOwnerCik>
            <rptOwnerName>Fortress Investment Group LLC</rptOwnerName>
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            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
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            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
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    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002024037</rptOwnerCik>
            <rptOwnerName>FINCO I Intermediate Holdco LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10105</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002024235</rptOwnerCik>
            <rptOwnerName>FINCO I LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10105</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002024041</rptOwnerCik>
            <rptOwnerName>FIG Parent, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10105</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
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            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002024043</rptOwnerCik>
            <rptOwnerName>Foundation Holdco LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerNonUSAddressFlag>false</rptOwnerNonUSAddressFlag>
            <rptOwnerStreet1>1345 AVENUE OF THE AMERICAS, 46TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10105</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
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            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
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                <value>Common Stock, $0.0001 par value per share</value>
            </securityTitle>
            <transactionDate>
                <value>2026-06-18</value>
            </transactionDate>
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                    <value>923499</value>
                </transactionShares>
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            <ownershipNature>
                <directOrIndirectOwnership>
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                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
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                    <footnoteId id="F9"/>
                    <footnoteId id="F10"/>
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        </nonDerivativeTransaction>
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                <natureOfOwnership>
                    <value>See Footnote</value>
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                    <footnoteId id="F10"/>
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                    <value>See Footnote</value>
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                    <value>108292</value>
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                    <value>See Footnote</value>
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                    <footnoteId id="F10"/>
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                    <value>See Footnote</value>
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                    <footnoteId id="F10"/>
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                <transactionShares>
                    <value>44472</value>
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                    <value>I</value>
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                <natureOfOwnership>
                    <value>See Footnote</value>
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                    <footnoteId id="F10"/>
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                    <value>See Footnote</value>
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                    <footnoteId id="F9"/>
                    <footnoteId id="F10"/>
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.0001 par value per share</value>
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                <value>2026-06-18</value>
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                <transactionCode>S</transactionCode>
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                    <value>23003</value>
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                    <value>D</value>
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                    <value>177339</value>
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                    <value>I</value>
                </directOrIndirectOwnership>
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                    <value>See Footnote</value>
                    <footnoteId id="F8"/>
                    <footnoteId id="F9"/>
                    <footnoteId id="F10"/>
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    <footnotes>
        <footnote id="F1">Held directly by Drawbridge Special Opportunities Fund LP (&quot;DBSO&quot;). Drawbridge Special Opportunities Advisors LLC (&quot;DBSO Advisors&quot;) is the investment advisor to DBSO.</footnote>
        <footnote id="F2">Held directly by Drawbridge DSO Securities LLC (&quot;DBDSO&quot;). DBSO is the sole member and owner of all of the outstanding membership interests in DBDSO.</footnote>
        <footnote id="F3">Held directly by DBDB Funding LLC (&quot;DBDB Funding&quot;). DBSO is the indirect owner of all of the outstanding membership interests of DBDB Funding.</footnote>
        <footnote id="F4">Held directly by FLF I Securities L.P (&quot;FLF I&quot;). Fortress Lending Advisors LLC (&quot;Fortress Lending&quot;) 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.</footnote>
        <footnote id="F5">Held directly by Fortress Credit Opportunities XV CLO Limited (&quot;FCO XV CLO&quot;). FCOD CLO Management LLC (&quot;FCOD CLO&quot;) is the collateral manager of FCO XV CLO. DBSO is the holder of all of the issued and outstanding interests of FCOD CLO.</footnote>
        <footnote id="F6">Held directly by Fortress Credit Opportunities XI CLO Limited (&quot;FCO XI CLO&quot;). FCOD CLO is the collateral manager of FCO XI CLO.</footnote>
        <footnote id="F7">Held directly by FCO XVII PLYB Holdings LLC (&quot;FCO XVII&quot;). Fortress Credit Opportunities XVII CLO Limited (&quot;FCO XVII CLO&quot;) 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 (&quot;FCO XVII CLO CM&quot;) 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.</footnote>
        <footnote id="F8">Held directly by DBO PLYB Holdings LLC (&quot;DBO PLYB&quot;). Drawbridge Special Opportunities Fund Ltd. (&quot;DBSOF&quot;) 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.</footnote>
        <footnote id="F9">Drawbridge Special Opportunities GP LLC (&quot;DBSO GP&quot;) is the general partner of DBSO. Fortress Principal Investment Holdings IV LLC (&quot;FPI IV&quot;) is the managing member of DBSO GP. FIG LLC is the holder of all membership interests of DBSO Advisors. Fortress Operating Entity I LP (&quot;FOE&quot;) is the holder of all of the issued and outstanding membership interests of FIG LLC and FPI IV. FIG Blue LLC (&quot;FIG Blue&quot;) is the general partner of FOE. Fortress Investment Group LLC (&quot;Fortress&quot;) is the sole member of FIG Blue. FINCO I Intermediate Holdco LLC (&quot;FINCO Intermediate&quot;) is the sole member of Fortress. FINCO I LLC (&quot;FINCO&quot;) is the sole member of FINCO Intermediate. FIG Parent, LLC (&quot;FIG Parent&quot;) is the sole member of FINCO. Foundation Holdco LP (&quot;Foundation&quot;) is the sole member of FIG Parent. FIG Buyer GP, LLC is the general partner of Foundation.</footnote>
        <footnote id="F10">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.</footnote>
    </footnotes>

    <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.</remarks>

    <ownerSignature>
        <signatureName>FIG Buyer GP, LLC By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>FIG LLC  By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Fortress Principal Investment Holdings IV LLC By: David N. Brooks, General Counsel, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Fortress Operating Entity I LP By: FIG Blue LLC, its general partner By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>FIG Blue LLC By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Fortress Investment Group LLC By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>FINCO I Intermediate Holdco LLC By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>FINCO I LLC By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>FIG Parent, LLC By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Foundation Holdco LP By: FIG Buyer GP, LLC, its general partner By: David N. Brooks, Secretary, /s/ David N. Brooks</signatureName>
        <signatureDate>2026-06-23</signatureDate>
    </ownerSignature>
</ownershipDocument>
