GEYGAN JAMES 4

What Happened

• James Geygan, reported as a 10% owner of Fluent, Inc. (FLNT), exercised pre‑funded warrants on June 24, 2026 via a cashless exercise. The filing shows acquisition of 11,366 and 67,059 shares (total 78,425 shares). Exercise price is reported as $0.00; the filing lists nominal aggregate amounts of $6 and $34 for the two lots.
• The related derivative interests (the pre‑funded warrants) were terminated when exercised in full; the filing also shows corresponding derivative‑disposition entries reflecting that conversion.

Key Details

• Transaction date: June 24, 2026; Form 4 filed June 26, 2026 (within the typical 2‑business‑day reporting window).
• Shares acquired: 11,366 and 67,059 shares (total 78,425 shares) via cashless exercise of pre‑funded warrants.
• Reported per‑share exercise price: $0.00; nominal aggregate amounts shown ($6 and $34) in the filing.
• The pre‑funded warrants became exercisable after shareholder approval on June 17, 2026 and will expire three years from issuance; the pre‑funded warrants terminated upon full exercise.
• Securities are held in accounts managed indirectly by Global Value Investment Corporation (GVIC), which Geygan controls (filing notes potential indirect beneficial ownership through GVIC).
• The reporting person disclaims beneficial ownership except to the extent of any pecuniary interest. The total shares beneficially owned after the transaction are not specified in the provided filing excerpt.

Context

• Cashless exercise: the filing notes the pre‑funded warrants were exercised on a cashless basis, meaning shares were received net of any exercise consideration rather than by paying cash; the derivative entries reflect conversion/termination rather than an open‑market sale.
• As a 10% owner and controller of GVIC, these transactions reflect actions by a principal/institutional owner (not an employee stock‑based sale) and are reported under Section 16 disclosure rules.