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Fluent, Inc.·4

Jun 12, 4:19 PM ET

Perfit Ryan MacNab 4

4 · Fluent, Inc. · Filed Jun 12, 2026

Research Summary

AI-generated summary of this filing

Updated

Fluent (FLNT) CFO Ryan MacNab Settles Phantom Units for $60.9K

What Happened

  • Ryan MacNab, Chief Financial Officer of Fluent, settled 18,666 phantom stock units (economic equivalents of shares) for cash on April 1, 2026, receiving $60,851 (price reported $3.26 per unit). The filing also reports equity awards: 56,000 restricted stock units (RSUs) granted Oct 9, 2025 (vest in three equal annual installments beginning Apr 1, 2026) and 54,000 RSUs granted Apr 3, 2026 (vest in three equal annual installments beginning Apr 1, 2027). The phantom units and RSUs are subject to continued employment and standard vesting schedules.

Key Details

  • Transactions and amounts:
    • 2025-10-09: Grant of 56,000 RSUs (per 2025 EPP); first vesting installment on 2026-04-01 (F1).
    • 2026-04-01: Settlement of 18,666 phantom stock units for cash — $3.26/unit, total $60,851 (reported as disposition to issuer) (F2).
    • 2026-04-03: Grant of 54,000 RSUs (per 2025 EPP); first vesting installment on 2027-04-01 (F3).
    • Filing also lists phantom-unit grants tied to the same vesting schedules and cash settlement mechanics (F4, F5).
  • Shares owned after the transactions: not specified in the filing.
  • Footnotes: RSUs convert to equity on vesting; phantom units are cash-settled equivalents paid at fair market value on vesting dates.
  • Timeliness: The Form 4 was filed on 2026-06-12 for transactions beginning Oct 9, 2025 and Apr 1/3, 2026 — the filing appears late relative to the typical 2-business-day Form 4 deadline.

Context

  • Phantom stock units are cash-settled awards (you don’t receive shares; you receive cash equal to the share value at settlement). RSUs convert into actual shares on vesting (subject to service conditions).
  • The April 1, 2026 action was a cash settlement (not an open-market sale of newly issued shares). Grants (RSUs/phantom units) are compensation awards and don’t by themselves indicate a purchase signal.
  • Late filing reduces prompt transparency for investors but does not itself explain the insider’s motivations.

Insider Transaction Report

Form 4
Period: 2025-10-09
Fluent, Inc.FLNT
Perfit Ryan MacNab
Chief Financial Officer
Transactions
  • Award

    Common Stock

    [F1]
    2025-10-09+56,000→ 75,334 total
  • Exercise/Conversion

    Common Stock

    [F2]
    2026-04-01+18,666→ 94,000 total
  • Disposition to Issuer

    Common Stock

    2026-04-01$3.26/sh−18,666$60,851→ 75,334 total
  • Award

    Common Stock

    [F3]
    2026-04-03+54,000→ 129,334 total
  • Award

    Phantom Stock Units

    [F4]
    2025-10-09+56,000→ 56,000 total
    → Common stock (56,000 underlying)
  • Exercise/Conversion

    Phantom Stock Units

    [F2]
    2026-04-01−18,666→ 37,334 total
    From: 2026-04-01Exp: 2026-04-01→ Common stock (18,666 underlying)
  • Award

    Phantom Stock Units

    [F5]
    2026-04-03+54,000→ 54,000 total
    → Common stock (54,000 underlying)
Footnotes (5)
  • [F1]On October 9, 2025, the Issuer granted the Reporting Person 56,000 restricted stock units ("RSUs") pursuant to the Issuer's 2025 Equity Participation Plan ("2025 EPP"). The RSUs vest in three equal annual installments with the first installment vesting on April 1, 2026, subject to continued employment.
  • [F2]Each phantom stock unit was the economic equivalent of one share of the Issuer's common stock. On April 1, 2026, 18,666 of the Reporting Person's phantom stock units were settled for cash.
  • [F3]On April 3, 2026, the Issuer granted the Reporting Person 54,000 RSUs pursuant to the Issuer's 2025 EPP. The RSUs vest in three equal annual installments with the first installment vesting on April 1, 2027, subject to continued employment.
  • [F4]The grant was made pursuant to the Issuer's 2025 EPP. Each phantom stock unit is the economic equivalent of one share of the Issuer's common stock and vest in three equal annual installments with the first installment vesting on April 1, 2026. Each phantom stock unit will be settled in cash in an amount equal to the fair market value of the Issuer's common stock on the vesting date, subject to continued employment.
  • [F5]The grant was made pursuant to the Issuer's 2025 EPP. Each phantom stock unit is the economic equivalent of one share of the Issuer's common stock and vest in three equal annual installments with the first installment vesting on April 1, 2027. Each phantom stock unit will be settled in cash in an amount equal to the fair market value of the Issuer's common stock on the vesting date, subject to continued employment.
Signature
/s/ Ryan Perfit|2026-06-12

Documents

1 file
  • 4
    rdgdoc.xmlPrimary

    FORM 4