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Fluent, Inc.·4

Jun 25, 5:06 PM ET

Conlin Matthew 4

Research Summary

AI-generated summary

Updated

Fluent (FLNT) 10% Owner Matthew Conlin Exercises Pre-Funded Warrants

What Happened

  • Matthew Conlin, reported as a 10% owner of Fluent, exercised pre-funded warrants to acquire a total of 597,505 common shares (85,714 on 6/23; 454,648 and 57,143 on 6/25). The filing shows nominal cash payments totaling about $299 (reported as $43, $227 and $29) and corresponding dispositions of the pre-funded warrants (derivative termination).
  • These are acquisitions via exercise of derivatives (code M). Small, separate zero-cost dispositions (code J) of 90 shares in total are also reported; these appear administrative and have no meaningful cash value. The net effect was conversion of pre-funded warrants into common stock.

Key Details

  • Transaction dates and prices: June 23, 2026 (85,714 shares; $0 reported; $43 cash equivalent); June 25, 2026 (454,648 shares; $0; $227) and (57,143 shares; $0; $29).
  • Total shares acquired: 597,505 common shares via exercise of pre-funded warrants.
  • Cash reported: approximately $299 total (nominal; reflects cashless exercise reporting).
  • Shares owned after transaction: not specified in the filing.
  • Notable footnotes: F1 = cashless exercise; F5–F7 = warrants became exercisable after June 17, 2026 shareholder approval and terminated when exercised; F2/F3 = Conlin’s voting/disposition rights relate to family trust and RSMC Partners roles; F4 = Conlin disclaims beneficial ownership for certain securities.
  • Filing timeliness: Filed June 25, 2026 for transactions on June 23 and June 25 — filing appears timely.

Context

  • These reports reflect exercises of pre-funded warrants (derivative conversion) rather than open-market purchases or sales. Footnote F1 states the exercises were cashless, which often means some portion of the exercised warrants were net-settled for shares rather than paid in cash.
  • As a reported 10% owner (not presented as an employee/executive in this filing), this activity reflects changes in holdings tied to derivative instruments and trust/partner relationships noted in the footnotes, not necessarily an executive trading signal.