TANNENBAUM LEONARD M 4

What Happened
Leonard M. Tannenbaum, identified as a 10% owner of Advanced Flower Capital, reported open-market purchases of common stock. He acquired 90,600 shares on 2026-03-18 at a weighted-average price of $2.59 ($234,654) and 60,600 shares on 2026-03-19 at a weighted-average price of $2.59 ($156,954), for a total of 151,200 shares and about $391,608. These are purchases (transaction code P), which are generally viewed as insider buying rather than selling.

Key Details

• Transaction dates: Mar 18, 2026 (90,600 shares) and Mar 19, 2026 (60,600 shares).
• Reported prices: weighted-average $2.59 for each filing; underlying trades ranged $2.56–$2.60 (F1) and $2.57–$2.60 (F2).
• Total consideration: ~$234,654 (Mar 18) + ~$156,954 (Mar 19) = ~$391,608.
• Shares owned after transaction: not reported in the provided excerpt of the filing.
• Footnotes: F1/F2 note the reported prices are weighted averages across multiple trades and the filer will provide detailed trade-by-trade info on request. F3/F4 indicate the shares are held by the Tannenbaum Family Foundation (he is president) and the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing: Form 4 filed 2026-03-19 reporting transactions of Mar 18–19; appears timely under Section 16 reporting requirements.

Context
These were straightforward open-market purchases (P). Because the shares are held by the Tannenbaum Family Foundation and the reporting person disclaims beneficial ownership beyond pecuniary interest, this filing reflects transactions connected with a family foundation rather than necessarily personal brokerage activity. Purchases by insiders or 10% owners can be of interest to retail investors, but the filing alone does not explain motive.