TANNENBAUM LEONARD M 4

What Happened
Leonard M. Tannenbaum, reported as a 10% owner and President of the Tannenbaum Family Foundation, purchased 90,600 shares of Advanced Flower Capital Inc. in open-market transactions on May 14, 2026. The weighted average price reported was $2.84 per share, for a total purchase value of approximately $257,304. This was a purchase (buy), which is generally viewed as a more informative signal than routine sales.

Key Details

• Transaction type: Purchase (code P) — open market/private purchase reported as aggregated trade.
• Transaction date: 2026-05-14. Report filed: 2026-05-19 (filed one day late due to an administrative error).
• Price: weighted average $2.84; individual trades ranged $2.78–$2.86 (footnote F1).
• Shares acquired: 90,600; total value ≈ $257,304.
• Ownership after transaction: not specified in the provided filing.
• Beneficial ownership notes: Reporting person disclaims beneficial ownership; shares are held by the Tannenbaum Family Foundation (formerly Leonard M. Tannenbaum Foundation), for which he serves as President and he disclaims ownership except to the extent of any pecuniary interest (footnotes F2, F3). The filer also offered to supply full trade-level details on request (F1).

Context
Because the reported shares are held by a family foundation and the filer disclaims beneficial ownership except for any pecuniary interest, this filing reflects institutional/foundation-level activity rather than a direct personal stake change. The one-day late filing is noted in the form’s remarks; late filings can matter for disclosure timeliness but do not by themselves imply wrongdoing.