Form 4: AFCG Director Tannenbaum Boosts Stake by 44,000 Shares

Advanced Flower Capital Inc. Director and 10% owner Leonard M. Tannenbaum increased his direct beneficial ownership by acquiring 44,000 shares of common stock in early December 2025.

Summary

• Leonard M. Tannenbaum, a Director and 10% Owner of Advanced Flower Capital Inc. (AFCG), reported two separate purchases of common stock.
• On December 9, 2025, Tannenbaum acquired 24,000 shares of common stock at a weighted average price of $2.83 per share, totaling approximately $67,920.
• On December 10, 2025, an additional 20,000 shares of common stock were purchased at a weighted average price of $3.03 per share, totaling approximately $60,600.
• These transactions increased his direct beneficial ownership to 5,836,098 shares.
• Tannenbaum also indirectly beneficially owns 218,907 shares held by his spouse and 180,400 shares held by the Tannenbaum Family Foundation, for which he serves as President, though he disclaims beneficial ownership for these except to the extent of his pecuniary interest.

Sentiment

Score: 8

Explanation: The filing indicates significant insider buying by a Director and 10% owner, which is generally viewed as a strong positive signal of management confidence in the company's future performance and valuation.

Positives

• Increased insider ownership by a Director and 10% owner, signaling confidence in the company's future prospects.
• The total value of shares acquired across the two transactions is approximately $128,520.

Future Outlook

NA

Management Comments

• This transaction was executed in multiple trades ranging from $2.78 to $2.89; the price reported reflects the weighted average price.
• This transaction was executed in multiple trades ranging from $3.00 to $3.09; the price reported reflects the weighted average price.
• The Reporting Person hereby undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.
• The Reporting Person disclaims beneficial ownership of these securities [held by spouse], and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
• The Reporting Person disclaims beneficial ownership of the reported securities [held by Tannenbaum Family Foundation] except to the extent of his pecuniary interest.

Industry Context

Insider buying, especially by a significant owner and director, is often interpreted by the market as a positive signal, suggesting that those with intimate knowledge of the company believe its stock is undervalued or has strong future prospects. This can be particularly impactful in niche sectors like cannabis REITs, where market sentiment can be volatile.

Related Party Transactions

• Indirect beneficial ownership of 180,400 shares held by the Tannenbaum Family Foundation, for which the Reporting Person serves as President. The Reporting Person disclaims beneficial ownership except to the extent of his pecuniary interest.

Stakeholder Impact

• Shareholders: May view the insider purchases as a positive indicator of management's confidence, potentially leading to increased investor interest and a positive impact on share price.

Next Steps

• The Reporting Person undertakes to provide full information regarding the number of shares and prices at which the transactions were effected upon request to the SEC staff, the issuer, or any security holder of the issuer.

Key Dates

Recommendation

The significant insider buying by a Director and 10% owner, Leonard M. Tannenbaum, suggests strong confidence in Advanced Flower Capital Inc.'s future prospects and current valuation. Insider purchases are often seen as a bullish signal, indicating that those with the most intimate knowledge of the company believe the stock is undervalued. This action could precede positive developments or reflect a belief in the company's long-term strategy, making it an attractive entry point for investors.

Keywords

Advanced Flower Capital Inc., AFCG, Insider Buying, Form 4, Leonard M. Tannenbaum, Director, 10% Owner, Stock Purchase, Equity Acquisition, Cannabis REIT