Form 4: FlexShopper Director Howard Dvorkin Increases Indirect Ownership Through Open Market Purchases

Howard Dvorkin, a director and 10% owner of FlexShopper, Inc., has increased his indirect beneficial ownership through a series of open market purchases of common stock.

Summary

• On June 12, 2024, Howard Dvorkin indirectly acquired 1,345 shares of FlexShopper common stock at a price of $1.19 per share.
• On June 13, 2024, he indirectly acquired an additional 5,500 shares at $1.24 per share.
• On June 17, 2024, he further increased his holdings by acquiring 6,000 shares at $1.20 per share.
• These purchases increased his indirect beneficial ownership to 4,423,611 shares.
• The shares are held of record by PITA Holdings, LLC, where Beta Investment Group, Inc., of which Dvorkin is President, is the manager.
• Dvorkin disclaims beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. Insider buying is generally viewed favorably, but the limited scope of the purchases and the disclaimer of direct ownership temper the enthusiasm.

Positives

• The director's open market purchases may signal confidence in the company's future prospects.

Industry Context

Insider buying is often seen as a positive sign, suggesting that those with the most knowledge of the company believe its stock is undervalued. However, it's important to consider the size of the purchases relative to the overall market capitalization and trading volume of the stock.

Stakeholder Impact

• Shareholders may view the insider buying as a positive signal.
• The impact on employees, customers, suppliers, and creditors is likely minimal.

Key Dates