Form 4: FlexShopper Director Howard Dvorkin Increases Stake in Company

Howard Dvorkin, a director and 10% owner of FlexShopper, Inc., has increased his indirect holdings in the company through purchases of common stock on May 16 and 17, 2024.

Summary

• Howard Dvorkin, a director and 10% owner of FlexShopper, Inc. (FPAY), reported changes in beneficial ownership.
• On May 16, 2024, Dvorkin indirectly acquired 44,868 shares of common stock at a weighted average price of $1.12, with individual transactions ranging from $1.11 to $1.13.
• On May 17, 2024, he indirectly acquired another 49,862 shares of common stock, also at a weighted average price of $1.12, with prices ranging from $1.11 to $1.13.
• Following these transactions, Dvorkin's indirect beneficial ownership totaled 4,157,568 shares.
• These shares are held by PITA Holdings, LLC, where Beta Investment Group, Inc. acts as the manager, and Dvorkin serves as the President of Beta.
• Dvorkin disclaims beneficial ownership except to the extent of his pecuniary interest.
• The amount excludes 1,190,000 shares of the Issuer's common stock which are issuable upon the exercise of warrants held of record by PITA.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. Insider buying can be seen as a positive sign, but it's important to consider the context and the size of the purchases relative to the overall holdings.

Positives

• The director's purchase of shares could be interpreted as a positive signal about his confidence in the company's future prospects.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency regarding insider transactions in publicly traded companies.

Stakeholder Impact

• The increased stake by a director could improve investor confidence.

Key Dates