Form 4: FlexShopper Director T. Scott King Discloses Late Acquisition of 25,000 Shares

Director T. Scott King reports a late filing for the acquisition of 25,000 shares of FlexShopper, Inc. (FPAY) common stock at a price of $1.17 per share on May 18, 2022.

Summary

• T. Scott King, a director of FlexShopper, Inc. (FPAY), filed a Form 4 disclosing a transaction that occurred on May 18, 2022.
• The report indicates the acquisition of 25,000 shares of common stock at a price of $1.17 per share.
• The filing was submitted late, and the explanation provided states that the shares were inadvertently not filed previously.
• Following the reported transaction, King's beneficial ownership includes 312,000 shares held indirectly.

Sentiment

Score: 5

Explanation: Neutral sentiment as it primarily reports a transaction and a late filing. The impact is likely minimal unless further issues arise regarding compliance.

Negatives

• The Form 4 filing was submitted late, indicating a potential oversight in reporting requirements.

Risks

• Late filings can sometimes raise concerns about compliance with SEC regulations, although the explanation provided suggests it was an inadvertent error.

Industry Context

Form 4 filings are routine disclosures for corporate insiders and large shareholders, providing transparency into their transactions in the company's stock. Late filings, while not always indicative of serious issues, can draw scrutiny.

Stakeholder Impact

• The late filing could cause minor concern among shareholders regarding the company's compliance practices.

Key Dates