Form 4: Howard Dvorkin Increases Stake in FlexShopper, Inc. (FPAY) Through Open Market Purchases

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

Summary

• Howard Dvorkin, a director and 10% owner of FlexShopper, Inc. (FPAY), has reported changes in beneficial ownership.
• Between June 6, 2024, and June 11, 2024, Dvorkin indirectly acquired shares of FPAY common stock through open market purchases.
• The purchases were made at prices ranging from $1.10 to $1.16 per share.
• Dvorkin's indirect holdings following these transactions amount to 4,410,766 shares of common stock.
• These shares are held of record by PITA Holdings, LLC, where Beta Investment Group, Inc., managed by Dvorkin, acts as the manager.
• 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 is generally viewed favorably, but the document is simply reporting transactions without expressing an opinion on the company's performance.

Positives

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

Industry Context

Insider buying is often seen as a positive signal, suggesting that those with the most knowledge of the company's prospects are optimistic about its future. However, it's important to consider the size of the purchases relative to the overall market capitalization of the company and the individual's total holdings.

Stakeholder Impact

• The increased stake of a major shareholder could reassure other investors.

Key Dates