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

Howard Dvorkin, a director and 10% owner of FlexShopper, Inc., has increased his indirect holdings through purchases of common stock on May 23 and May 29, 2024.

Summary

• Howard Dvorkin, a director and 10% owner of FlexShopper, Inc. (FPAY), has reported changes in his beneficial ownership of the company's common stock.
• On May 23, 2024, Dvorkin indirectly acquired 6,020 shares at a weighted average price of $1.15 per share.
• On May 29, 2024, he indirectly acquired 18,226 shares at a weighted average price of $1.14 per share.
• These purchases increased his indirect beneficial ownership to 4,244,499 shares, excluding 1,190,000 shares issuable upon the exercise of warrants held by PITA Holdings, LLC.
• The shares are held by PITA Holdings, LLC, where Beta Investment Group, Inc., of which Dvorkin is the President, is the manager.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. Insider buying is generally viewed favorably, but the impact is moderate given the size of the transactions and the lack of additional context.

Positives

• The director's purchase of shares 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 or that its prospects are strong. However, it's important to consider the size of the purchases relative to the overall market capitalization of FlexShopper and the individual's total holdings.

Stakeholder Impact

• Shareholders may view the insider buying as a positive signal.
• The increased ownership stake could potentially influence corporate governance decisions.

Key Dates