Form 4: Reliance Global CEO Sells Shares for Tax Obligations

Ezra Beyman, Chairman and CEO of Reliance Global Group, Inc., reported the sale of common stock to cover tax liabilities related to a prior stock grant.

Summary

• Ezra Beyman, Chairman and CEO of Reliance Global Group, Inc., reported two transactions involving the disposition of common stock.
• On September 3, 2025, 9,043 shares of common stock were disposed of at a price of $0.8838 per share.
• On September 15, 2025, an additional 289,780 shares of common stock were disposed of at a price of $0.8747 per share.
• These dispositions were made to satisfy tax liabilities arising from a previously reported stock grant and are exempt under Section 16(b) of the Exchange Act.
• The transactions were made pursuant to a Rule 10b5-1(c) plan.
• Following these transactions, Beyman directly beneficially owns 659,299.97 shares of common stock.
• He also indirectly owns 472 shares through YES Americana Group, LLC and 7 shares through Reliance Global Holdings, LLC.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as neutral. While a significant number of shares were sold, it was for tax purposes related to a stock grant and executed under a 10b5-1 plan, which mitigates concerns about discretionary selling.

Positives

• The transactions were for the payment of tax liability incident to a stock grant, not a discretionary sale for personal gain.
• The transactions were made pursuant to a Rule 10b5-1(c) plan, indicating a pre-planned and automated sale, which reduces concerns about insider timing.
• The transactions are exempt from Section 16(b) of the Securities Exchange Act of 1934.

Negatives

• A significant number of shares (298,823 in total) were disposed of, reducing the direct beneficial ownership of the Chairman and CEO.
• The sales occurred at prices of $0.8838 and $0.8747, which are relatively low share prices.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider sales, even for tax purposes, are routinely monitored by investors for potential signals regarding management's perception of future stock performance. While these sales are non-discretionary due to tax obligations from a stock grant and a 10b5-1 plan, the volume of shares sold is notable.

Related Party Transactions

• Ezra Beyman indirectly owns 472 shares through YES Americana Group, LLC, an entity controlled by his spouse.
• Ezra Beyman indirectly owns 7 shares through Reliance Global Holdings, LLC, an entity controlled by him and his spouse.

Stakeholder Impact

• Shareholders: May observe a reduction in direct insider ownership, though the reason for sale (tax liability) and 10b5-1 plan mitigate negative interpretations.
• Management: The CEO is managing tax obligations related to compensation, which is a standard practice.

Key Dates

Recommendation

The reported transactions are non-discretionary sales by the CEO to cover tax liabilities from a stock grant, executed under a pre-planned 10b5-1 arrangement. This type of insider activity is generally considered neutral and does not typically signal a change in the company's fundamental outlook or warrant a change in investment thesis. Therefore, a 'hold' recommendation is appropriate as this filing alone does not provide new information to alter an existing investment decision.

Keywords

Reliance Global Group, EZRA, Ezra Beyman, Form 4, Insider Transaction, Stock Grant, Tax Liability, Share Disposition, CEO, Corporate Governance