Advanced Flower Capital director buys 2,949 shares

Advanced Flower Capital Inc. (AFCG) insider Leonard M. Tannenbaum, a director and ten percent owner, reported open-market purchases of the company’s Common Stock.

Rhea-AI Filing Summary

Advanced Flower Capital Inc. (AFCG) insider Leonard M. Tannenbaum, a director and ten percent owner, reported open-market purchases of the company’s Common Stock. He bought 2,341 shares at $3.43 on September 16, 2026 and 608 shares at $3.50 on September 15, 2026, for a total of 2,949 shares. No transactions were reported under a Rule 10b5-1 trading plan. The filing also reports 226,907 shares held indirectly by his spouse, for which he disclaims beneficial ownership, and 180,400 shares held by the Tannenbaum Family Foundation, for which he disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Buyer: 2,949 shares

Net Buy 4 txns

Insider TANNENBAUM LEONARD M

Role Director, 10% Owner

Bought 2,949 shs ($10K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	2,341	$3.43	$8K
Purchase	Common Stock	608	$3.50	$2K
holding	Common Stock F1	--	--	--
holding	Common Stock F2	--	--	--

Holdings After Transaction: Common Stock — 6,927,446 shares (Direct); Common Stock — 226,907 shares (Indirect, Held by spouse); Common Stock — 180,400 shares (Indirect, See footnote)

Footnotes (2)

1. F1. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
2. F2. These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

Key Figures

Shares purchased September 16, 2026: 2,341 shares at $3.43 per share Shares purchased September 15, 2026: 608 shares at $3.50 per share Total shares purchased: 2,949 shares +2 more

5 metrics

Shares purchased September 16, 2026 2,341 shares at $3.43 per share Open-market purchase of AFCG Common Stock by Leonard M. Tannenbaum

Shares purchased September 15, 2026 608 shares at $3.50 per share Open-market purchase of AFCG Common Stock by Leonard M. Tannenbaum

Total shares purchased 2,949 shares Sum of reported open-market purchases in this Form 4

Indirect holdings via spouse 226,907 shares Common Stock held indirectly by spouse; beneficial ownership disclaimed

Indirect holdings via foundation 180,400 shares Common Stock held by Tannenbaum Family Foundation; beneficial ownership disclaimed except for pecuniary interest

Key Terms

beneficial ownership, pecuniary interest, indirect ownership

3 terms

beneficial ownership regulatory

"The Reporting Person disclaims beneficial ownership of these securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest"

indirect ownership financial

"Indirect ownership reported for shares held by spouse and by the Tannenbaum Family Foundation"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did AFCG director Leonard M. Tannenbaum report?

He reported two open-market purchases of Advanced Flower Capital Inc. Common Stock: 2,341 shares at $3.43 on September 16, 2026 and 608 shares at $3.50 on September 15, 2026, totaling 2,949 shares purchased.

Were Leonard M. Tannenbaum’s AFCG share purchases made under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as being under a plan, and no Rule 10b5-1 trading plan is reported for these transactions.

What indirect AFCG holdings related to Leonard M. Tannenbaum are disclosed?

The filing lists 226,907 shares of Common Stock held indirectly by his spouse and 180,400 shares held by the Tannenbaum Family Foundation. He disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest in the foundation shares.

What prices did Leonard M. Tannenbaum pay for his recent AFCG share purchases?

He purchased 2,341 shares at $3.43 per share on September 16, 2026 and 608 shares at $3.50 per share on September 15, 2026 in open-market transactions.

How many AFCG shares did Leonard M. Tannenbaum buy in total in this Form 4?

Across the reported transactions, Leonard M. Tannenbaum purchased a total of 2,949 shares of Advanced Flower Capital Inc. Common Stock in mid-September 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 04:05 PM Accepted by SEC EDGAR 09/17/2026 - 04:04 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

TANNENBAUM LEONARD M

(Last) (First) (Middle)

477 S. ROSEMARY AVE.

SUITE 301

(Street)

WEST PALM BEACH FLORIDA 33401

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Advanced Flower Capital Inc. [ AFCG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2026		P		608	A	$3.5	6,925,105	D
Common Stock	09/16/2026		P		2,341	A	$3.43	6,927,446	D
Common Stock								226,907	I	Held by spouse(1)
Common Stock								180,400	I	See footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Reporting Person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.

2. These shares are held by the Tannenbaum Family Foundation (formerly known as the Leonard M. Tannenbaum Foundation), for which the Reporting Person serves as the President. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest.

Remarks:

	/s/ Gabriel A. Katz, as Attorney-in-Fact	09/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)