[Form 4] Advanced Flower Capital Inc. Insider Trading Activity

Rhea-AI Filing Summary

Advanced Flower Capital Inc. (AFCG)November 20, 2025, the director received 5,474 shares of AFCG common stock at a price of $2.74 per share. Following this transaction, the director beneficially owned 24,539 shares on a direct basis.

The filing explains that the award represents restricted stock granted under the company’s Stock Incentive Plan, and that this restricted stock was fully vested as of November 20, 2025. The form was filed for one reporting person and signed by an attorney-in-fact on the reporting person’s behalf.

11/24/2025 - 05:07 PM

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^*

HARRISON THOMAS L

(Last) (First) (Middle)

477 S. ROSEMARY AVE.

SUITE 301

(Street)

WEST PALM BEACH FL 33401

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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

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

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

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	11/20/2025		A		5,474(1)	A	$2.74	24,539	D

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. Represents restricted stock granted under the Issuer's Stock Incentive Plan that is fully-vested as of November 20, 2025.

Remarks:

	/s/ Gabriel A. Katz, as Attorney-in-Fact	11/24/2025
	** 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.

FAQ

What did AFCG disclose in this Form 4 filing?

The filing discloses that a director of Advanced Flower Capital Inc. (AFCG) received a grant of 5,474 shares of common stock on November 20, 2025 under the company’s Stock Incentive Plan.

How many AFCG shares were granted to the director and at what price?

The director was granted 5,474 shares of AFCG common stock at a price of $2.74 per share.

How many AFCG shares does the director own after this transaction?

After the reported transaction, the director beneficially owned 24,539 shares of AFCG common stock on a direct basis.

What type of equity award did the AFCG director receive?

The director received restricted stock granted under AFCG’s Stock Incentive Plan, which the disclosure states was fully vested as of November 20, 2025.

Was the restricted stock grant to the AFCG director vested?

Yes. The filing states that the restricted stock granted is fully vested as of November 20, 2025.

Is this AFCG Form 4 filed for multiple insiders or a single reporting person?

The document indicates that the Form 4 is filed by one reporting person, not by a group of multiple insiders.