[Form 3] Fundamental Global Inc. 8.00% Cumulative Preferred Stock Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Maja Vujinovic, a director of Fundamental Global Inc., filed a Form 3 reporting beneficial ownership of a Common Stock Purchase Warrant covering 170,000 underlying shares with a $5 exercise price. The warrant’s exercise is conditioned on (i) effectiveness of articles of amendment to increase authorized shares to 1,000,000,000 and (ii) the 21st day following the final information statement for Nasdaq Rule 5635(d) approval (the Initial Exercise Date). The warrant expires ten years from the Initial Exercise Date and is limited to 50% exercise until the Company purchases $150 million in Ethereum tokens. The event date is 08/04/2025 and the form was signed 08/08/2025.

Positive

• Director reported ownership of a Common Stock Purchase Warrant covering 170,000 shares, providing transparency under Section 16.
• Warrant carries a defined ten-year expiration, clarifying the maximum exercisability period.

Negative

• Exercise is contingent on corporate approvals: increasing authorized shares to 1,000,000,000 and Nasdaq Rule 5635(d) timing, which may delay exercise.
• Exercise limited to 50% of warrant shares until the Company purchases $150 million in Ethereum tokens, restricting immediate full conversion.

Insights

Financial Analyst

TL;DR: Routine Section 16 disclosure showing a director-held warrant for 170,000 shares with explicit exercise conditions and a ten-year term.

The filing documents beneficial ownership of a common stock purchase warrant for 170,000 shares exercisable at $5 per share. Exercise depends on corporate actions that create an Initial Exercise Date, and the warrant expires ten years from that date. The filing is a standardized disclosure under Section 16 and does not itself record a exercised or transferred security position.

Corporate Governance Expert

TL;DR: Director-level ownership disclosed; exercise timing is contingent on shareholder/corporate approvals and a company-specific purchase condition.

The Form 3 identifies the reporting person as a director and specifies that exercise is contingent on amending authorized shares and Nasdaq Rule 5635(d) approval timing, which may delay conversion into common stock. Additionally, a 50% exercise cap until a $150 million Ethereum purchase is explicitly stated, creating a conditional limitation on immediate full exercise. This is a disclosure of ownership and contractual terms tied to corporate actions.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

Vujinovic Maja

(Last) (First) (Middle)

C/O FUNDAMENTAL GROUP LLC

6408 BANNINGTON ROAD

(Street)

CHARLOTTE NC 28226

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/04/2025

3. Issuer Name and Ticker or Trading Symbol
Fundamental Global Inc. [ FGF ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Common Stock Purchase Warrant	(1)	(2)	Common Stock	170,000	$5	D

Explanation of Responses:

1. Exercise subject to the latter of the (i) effectiveness of articles of amendment to the Company's amended and restated articles of incorporation to increase authorized shares to 1,000,000,000 and (ii) 21st day following final information statement for Nasdaq Rule 5635(d) approval (the "Initial Exercise Date").

2. Expires ten years from Initial Exercise Date. Exercise limited to 50% of warrant shares until Company purchases $150 million in Ethereum tokens.

	/s/ Maja Vujinovic	08/08/2025
	** 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 5 (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 Fundamental Global Inc. (FGFPP) disclose in the Form 3?

Maja Vujinovic, a director, reported beneficial ownership of a Common Stock Purchase Warrant for 170,000 shares exercisable at $5 per share, with conditions and a ten-year expiration.

How many shares are underlying the warrant and what is the exercise price?

170,000 shares underlying the warrant with an exercise price of $5 per share.

When can the warrants be exercised and when do they expire?

Exercise is subject to the Initial Exercise Date (after authorized-share amendment effectiveness and the 21st day following the final information statement for Nasdaq Rule 5635(d) approval); the warrant expires ten years from that Initial Exercise Date.

Are there limits on exercising the warrants disclosed in the filing?

Yes. Exercise is limited to 50% of the warrant shares until the Company purchases $150 million in Ethereum tokens.

What are the relevant dates and the reporting person's role?

Event date: 08/04/2025; Form signed: 08/08/2025; reporting person is a Director.