[Form 4] Fundamental Global Inc. 8.00% Cumulative Preferred Stock Insider Trading Activity

Rhea-AI Filing Summary

Larry G. Swets Jr., Head of Merchant Banking at Fundamental Global Inc., reported an acquisition of 119 shares of the company's common stock under the Employee Share Purchase Plan on 08/18/2025 at a reported price of $17.70 per share. After the transaction, he beneficially owns 24,466 shares in total.

The filing notes a corporate action: an effective one-for-twenty-five reverse stock split completed on October 31, 2024, which affects the reported share counts. The Form 4 is signed by Mr. Swets on 08/19/2025. The disclosure is a routine insider purchase under an ESPP and does not include derivative transactions or other changes in ownership beyond the stated acquisition.

Positive

• Officer purchase under ESPP demonstrates management participation in equity ownership.
• Clear disclosure including price, transaction date, signature, and explanatory notes on the reverse split enhances transparency.

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider bought 119 shares via ESPP; total beneficial ownership is 24,466 shares after a prior 1-for-25 reverse split.

This Form 4 reports a small, routine acquisition by an officer under the Employee Share Purchase Plan. The transaction code is A indicating acquisition and the per-share price is reported at $17.70. The filing confirms no derivative holdings and that the company completed a one-for-twenty-five reverse split effective October 31, 2024, which materially adjusts disclosed share counts for comparability. Given the size of the purchase relative to the total shares owned, the transaction appears immaterial to capital structure or valuation.

Corporate Governance Expert

TL;DR: The filing is a standard, properly executed Form 4 reflecting an ESPP purchase and includes signature and explanatory notes.

The report includes required elements: reporter identity and role (Head of Merchant Banking), transaction date, acquisition code, price, post-transaction beneficial ownership and a signed certification dated 08/19/2025. The explanatory footnote clarifies the ESPP acquisition and the prior reverse split, aiding transparency. There are no indications of undisclosed related-party transfers or derivative activity in this filing.

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^*

SWETS LARRY G JR

(Last) (First) (Middle)

C/O FUNDAMENTAL GLOBAL INC.

108 GATEWAY BLVD., SUITE 204

(Street)

MOORESVILLE NC 28117

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Fundamental Global Inc. [ FGNX ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Head of Merchant Banking

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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	08/18/2025		A		119(1)	A	$17.7	24,466(2)	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 shares purchased under Employee Share Purchase Plan.

2. Effective October 31, 2024, Fundamental Global Inc went through one for twenty-five reverse split of its outstanding common shares.

	/s/ Larry G. Swets, Jr.	08/19/2025
	** 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 Larry G. Swets Jr. report on Form 4 for Fundamental Global Inc. (FGNX)?

He reported an acquisition of 119 shares under the Employee Share Purchase Plan on 08/18/2025 at $17.70 per share, resulting in 24,466 shares beneficially owned.

Does the Form 4 show any derivative transactions for the reporting person?

No. Table II for derivative securities contains no entries; the filing reports only a non-derivative acquisition.

How does the reverse split affect the reported share totals?

The filing states a one-for-twenty-five reverse split effective October 31, 2024, which reduces outstanding share counts and is reflected in the post-transaction ownership total.

When was the Form 4 signed?

The Form 4 is signed by Larry G. Swets Jr. and dated 08/19/2025.

What transaction code is used and what does it mean?

The transaction code reported is A, which indicates an acquisition of securities.

Is the reported purchase material to company ownership?

Based on the filing, the purchase of 119 shares appears to be a routine ESPP acquisition and is not presented as material to overall ownership.