[Form 4] Fluent, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Phillip Frost, M.D., and Frost Gamma Investments Trust reported acquisitions in Fluent, Inc. (FLNT) on 08/19/2025. The filing shows the purchase of 571,429 pre-funded warrants (priced at $0.0005 each and immediately exercisable for one share) and 571,429 warrants with an exercise price of $2.21. Each class corresponds to 571,429 underlying common shares and is held indirectly by Frost Gamma Investments Trust. The report lists total beneficial ownership following the transactions as 571,429 shares for each instrument.

The filing includes an ownership chain explanation identifying Dr. Frost as trustee of Frost Gamma Investments Trust and outlining related entities; the reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest.

Positive

• Clear disclosure of acquisitions: The Form 4 reports acquisition of 571,429 pre-funded warrants and 571,429 warrants on 08/19/2025.
• Immediate exercisability disclosed: The pre-funded warrants are stated as immediately exercisable for one share each.
• Transparent ownership chain: The filing explains the indirect ownership structure through Frost Gamma entities and identifies Dr. Phillip Frost as trustee.

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider entity acquired 571,429 pre-funded warrants and 571,429 warrants on 08/19/2025; holdings are held indirectly.

The Form 4 discloses two contemporaneous acquisitions: pre-funded warrants immediately exercisable for common shares and standard warrants exercisable at $2.21. Both were acquired on 08/19/2025 and are held indirectly by Frost Gamma Investments Trust. The filing is a routine Section 16 disclosure detailing issuance and ownership structure, including a clear chain of control identifying Dr. Phillip Frost as trustee. No exercise or disposition was reported within this form.

Corporate Governance Expert

TL;DR: Transaction is a standard insider disclosure with an ownership explanation; it clarifies indirect ownership through affiliated entities.

The document provides the statutory explanation of indirect ownership through Frost Gamma entities and includes signed attestations by Dr. Frost as trustee and individually. The explanation follows common practice for affiliated-entity holdings and contains no statements of amendment or correction. This is a compliance-focused filing rather than a corporate governance change or leadership shift.

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
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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^*

FROST PHILLIP MD ET AL

(Last) (First) (Middle)

4400 BISCAYNE BLVD

(Street)

MIAMI FL 33137

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Fluent, Inc. [ FLNT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

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

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

	Form filed by One Reporting Person
X	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

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
Pre-Funded Warrants	$0.0005	08/19/2025		A		571,429		08/19/2025(2)	(2)	Common Stock	571,429	$1.75	571,429	I	Held by Frost Gamma Investments Trust(1)
Warrants	$2.21	08/19/2025		A		571,429		(3)	(3)	Common Stock	571,429	$0.00	571,429	I	Held by Frost Gamma Investments Trust(1)

1. Name and Address of Reporting Person^*

FROST PHILLIP MD ET AL

(Last) (First) (Middle)

4400 BISCAYNE BLVD

(Street)

MIAMI FL 33137

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Frost Gamma Investments Trust

(Last) (First) (Middle)

4400 BISCAYNE BLVD

(Street)

MIAMI FL 33137

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. These securities are held by Frost Gamma Investments Trust, of which Phillip Frost M.D., is the trustee. Frost Gamma L.P. is the sole and exclusive beneficiary of Frost Gamma Investments Trust. Dr. Frost is one of two limited partners of Frost Gamma L.P. The general partner of Frost Gamma L.P. is Frost Gamma, Inc., and the sole shareholder of Frost Gamma, Inc. is Frost-Nevada Corporation. Dr. Frost is also the sole stockholder of Frost-Nevada Corporation. The reporting persons disclaim beneficial ownership of these securities, except to the extent of any pecuniary interest therein and this report shall not be deemed an admission that any reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

2. Each Pre-Funded Warrant is immediately exercisable for one share of the issuer's common stock, $0.0005 par value per share (the "Common Stock"), and will expire when exercised in full.

3. Each Warrant will be exercisable for one share of Common Stock at any time on or after the date that is six months and one day following the date of issuance for a period of five and one-half years from the date of issuance. Notwithstanding the foregoing, the Warrants shall be exercisable at any time on or after the date that applicable stockholder approval is obtained and deemed effective and such Warrants shall be exercisable until the expiration date.

	/s/ Dr. Phillip Frost, M.D., Trustee	08/21/2025
	/s/ Dr. Phillip Frost, M.D., Individually	08/21/2025
	** 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 Phillip Frost report on Form 4 for Fluent, Inc. (FLNT)?

The Form 4 reports acquisitions on 08/19/2025 of 571,429 pre-funded warrants and 571,429 warrants held indirectly by Frost Gamma Investments Trust.

How many shares underlie the warrants reported in the FLNT Form 4?

Each instrument corresponds to 571,429 underlying common shares, for a total of 1,142,858 potential shares across both instruments.

What are the exercise terms disclosed for the pre-funded warrants and warrants?

The pre-funded warrants have a purchase price of $0.0005 and are immediately exercisable; the warrants have an exercise price of $2.21 with exercisability conditions described in the filing.

Who holds the securities reported on the Form 4?

The securities are reported as indirectly held by Frost Gamma Investments Trust; the filing explains the related partnership and corporate entities and Dr. Frost's trustee role.

When were the transactions reported on the Form 4 executed?

The reported transaction date is 08/19/2025.