Fluent director buys 12,376 shares at $3.38

Fluent, Inc. director James Geygan, via GVIC, reported net purchases and warrant positions alongside small client-directed sales.

Rhea-AI Filing Summary

Fluent, Inc. (FLNT) director and ten percent owner James Geygan, through Global Value Investment Corporation (GVIC), reported mixed trading in Common Stock. On September 14, 2026 GVIC purchased 12,376 shares at a weighted average price of $3.38 per share, while earlier client-directed sales between August 14 and September 1, 2026 totaled 1,915 shares at weighted average prices disclosed in the notes. A separate September 16, 2026 entry reclassified 135 shares after certain managed accounts ceased to be advised by GVIC. Geygan also reports direct ownership of 101,052 Common shares and Warrants, both direct and indirect, exercisable into a total of 78,425 Common shares at an exercise price of $2.20 per share, exercisable following stockholder approval of the Warrant offering on June 17, 2026 and expiring three years from issuance. GVIC and Geygan disclaim beneficial ownership beyond any pecuniary interest, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Buyer: 10,461 shares

Net Buy 10 txns

Insider GEYGAN JAMES

Role Director, 10% Owner

Bought 12,376 shs ($42K)

Sold 1,915 shs ($7K)

Type	Security	Shares	Price	Value
Other	Common Stock F6, F2, F8	135	--	--
Purchase	Common Stock F5, F2, F8	12,376	$3.38	$42K
holding	Warrants F3, F4, F2, F8	--	--	--
holding	Warrants F3, F4	--	--	--
holding	Common Stock	--	--	--
Sale	Common Stock F7, F1, F2, F8	148	$3.23	$478.04
Sale	Common Stock F7, F1, F2, F8	665	$3.58	$2K
Sale	Common Stock F7, F1, F2, F8	2	$4.15	$8.30
Sale	Common Stock F7, F1, F2, F8	500	$4.05	$2K
Sale	Common Stock F7, F1, F2, F8	600	$4.15	$2K

Holdings After Transaction: Common Stock — 3,137,825 shares (Indirect, By Global Value Investment Corporation); Warrants — 67,059 contracts (Indirect, By Global Value Investment Corporation); Warrants — 11,366 contracts (Direct); Common Stock — 101,052 shares (Direct)

Footnotes (8)

1. F1. The reported price represents a weighted average sale price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares sold at each separate price.
2. F2. These securities are held in one or more accounts managed indirectly by Global Value Investment Corporation or its subsidiary or its affiliated persons/entities (collectively, "GVIC"). GVIC may be deemed to have beneficial ownership of these securities because it serves as the investment manager and/or investment advisor to separately managed accounts, investment partnerships, and/or individuals. The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
3. F3. The Warrants are exercisable following stockholder approval of the offering of the Warrants on June 17, 2026.
4. F4. The Warrants will expire three years from the date of issuance.
5. F5. The reported price represents a weighted average purchase price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares purchased at each separate price.
6. F6. As of September 16, 2026, certain separately managed accounts terminated their relationship with, and are no longer advised by, Global Value Investment Corporation. The positions held in such accounts are therefore no longer included herein.
7. F7. GVIC executed unsolicited trades in a client account, at the sole direction of the account owner, for the purpose of a partial account liquidation.
8. F8. The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Key Figures

Common Stock purchase: 12,376 shares at $3.38 per share Common Stock sales: 1,915 shares Net buy-sell shares: 10,461 shares +5 more

8 metrics

Common Stock purchase 12,376 shares at $3.38 per share Indirect purchase by GVIC on September 14, 2026 (weighted average)

Common Stock sales 1,915 shares Indirect sales by GVIC between August 14 and September 1, 2026

Net buy-sell shares 10,461 shares Net of reported Common Stock purchases and sales in this period

Restructuring-related shares removed 135 shares Shares in accounts that stopped being advised by GVIC as of September 16, 2026

Direct Common Stock holding 101,052 shares Directly held by James Geygan as of September 14, 2026

Indirect Warrant underlying shares 67,059 shares Underlying Common Stock for Warrants held indirectly via GVIC

Direct Warrant underlying shares 11,366 shares Underlying Common Stock for Warrants held directly

Warrant exercise price $2.20 per share Exercise price for reported Warrants, exercisable after June 17, 2026 approval

Key Terms

weighted average sale price, weighted average purchase price, separately managed accounts, Warrants, +1 more

5 terms

weighted average sale price financial

"The reported price represents a weighted average sale price."

weighted average purchase price financial

"The reported price represents a weighted average purchase price."

The weighted average purchase price is the average cost per share you paid across multiple buys, calculated so larger purchases count more than smaller ones. Imagine buying apples at different prices: the overall price you effectively paid depends on how many apples you bought at each price. Investors use it to measure true cost basis, calculate gains or losses, decide when to sell, and manage taxes and portfolio performance.

separately managed accounts financial

"These securities are held in one or more accounts managed indirectly by Global Value Investment Corporation or its subsidiary or its affiliated persons/entities (collectively, "GVIC")."

A separately managed account is an investment portfolio owned by a single investor but professionally managed to that investor’s specific goals and preferences, rather than pooled with other clients’ money. It matters to investors because it offers greater customization, tax control and transparency—like hiring a personal chef instead of eating from a shared buffet—though it often requires higher minimums and can have different fee and liquidity implications.

Warrants financial

"The Warrants are exercisable following stockholder approval of the offering of the Warrants on June 17, 2026."

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

pecuniary interest financial

"The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any."

FAQ

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

What Common Stock trades did James Geygan report in FLNT on this Form 4?

Geygan, through GVIC, reported buying 12,376 FLNT shares on September 14, 2026 at a weighted average price of $3.38 per share and selling a total of 1,915 shares between August 14 and September 1, 2026 at weighted average prices described in the filing footnotes.

How many Fluent, Inc. shares does James Geygan hold directly after these transactions?

The filing reports that James Geygan directly holds 101,052 shares of Fluent, Inc. Common Stock as of the holdings line dated September 14, 2026. Additional shares are held indirectly through Global Value Investment Corporation–managed accounts, with beneficial ownership disclaimed beyond any pecuniary interest.

What warrant positions related to FLNT does James Geygan report?

Geygan reports Warrants exercisable for 67,059 FLNT shares held indirectly and Warrants exercisable for 11,366 FLNT shares held directly, all at an exercise price of $2.20 per share. The Warrants become exercisable after stockholder approval on June 17, 2026 and expire three years from issuance.

Were the reported FLNT sales by James Geygan made under a Rule 10b5-1 plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not selected, and a footnote states that GVIC executed unsolicited trades in a client account at the sole direction of the account owner for a partial account liquidation.

What is the nature of James Geygan’s indirect ownership of FLNT shares?

Indirect holdings are in accounts managed by Global Value Investment Corporation or its affiliates. GVIC may be deemed a beneficial owner as investment manager or advisor, but Geygan and GVIC disclaim beneficial ownership except to the extent of any pecuniary interest.

What restructuring in FLNT-related accounts did this Form 4 disclose?

As of September 16, 2026, certain separately managed accounts terminated their relationship with Global Value Investment Corporation. Positions in those accounts, representing 135 shares of FLNT Common Stock, are no longer included in the reported holdings.

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

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Available on EDGAR 09/16/2026 - 09:06 PM Accepted by SEC EDGAR 09/16/2026 - 09:06 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^*

GEYGAN JAMES

(Last) (First) (Middle)

300 VESEY SREET

9TH FLOOR

(Street)

NEW YORK NEW YORK 10282

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
09/14/2026

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	08/14/2026		S(7)		600	D	$4.15(1)	3,126,899	I	By Global Value Investment Corporation(2)(8)
Common Stock	08/17/2026		S(7)		500	D	$4.05(1)	3,126,399	I	By Global Value Investment Corporation(2)(8)
Common Stock	08/25/2026		S(7)		2	D	$4.15(1)	3,126,397	I	By Global Value Investment Corporation(2)(8)
Common Stock	08/28/2026		S(7)		665	D	$3.58(1)	3,125,732	I	By Global Value Investment Corporation(2)(8)
Common Stock	09/01/2026		S(7)		148	D	$3.23(1)	3,125,584	I	By Global Value Investment Corporation(2)(8)
Common Stock	09/14/2026		P		12,376	A	$3.38(5)	3,137,960	I	By Global Value Investment Corporation(2)(8)
Common Stock	09/16/2026		J		135	D	(6)	3,137,825	I	By Global Value Investment Corporation(2)(8)
Common Stock								101,052	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
Warrants	$2.2							(3)	(4)	Common Stock	67,059		67,059	I	By Global Value Investment Corporation(2)(8)
Warrants	$2.2							(3)	(4)	Common Stock	11,366		11,366	D

Explanation of Responses:

1. The reported price represents a weighted average sale price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares sold at each separate price.

2. These securities are held in one or more accounts managed indirectly by Global Value Investment Corporation or its subsidiary or its affiliated persons/entities (collectively, "GVIC"). GVIC may be deemed to have beneficial ownership of these securities because it serves as the investment manager and/or investment advisor to separately managed accounts, investment partnerships, and/or individuals. The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

3. The Warrants are exercisable following stockholder approval of the offering of the Warrants on June 17, 2026.

4. The Warrants will expire three years from the date of issuance.

5. The reported price represents a weighted average purchase price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares purchased at each separate price.

6. As of September 16, 2026, certain separately managed accounts terminated their relationship with, and are no longer advised by, Global Value Investment Corporation. The positions held in such accounts are therefore no longer included herein.

7. GVIC executed unsolicited trades in a client account, at the sole direction of the account owner, for the purpose of a partial account liquidation.

8. The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

	/s/ James P. Geygan	09/16/2026
	** 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)