Fluent (FLNT) director and 10% owner details stock sales, warrants

Rhea-AI Filing Summary

Fluent, Inc. director and 10% owner James P. Geygan reported indirect sales of the company’s common stock through Global Value Investment Corporation (GVIC). On December 16, 2025, a GVIC-managed client account sold 25,400 shares of Fluent common stock at a weighted average price of $2.082, leaving 2,973,495 shares beneficially owned indirectly. On December 17, 2025, the account sold another 15,170 shares at a weighted average price of $2.0447, reducing indirect beneficial ownership to 2,958,325 shares.

The filing states these were non-discretionary, unsolicited trades executed at the sole direction of the account owner for tax management purposes. Geygan also reports both direct and indirect holdings of pre-funded warrants and warrants exercisable into Fluent common stock. The pre-funded warrants become exercisable only after stockholder approval and terminate when fully exercised, while the warrants become exercisable after stockholder approval and expire three years from issuance. Geygan disclaims beneficial ownership of GVIC-managed securities beyond any pecuniary interest.

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

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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^*

GEYGAN JAMES

(Last) (First) (Middle)

300 VESEY SREET

9TH FLOOR

(Street)

NEW YORK NY 10282

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/16/2025

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	12/16/2025		J(1)		25,400	D	$2.082(2)	2,973,495	I	By Global Value Investment Corporation(3)
Common Stock	12/17/2025		J(1)		15,170	D	$2.0447(2)	2,958,325	I	By Global Value Investment Corporation(3)
Common Stock								69,647	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
Pre-Funded Warrants	$0.0005							(4)	(5)	Common Stock	11,366		11,366	D
Warrants	$2.2							(6)	(7)	Common Stock	11,366		11,366	D
Pre-Funded Warrants	$0.0005							(4)	(5)	Common Stock	67,059		67,059	I	By Global Value Investment Corporation(3)
Warrants	$2.2							(6)	(7)	Common Stock	67,059		11,366	I	By Global Value Investment Corporation(3)

Explanation of Responses:

1. On December 16, 2025, and December 17, 2025, GVIC executed non-discretionary, unsolicited trades in a client account, at the sole direction of the account owner, for the purpose of tax management.

2. 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.

3. 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"). The reporting person is the CEO and President of GVIC. These securities may be deemed to be beneficially owned by GVIC because it serves as the investment manager and/or investment advisor to separately managed accounts, investment partnerships, and/or individuals, and by the reporting person because he exercises significant managerial control over GVIC. 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.

4. The Pre-Funded Warrants will be exercisable after stockholder approval of the offering of the Pre-Funded Warrants.

5. The Pre-Funded Warrants will terminate when exercised in full.

6. The Warrants will be exercisable after stockholder approval of the offering of the Warrants.

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

	James P. Geygan	12/18/2025
	** 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).
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FAQ

What insider transactions did Fluent (FLNT) director James P. Geygan report?

James P. Geygan reported indirect sales of Fluent common stock through Global Value Investment Corporation (GVIC). On December 16, 2025, a GVIC-managed client account sold 25,400 shares at a weighted average price of $2.082. On December 17, 2025, it sold another 15,170 shares at a weighted average price of $2.0447.

How many Fluent (FLNT) shares does James P. Geygan report beneficially owning after these trades?

After the reported transactions, James P. Geygan reports 2,958,325 shares of Fluent common stock as indirectly beneficially owned through Global Value Investment Corporation–managed accounts. He disclaims beneficial ownership except to the extent of any pecuniary interest.

What is James P. Geygan’s relationship to Fluent (FLNT)?

James P. Geygan is reported as a Director and a 10% Owner of Fluent, Inc. He is also the CEO and President of Global Value Investment Corporation, which manages the accounts that hold Fluent securities.

Were the reported Fluent (FLNT) stock sales discretionary trades by James P. Geygan?

No. The explanation states that on December 16 and 17, 2025, GVIC executed non-discretionary, unsolicited trades in a client account, at the sole direction of the account owner, and that these trades were made for tax management purposes.

What derivative securities tied to Fluent (FLNT) does James P. Geygan report holding?

James P. Geygan reports holdings of pre-funded warrants and warrants exercisable for Fluent common stock, both directly and indirectly through GVIC-managed accounts. Certain pre-funded warrants have an exercise price of $0.0005 per share, and certain warrants have an exercise price of $2.20 per share, each relating to specified numbers of underlying Fluent shares.

When do the reported Fluent (FLNT) pre-funded warrants and warrants become exercisable and when do they expire?

The filing states that the pre-funded warrants become exercisable after stockholder approval of the offering of the pre-funded warrants and terminate when exercised in full. The warrants become exercisable after stockholder approval of the offering of the warrants and will expire three years from the date of issuance.

How does James P. Geygan describe his beneficial ownership of Fluent (FLNT) securities held through GVIC?

The filing notes that securities held in GVIC-managed accounts may be deemed beneficially owned by GVIC and by James P. Geygan due to his managerial control. However, he disclaims beneficial ownership of those securities except to the extent of his pecuniary interest, if any.