[Form 4] Inuvo, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Inuvo, Inc. (INUV) CFO Wallace D. Ruiz filed a Form 4 disclosing 31 Jul 2025 insider activity.

• Ruiz converted 15,980 RSUs into common shares at $0 (code M).
• He simultaneously withheld 7,957 shares at $4.88 (code F) to cover taxes.
• Net acquisition: +8,023 shares.

Following the transactions, Ruiz directly owns 110,539 common shares; all reported derivative RSUs were fully settled. Share counts incorporate the company’s 1-for-10 reverse split on 10 Jun 2025. The filing reflects routine equity-compensation settlement rather than open-market buying or selling.

Positive

• CFO increased direct ownership by 8,023 shares, signaling continued equity alignment with shareholders.

Negative

• None.

Insights

Senior Securities Analyst

TL;DR Minor net share increase by CFO via RSU vesting; routine tax withholding; negligible impact on valuation.

The filing shows compensation-related RSU vesting, not discretionary open-market buying. Although the CFO’s direct stake rises 7.8%, the $39 k market value is immaterial to Inuvo’s float and does not alter the insider-sentiment narrative. Code F indicates shares were surrendered solely for tax, a standard practice. No change to capital structure or guidance is implied; thus, the disclosure is neutral for investors.

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^*

RUIZ WALLACE D

(Last) (First) (Middle)

500 PRESIDENT CLINTON AVE.

SUITE 300

(Street)

LITTLE ROCK AR 72201

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Inuvo, Inc. [ INUV ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2025

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	07/31/2025		M		15,980	A	$0.0000	118,496	D
Common Stock	07/31/2025		F		7,957	D	$4.88	110,539	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
Restricted Stock Unit	(1)	07/31/2025		M			15,980(2)	07/31/2025	07/31/2025	Common Stock	15,980	$0.0000	0.0000	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Issuer's Common Stock.

2. Adjusted to reflect a 1-for-10 reverse stock split that occurred on June 10, 2025.

	/s/ Wallace D. Ruiz	08/04/2025
	** 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

How many INUV shares did CFO Wallace Ruiz acquire on 31 Jul 2025?

He converted 15,980 RSUs into common shares and netted 8,023 additional shares after tax withholding.

What price was paid for the vested RSUs?

The RSUs converted at $0 exercise price; tax withholding shares were valued at $4.88 each.

What is Ruiz’s total INUV shareholding after the transaction?

His direct ownership stands at 110,539 common shares.

Were any derivative securities left outstanding?

No. All 15,980 RSUs were settled, leaving zero derivative holdings.

Does the filing indicate open-market buying or selling?

No. Activity relates solely to equity-compensation vesting and tax withholding, not market transactions.

Why do the share numbers reference a reverse split?

Inuvo executed a 1-for-10 reverse split on 10 Jun 2025, and the reported amounts are split-adjusted.