Form 3: RiverNorth Financial Holdings Reports 0 Shares for RFM

RiverNorth Financial Holdings, LLC filed an Initial Form 3 reporting its relationship to RiverNorth Flexible Municipal Income Fund, Inc. (RFM) as an officer and an affiliate of the adviser.

Rhea-AI Filing Summary

RiverNorth Financial Holdings, LLC filed an Initial Form 3 reporting its relationship to RiverNorth Flexible Municipal Income Fund, Inc. (RFM) as an officer and an affiliate of the adviser. The filing shows 0 common shares beneficially owned, with ownership reported direct (D). The statement is signed by Marc Collins on 09/18/2025, and provides no derivative holdings or additional explanatory information.

Insights

Securities Compliance Analyst

TL;DR: Routine initial Section 16 filing disclosing an officer/affiliate with no reported beneficial ownership.

The Form 3 documents the reporting person’s status as an officer and affiliate of the adviser for RFM but shows no direct economic ownership in common shares and lists no derivative positions. For compliance purposes this establishes an initial disclosure record under Section 16(a). Because the filing reports zero holdings, it is informational rather than corrective or material to shareholders.

Corporate Governance Expert

TL;DR: Administrative disclosure only; it confirms affiliation and officer status without material stake.

The document confirms the reporting entity’s formal relationship to the issuer but does not change governance control or voting power because no shares are reported. This is a standard governance transparency filing and does not indicate a change in ownership, compensatory awards, or potential conflicts that would be material to investors.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider RiverNorth Financial Holdings, LLC

Role Insider

Type	Security	Shares	Price	Value
holding	Common Shares of Beneficial Interest	--	--	--

Holdings After Transaction: Common Shares of Beneficial Interest — 0 shares (Direct)

FAQ

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

What does the Form 3 filed for RFM state about ownership?

The filing states 0 common shares beneficially owned and reports ownership form as Direct (D) with no derivative holdings.

Who filed the Form 3 for RiverNorth Flexible Municipal Income Fund (RFM)?

The Form 3 lists RiverNorth Financial Holdings, LLC as the reporting person and is signed by Marc Collins on 09/18/2025.

What relationship does the reporting person have to RFM?

The reporting person is disclosed as an Officer and an Affiliate of the Adviser to the issuer.

Are there any derivative securities reported in the Form 3?

No. The filing contains no entries in Table II and reports no derivative securities exercisable or outstanding.

Does this Form 3 indicate any material change in control or holdings for RFM?

No. The filing reports no beneficial ownership and therefore does not indicate a material change in control or economic stake.

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

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Accepted by SEC EDGAR 09/18/2025 - 03:49 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

RiverNorth Financial Holdings, LLC

(Last) (First) (Middle)

360 S. ROSEMARY AVE

SUITE 1420

(Street)

WEST PALM BEACH FL 33401

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/18/2025

3. Issuer Name and Ticker or Trading Symbol
RiverNorth Flexible Municipal Income Fund, Inc. [ RFM ]

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Affiliate of the Adviser

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares of Beneficial Interest	0	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Marc Collins	09/18/2025
	** 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 5 (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.