[144] The Bancorp Inc. SEC Filing

Rhea-AI Filing Summary

Amendment No. 2 to Schedule 13G shows that Foundations Investment Advisors, LLC, an Arizona-based registered investment adviser, held 32,442 units of Innovator Equity Managed Floor ETF (CUSIP 45783Y806) on 30 Jun 2025, equal to 10.0 % of the outstanding class. The firm reports sole dispositive power over the entire position but zero voting power, filing under Rule 13d-1(b) applicable to investment advisers.

No other parties form a group and no subsidiary executed the purchase. Standard certifications are included and the document is signed by CCO Marc Pugsley on 29 Jul 2025. The filing signals that an institutional investor now holds a sizable, passive stake, potentially improving perceived support and liquidity for the ETF while concentrating ownership in a single adviser.

Positive

• Institutional support: A registered investment adviser now owns 10 % of the ETF, signalling professional investor confidence.

Negative

• Float concentration: One entity holding a tenth of outstanding shares may heighten liquidity risk if it redeems or reallocates capital.

Insights

Securities Analyst

TL;DR – A passive adviser declares a 10 % stake; limited market impact.

This 13G/A merely updates beneficial ownership. Foundations Investment Advisors controls disposal of 32,442 units but lacks voting rights, underscoring a passive stance. While 10 % ownership reflects institutional confidence and may enhance ETF credibility, the absence of voting power or activist language limits governance implications. Overall, the disclosure is informative yet non-catalytic for valuation.

Risk Analyst

TL;DR – Concentration risk rises as one adviser now holds 10 % of float.

A single investment adviser controlling a tenth of shares can tighten float and elevate liquidity risk if large redemptions occur. However, sole dispositive authority without voting power suggests client-directed ownership, mitigating governance concerns. No red flags on control intentions are present, so overall risk shift is modest.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Raymond James & Associates 880 Carillon Parkway St. Petersburg FL 33716	300000	19530000.00	46710000	07/29/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	07/29/2025	Employee Stock Options	Issuer			300000	07/29/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What percentage of Innovator Equity Managed Floor ETF (SFLR) does Foundations Investment Advisors own?

The filing reports 10.0 % beneficial ownership, equal to 32,442 units.

Does Foundations Investment Advisors have voting power over the shares?

No. The adviser reports zero voting power; it only holds sole dispositive power.

Why was this Schedule 13G/A filed?

Crossing the 5 % ownership threshold requires disclosure; this amendment updates holdings as of 30 Jun 2025.

Is the stake considered passive or activist?

The filing under Rule 13d-1(b) and lack of voting power indicate a passive investment posture.

Who signed the Schedule 13G/A?

Chief Compliance Officer Marc Pugsley signed on 29 Jul 2025 on behalf of Foundations Investment Advisors.