John Davis - Jan 16, 2025 Form 4 Insider Report for FlexShopper, Inc. (FPAY)

Role: COO
Signature: /s/ John Davis by H. Russell Heiser Jr, as attorney-in-fact
Stock symbol: FPAY
Transactions as of: Jan 16, 2025
Transactions value $: $26,248
Form type: 4
Date filed: 1/21/2025, 06:55 PM
Previous filing: Oct 11, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	FPAY	Common Stock	Exercise of in-the-money or at-the-money derivative security	$26.2K	+15.4K	+20.1%	$1.70	92.3K	Jan 16, 2025	Direct	F1

Showing 1 to 1 of 1 entries

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	FPAY	Subscription Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security	$0	-15.4K	-100%	$0.00	0	Jan 16, 2025	Common Stock	15.4K	$1.70	Direct	F2
transaction	FPAY	Series A Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security		+15.4K			15.4K	Jan 16, 2025	Common Stock	15.4K		Direct	F3
transaction	FPAY	Series B Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security		+15.4K			15.4K	Jan 16, 2025	Common Stock	15.4K		Direct	F4
transaction	FPAY	Series C Rights (rights to buy)	Exercise of in-the-money or at-the-money derivative security		+15.4K			15.4K	Jan 16, 2025	Common Stock	15.4K		Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents the number of shares of common stock of the issuer that the reporting person purchased in the issuer's rights offering pursuant to the exercise of subscription rights, as described in footnote (2) and the issuer's prospectus, dated December 2, 2024 (the "Prospectus").
F2	The issuer issued, at no charge, two non-transferrable subscription rights for each share of common stock beneficially owned or issuable upon conversion of issuer's preferred stock, on December 2, 2024, the record date, to purchase units at $1.70. The reporting person purchased the units, each consisting of one share of common stock, one series A common stock purchase right ("Series A Right"), one series B common stock purchase right ("Series B Right") and one series C common stock purchase right ("Series C Right").
F3	The Series A Rights are exercisable commencing on their date of issuance at an exercise price equal to the higher of (x) $1.70 or (y) 90% of the volume weighted average price ("VWAP") of the issuer's common stock over the last three trading days prior to the expiration date of the Series A Rights on February 15, 2025, which is 30 days following January 16, 2025, but in any event not to exceed $2.55.
F4	The Series B Rights are exercisable commencing on their date of issuance at an exercise price equal to the higher of (x) $1.70 or (y) 87.5% of the VWAP of the issuer's common stock over the last three trading days prior to the expiration date of the Series B Rights on March 17, 2025, which is 60 days following January 16, 2025, but in any event not to exceed $3.40.
F5	The Series C Rights are exercisable commencing on their date of issuance at an exercise price equal to the higher of (x) $1.70 or (y) 85% of the VWAP of the issuer's common stock over the last three trading days prior to the expiration date of the Series C Rights on April 16, 2025, which is 90 days following January 16, 2025, but in any event not to exceed $4.25.