James Douglas Allen - 16 Jan 2025 Form 4 Insider Report for FlexShopper, Inc. (FPAY)

Reporting relationship: Director
Issuer ticker: FPAY
Reported as of: 16 Jan 2025
Net transaction value: +$42,500
SEC form: 4
Accepted by SEC: 21 Jan 2025, 19:34:20 UTC
Prior SEC filing: 03 Dec 2024
Next SEC filing: 11 Mar 2025
Source filing: View source filing
Reporting owner signature: /s/ James Douglas Allen by H. Russell Heiser Jr, as attorney-in-fact

Key filing fact

James Douglas Allen filed Form 4 for FlexShopper, Inc. (FPAY) on 21 Jan 2025.

Key facts

This page summarizes James Douglas Allen's Form 4 filing for FlexShopper, Inc. (FPAY).
5 reported transactions and 4 derivative rows are listed below.
Accepted by SEC: 21 Jan 2025, 19:34.

Change

Previous filing in this sequence was filed on 03 Dec 2024.
Current net transaction value: +$42,500.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

FPAY transaction

Common Stock

Exercise of in-the-money or at-the-money derivative security

Transaction value: $42,500
Shares: +25,000
Change %: +17%
Price: $1.70
Shares after: 175,000
Date: 16 Jan 2025
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

FPAY transaction Derivative

Subscription Rights (rights to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value: $0
Shares: -25,000
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 16 Jan 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 25,000
Exercise price: $1.70
Footnotes: F2

FPAY transaction Derivative

Series A Rights (rights to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: +25,000
Change %
Price
Shares after: 25,000
Date: 16 Jan 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 25,000
Exercise price
Footnotes: F3

FPAY transaction Derivative

Series B Rights (rights to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: +25,000
Change %
Price
Shares after: 25,000
Date: 16 Jan 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 25,000
Exercise price
Footnotes: F4

FPAY transaction Derivative

Series C Rights (rights to buy)

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: +25,000
Change %
Price
Shares after: 25,000
Date: 16 Jan 2025
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 25,000
Exercise price
Footnotes: F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 5 footnotes

Footnote 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").

Footnote 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").

Footnote 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.

Footnote 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.

Footnote 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.

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