Reliance Global Group director sells $105k in shares

Published 25/07/2025, 04:12
Reliance Global Group director sells $105k in shares

Director Alex Blumenfrucht of Reliance Global Group, Inc. (NASDAQ:RELI) sold 36,249 shares of common stock on June 18, 2025, at a price of $2.9034, totaling $105,245. The sale occurred at a significant premium to the current share price of $1.39, though InvestingPro analysis suggests the stock is undervalued. With a market capitalization of just $4.14 million, RELI is a micro-cap company with a weak overall financial health score.

According to a Form 4 filing with the Securities and Exchange Commission, Blumenfrucht also acquired 66,486 shares of common stock on July 18, 2025, as part of the Reliance Global Group, Inc. 2025 Equity Incentive Plan. The shares were granted at no cost and will vest fully on July 23, 2025.

Following the sale, Blumenfrucht directly owns 484 shares of Reliance Global Group, Inc. After the acquisition, Blumenfrucht directly owns 66,970 shares of the company.

In other recent news, Reliance Global Group has made several notable announcements. The company increased its credit facility limit with YES Americana Group to $2 million from the previous $600,000, as indicated in a recent SEC filing. Additionally, Reliance Global Group submitted financial statements for its proposed acquisition of Spetner Associates, providing both audited and unaudited financials for the past two years. The company also signed a non-binding Letter of Intent to sell its Fortman Insurance Agency for $5 million, which is stated to be a premium over the original acquisition cost.

In corporate governance updates, Reliance Global Group approved increases in annual cash compensation for its non-employee directors, with specific amounts detailed for various committee chairs. Furthermore, the company has decided to withdraw its S-1 registration and halt its public offering plans, as per their recent SEC filing. These developments reflect a series of strategic and financial adjustments by Reliance Global Group.

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