SoFi CEO enters prepaid forward contract on 1.5 million shares
Yaakov Beyman, executive vice president, insurance division at Reliance Global Group, Inc. (NASDAQ:RELI), recently sold 20,000 shares of common stock between June 18, 2025, at prices ranging from $3.00 to $3.1149, netting $61,149. The micro-cap insurance company, currently valued at $4.1 million, has seen its stock decline over 65% in the past year, though InvestingPro analysis suggests the stock may be undervalued at current levels.
According to a Form 4 filing with the Securities and Exchange Commission, Beyman sold 10,000 shares at $3.00 per share and another 10,000 shares at $3.1149 per share on June 18.
On July 16, Beyman also disposed of 6,078 shares at $1.4198, to cover tax obligations, for a total value of $8,629.
On July 18, Beyman acquired 186,567 shares of common stock with a value of $0. These shares were granted as part of the Reliance Global Group Inc. 2025 Equity Incentive Plan. The grant vests in 8 equal bimonthly installments beginning October 15, 2025 and ending on January 31, 2026.
Following these transactions, Beyman directly owns 250,964 shares of Reliance Global Group.
In other recent news, Reliance Global Group has made several notable announcements. The company has increased its revolving credit facility limit with YES Americana Group to $2 million, up from the previous $600,000. This amendment includes a revised Revolving Note, ensuring the principal amount payable will be the greater of $1,075,064 or the total outstanding loans. Additionally, Reliance Global Group has filed financial statements related to its proposed acquisition of Spetner Associates, providing both audited and unaudited financials for recent periods. The company also signed a non-binding Letter of Intent to sell its subsidiary, Fortman Insurance Agency, for $5 million in cash. In another development, Reliance Global Group has withdrawn its S-1 registration statement, halting plans for a public offering. The company has also adjusted director compensation, increasing annual cash retainers and equity awards for executive officers. These adjustments reflect a rise in annual compensation for non-employee directors, with specific increases for committee chairs.
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