Markovits Joel 4

What Happened

• Joel Markovits, CFO of Reliance Global Group, disposed a total of 200,017 shares between Sept and Nov 2025 for aggregate proceeds of approximately $167,232. Transactions include share deliveries to cover tax withholding tied to a previously reported stock grant and multiple open-market sales:
  • 2025-09-03: 6,717 shares delivered (tax withholding) at $0.88 — $5,936
  • 2025-09-03: 155 shares sold at $0.88 — $136
  • 2025-09-04: 30,255 shares sold at $0.88 — $26,609
  • 2025-09-15: 93,808 shares delivered (tax withholding) at $0.87 — $82,054
  • 2025-09-15: 44,082 shares sold at $0.82 — $35,997
  • 2025-11-26: 25,000 shares sold at $0.66 — $16,500
• These transactions are disposals (sales or share deliveries). Tax-withholding deliveries are exempt from Section 16(b) per the filing footnote.

Key Details

• Transaction dates/prices: see list above (Sept 3, Sept 4, Sept 15, Nov 26, 2025).
• Total shares disposed: 200,017; total reported proceeds ≈ $167,232.
• Shares owned after transactions: not specified in the data provided (Form 4 filed did not include post-transaction beneficial ownership here).
• Footnote: F1 indicates share deliveries were to satisfy tax withholding on a previously reported stock grant and are exempt from Section 16(b).
• Timeliness: the Form 4 was filed 2026-03-12 while the transactions occurred Sept–Nov 2025, i.e., the filing was made months after the trades.

Context

• The F-coded transfers are tax-withholding share deliveries related to a grant (common when restricted stock vests); these are not the same as a cash purchase or a market-driven buy. The S-coded entries are open-market or private sales. Sales and tax-withholding disposals are routine insider activity and should be interpreted as dispositions of granted or held shares rather than an explicit statement about company prospects.