SEC FORM 4SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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checkbox uncheckedCheck this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
checkbox uncheckedCheck this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
GLOBAL VALUE INVESTMENT CORP.

(Last)(First)(Middle)
1433 N. WATER STREET
SUITE 400

(Street)
MILWAUKEEWI53202

(City)(State)(Zip)
2. Issuer Name and Ticker or Trading Symbol
Fluent, Inc. [ FLNT ]
Foreign Trading Symbol
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Directorcheckbox checked10% Owner
Officer (give title below)Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
09/14/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
checkbox checkedForm filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock08/14/2026S(9)600D$4.15(1)3,218,566IBy Global Value Investment Corporation(2)(3)(4)
Common Stock08/17/2026S(9)500D$4.05(1)3,218,066IBy Global Value Investment Corporation(2)(3)(4)
Common Stock08/25/2026S(9)2D$4.15(1)3,218,064IBy Global Value Investment Corporation(2)(3)(4)
Common Stock08/28/2026S(9)665D$3.58(1)3,217,399IBy Global Value Investment Corporation(2)(3)(4)
Common Stock09/01/2026S(9)148D$3.23(1)3,217,251IBy Global Value Investment Corporation(2)(3)(4)
Common Stock09/14/2026P12,376A$3.38(7)3,229,627IBy Global Value Investment Corporation(2)(3)(4)
Common Stock09/16/2026J135D(8)3,229,492IBy Global Value Investment Corporation(2)(3)(4)
Common Stock9,385D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Warrants$2.2 (5) (6)Common Stock78,42578,425IBy Global Value Investment Corporation(2)(3)(4)
1. Name and Address of Reporting Person*
GLOBAL VALUE INVESTMENT CORP.

(Last)(First)(Middle)
1433 N. WATER STREET
SUITE 400

(Street)
MILWAUKEEWI53202

(City)(State)(Zip)
1. Name and Address of Reporting Person*
GEYGAN JEFFREY RICHART

(Last)(First)(Middle)
1433 N. WATER STREET
SUITE 400

(Street)
MILWAUKEEWI53202

(City)(State)(Zip)
1. Name and Address of Reporting Person*
GEYGAN JAMES

(Last)(First)(Middle)
300 VESEY SREET
9TH FLOOR

(Street)
NEW YORKNY10282

(City)(State)(Zip)
1. Name and Address of Reporting Person*
Wilke Stacy

(Last)(First)(Middle)
1433 N. WATER STREET
SUITE 400

(Street)
MILWAUKEEWI53202

(City)(State)(Zip)
1. Name and Address of Reporting Person*
Geygan Kathleen

(Last)(First)(Middle)
1433 N. WATER STREET
SUITE 400

(Street)
MILWAUKEEWI53202

(City)(State)(Zip)
1. Name and Address of Reporting Person*
Rice Shawn G

(Last)(First)(Middle)
1433 N. WATER STREET
SUITE 400

(Street)
MILWAUKEEWI53202

(City)(State)(Zip)
Explanation of Responses:
1. The reported price represents a weighted average sale price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares sold at each separate price.
2. These securities are held in one or more accounts managed indirectly by Global Value Investment Corporation or its subsidiary or its affiliated persons/entities (collectively, "GVIC"). GVIC may be deemed to have beneficial ownership of these securities because it serves as the investment manager and/or investment advisor to separately managed accounts, investment partnerships, and/or individuals. The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
3. In addition to Global Value Investment Corp, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.0005 per share ("Common Stock"), of Fluent, Inc. reported on this Form 4.
4. In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.
5. The Warrants are exercisable following stockholder approval of the offering of the Warrants on June 17, 2026.
6. The Warrants will expire three years from the date of issuance.
7. The reported price represents a weighted average purchase price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares purchased at each separate price.
8. As of September 16, 2026, certain separately managed accounts terminated their relationship with, and are no longer advised by, Global Value Investment Corporation. The positions held in such accounts are therefore no longer included herein.
9. GVIC executed unsolicited trades in a client account, at the sole direction of the account owner, for the purpose of a partial account liquidation.
/s/ James P. Geygan, Chief Executive Officer09/16/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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