---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-018937"
form_type: "8-K"
ticker: "EZRA"
cik: "0001812727"
company_name: "Reliance Global Group, Inc."
filed_at: "2023-05-24T23:59:59+00:00"
generated_at: "2026-06-14T16:08:25.959040+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Reliance Global issues 352,260 shares to settle $1.43M Fortman acquisition obligations

## Summary
- Company issued 176,130 shares each to Jonathan and Zachary Fortman, total 352,260 restricted shares.
- Remaining balance settled: $716,850 per holder, total $1,433,700 in purchase price and earn-out.
- Post-issuance outstanding common stock will be 1,983,308 shares; issuance is ~17.8% of new total.
- If stock closing price below $4.07 on Nov 18, 2023, company must pay cash make-up payment up to $616,850 per holder.
- Shares issued as unregistered under Section 4(a)(2); holders represented as accredited investors.

## SEC filing metadata
- accession: 0001493152-23-018937
- form_type: 8-K
- ticker: EZRA
- cik: 0001812727
- company_name: Reliance Global Group, Inc.
- filed_at: 2023-05-24T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1812727/000149315223018937/0001493152-23-018937-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1812727/000149315223018937/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-018937
- JSON: https://secwatch.observer/filing/0001493152-23-018937.json
- Plain text: https://secwatch.observer/filing/0001493152-23-018937.txt

## Key facts
- Material Agreements
  Reliance Global Group, Inc. amended Second Amendment with Jonathan Fortman, Zachary Fortman, Fortman Insurance Services, LLC, and Fortman Insurance Agency, LLC valued at combined total amount owed of $1,433,700 (effective 2023-05-18).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Jonathan Fortman, Zachary Fortman, Fortman Insurance Services, LLC, and Fortman Insurance Agency, LLC
  - Value: combined total amount owed of $1,433,700
  - Effective: 2023-05-18
  source text: On May 18, 2023, the Parties entered into that certain second amendment to the Purchase Agreement (the “Second Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1812727/000149315223018937/0001493152-23-018937-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.