Reliance Global sells Fortman Insurance for $5M; cuts debt 50%, annual savings >$1.8M

Reliance Global Group, Inc.

Closed sale of Fortman Insurance Services for $5M cash; sold at value above 2019 purchase price.
Used ~$5.55M (including restricted cash) to repay ≈50% of long-term debt.
Annual debt service drops from ~$2.95M to ~$1.1M, a reduction of over $1.8M (61%).
CEO Ezra Beyman's base salary increased from $425k to $513k; annual bonus of $593k approved.
Company reaffirms expected completion of Spetner Associates acquisition.

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