ADMA Insider Filing: Grossman 10b5-1 Option Exercise and Share Sales

Rhea-AI Filing Summary

Adam S. Grossman, President and CEO and a director of ADMA Biologics, reported multiple transactions on 08/15/2025 under a Rule 10b5-1 plan. He exercised an option covering 15,000 shares with an exercise/conversion price of $5.40 and simultaneously sold 21,000 shares (15,000 and 6,000) at $16.88 per share. Following these transactions the reporting person directly beneficially owns 2,031,850 shares. He also has indirect interests of 1,143,426 shares through Areth, LLC and 580,957 shares through Hariden, LLC. Footnotes disclose large unvested RSU balances totaling 1,033,166 shares across multiple grants and an outstanding option schedule tied to a 2024 grant.

Positive

• Transactions executed under a Rule 10b5-1 plan, indicating pre-arranged trading and procedural compliance
• Reporting includes detailed footnotes on RSU grants, option vesting and indirect ownership, enhancing transparency

Negative

• Insider sold 21,000 shares on the same date, which could be viewed negatively by some investors despite being pre-planned
• Substantial unvested RSU and option pools (over one million unvested RSUs disclosed) present potential future dilution

Insights

Financial Analyst

TL;DR: Insider exercised options and sold shares under a 10b5-1 plan; holdings remain sizeable and sales were at prices above exercise cost.

The reporting shows a routine exercise of a $5.40 option for 15,000 shares and concurrent open-market sales of 21,000 shares at $16.88 on 08/15/2025 executed pursuant to a Rule 10b5-1 plan. The transactions increased direct share count to 2,031,850 while leaving substantial indirect holdings via two LLCs. The disclosed unvested RSU pools (totaling over one million shares across grants) and the outstanding option schedule could meaningfully affect future dilution as vesting and potential exercises occur.

Corporate Governance Expert

TL;DR: Transactions appear compliant and pre-planned under a 10b5-1 plan, supporting procedural transparency.

The form explicitly notes a Rule 10b5-1 trading plan dated December 5, 2024 and provides customary footnote disclosure on option and RSU vesting schedules and indirect ownership via managed entities. The filing is detailed about vesting timelines and managerial roles, which aids governance transparency. No amendments or corrective disclosures are indicated in the form content.

Insider Trade Summary

Net Seller: 21,000 shares ($354,480)

Net Sell 6 txns

Insider Grossman Adam S

Role President and CEO

Sold 21,000 shs ($354K)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)	15,000	$0.00	--
Exercise	Common Stock	15,000	$5.40	$81K
Sale	Common Stock	15,000	$16.88	$253K
Sale	Common Stock	6,000	$16.88	$101K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (right to buy) — 780,950 shares (Direct); Common Stock — 2,052,850 shares (Direct); Common Stock — 1,143,426 shares (Indirect, See Footnote)

Footnotes (1)

1. Transaction was effected pursuant to a Rule 10b5-1 trading plan entered into between the reporting person and Fidelity Brokerage Services LLC on December 5, 2024, as previously disclosed by the issuer. The price reported in Column 4 is the price at which the shares were sold. Includes, as of the transaction date, (i) 252,022 unvested RSUs granted on February 19, 2025, vesting quarterly on each annual anniversary of the date of grant over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting; (ii) 418,296 unvested RSUs granted on February 26, 2024, vesting quarterly on each annual anniversary of the date of grant over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting; (continued from footnote 3) (iii) 286,848 unvested RSUs granted on March 6, 2023 that will vest quarterly on each annual anniversary of the date of grant, over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting; (continued from footnote 4) (iv) 75,000 unvested RSUs granted on March 7, 2022 that will vest quarterly on each annual anniversary of the date of grant, over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting; and (v) 999,684 shares of common stock owned by the reporting person, which reflects prior purchases and the prior net settlement upon vesting of previously granted RSUs after the withholding of shares to cover applicable taxes. These shares are owned by Areth, LLC ("Areth"). The reporting person is a control person of Areth. These shares are owned by Hariden, LLC ("Hariden"). The reporting person is the managing member of Hariden. The option was granted on February 26, 2024 and vests over four years with 25% of the shares of common stock underlying the option (i.e., 217,737 shares) vesting on February 26, 2025, the one-year anniversary of the date of grant, and the remaining 75% of such shares vesting monthly in equal installments over the next three years, becoming fully vested on February 26, 2028.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED 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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check 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^*

Grossman Adam S

(Last) (First) (Middle)

C/O ADMA BIOLOGICS, INC.

465 STATE ROUTE 17

(Street)

RAMSEY NJ 07446

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ADMA BIOLOGICS, INC. [ ADMA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/15/2025		M		15,000(1)	A	$5.4	2,052,850	D
Common Stock	08/15/2025		S		15,000(1)	D	$16.88(2)	2,037,850	D
Common Stock	08/15/2025		S		6,000(1)	D	$16.88(2)	2,031,850(3)(4)(5)	D
Common Stock								1,143,426	I	See Footnote(6)
Common Stock								580,957	I	See Footnote(7)

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$5.4	08/15/2025		M			15,000(1)	(8)	02/26/2034	Common Stock	15,000	$0	780,950	D

Explanation of Responses:

1. Transaction was effected pursuant to a Rule 10b5-1 trading plan entered into between the reporting person and Fidelity Brokerage Services LLC on December 5, 2024, as previously disclosed by the issuer.

2. The price reported in Column 4 is the price at which the shares were sold.

3. Includes, as of the transaction date, (i) 252,022 unvested RSUs granted on February 19, 2025, vesting quarterly on each annual anniversary of the date of grant over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting; (ii) 418,296 unvested RSUs granted on February 26, 2024, vesting quarterly on each annual anniversary of the date of grant over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting;

4. (continued from footnote 3) (iii) 286,848 unvested RSUs granted on March 6, 2023 that will vest quarterly on each annual anniversary of the date of grant, over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting;

5. (continued from footnote 4) (iv) 75,000 unvested RSUs granted on March 7, 2022 that will vest quarterly on each annual anniversary of the date of grant, over four years, subject to the reporting person's continued service as of the applicable vesting date and that will be settled into common stock upon vesting; and (v) 999,684 shares of common stock owned by the reporting person, which reflects prior purchases and the prior net settlement upon vesting of previously granted RSUs after the withholding of shares to cover applicable taxes.

6. These shares are owned by Areth, LLC ("Areth"). The reporting person is a control person of Areth.

7. These shares are owned by Hariden, LLC ("Hariden"). The reporting person is the managing member of Hariden.

8. The option was granted on February 26, 2024 and vests over four years with 25% of the shares of common stock underlying the option (i.e., 217,737 shares) vesting on February 26, 2025, the one-year anniversary of the date of grant, and the remaining 75% of such shares vesting monthly in equal installments over the next three years, becoming fully vested on February 26, 2028.

	/s/ Adam S. Grossman, by Michael A. Goldstein as Attorney-in-fact	08/15/2025
	** Signature of Reporting Person	Date
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did ADMA insider Adam Grossman do on 08/15/2025?

He exercised 15,000 option shares (exercise price $5.40) and sold 21,000 shares (sales at $16.88) pursuant to a Rule 10b5-1 plan.

How many ADMA shares does Adam Grossman directly and indirectly own after the transactions?

He directly owns 2,031,850 shares and indirectly holds 1,143,426 shares via Areth, LLC and 580,957 shares via Hariden, LLC.

Are these trades part of a 10b5-1 trading plan for ADMA (ADMA)?

Yes. The Form 4 states the transactions were effected pursuant to a 10b5-1 trading plan entered into with Fidelity Brokerage Services LLC on December 5, 2024.

What unvested equity does the filing disclose for Grossman?

Footnotes disclose unvested RSUs of 252,022, 418,296, 286,848, and 75,000 from various grants, totaling over 1,032,000 unvested RSUs.

What is the vesting schedule for the option exercised or disclosed?

The option from February 26, 2024 vests 25% at the one-year anniversary and the remainder monthly over three years, fully vesting on February 26, 2028.