[Form 4] APPLIED ENERGETICS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Gregory J. Quarles, listed as CEO Emeritus and a director of Applied Energetics, Inc. (AERG), reported a series of transactions on 09/24/2025. The Form 4 shows acquisition of 10,000 shares of common stock at $0.35 per share (transaction code M) and a separate sale of 10,000 shares at $1.92 per share (transaction code S) on the same date. Quarles also holds 10,000 vested options with a $0.35 exercise price exercisable through 04/18/2029, and 1,954,545 restricted stock units that are unvested. Following the reported option activity, the filing lists 4,870,000 shares beneficially owned by Quarles. The form states that the options were issued in exchange for services and that the RSUs remain subject to vesting.

Positive

• Substantial beneficial ownership: Reporting person beneficially owns 4,870,000 shares as stated in the filing
• Large equity-based compensation: The report lists 1,954,545 restricted stock units, indicating significant alignment with company equity

Negative

• Reported sale of shares: A sale of 10,000 shares at $1.92 is disclosed on 09/24/2025
• RSUs unvested: The filing states the 1,954,545 RSUs are subject to vesting and none were vested

Insights

Corporate Governance Expert

TL;DR: Reporting person executed option-related transactions and retains large beneficial ownership plus substantial unvested RSUs.

The filing documents contemporaneous option exercise/acquisition and a sale of equal share quantity on 09/24/2025. The report explicitly notes the options were issued for services rendered, which is a common executive compensation practice. The presence of 1,954,545 unvested RSUs indicates ongoing compensation linkage to future service or performance, and the reported 4,870,000 beneficially owned shares reflects significant insider stake. All observations are drawn directly from the Form 4 without inference.

Securities Analyst

TL;DR: Insider transactions include an acquisition, a sale, outstanding exercisable options, and large unvested RSUs; impact appears routine.

The Form 4 shows a 10,000-share acquisition at $0.35 and a 10,000-share sale at $1.92 on the same date, plus 10,000 exercisable options tied to common shares and a substantial unvested RSU position of 1,954,545 units. The filing explicitly states the options were issued for services. Based solely on the disclosed items, these are definable compensation and liquidity actions by a reporting officer/director; the filing does not provide additional context such as intended use of sale proceeds or vesting schedule details beyond the unvested status.

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).

1. Name and Address of Reporting Person^*

Quarles Gregory James

(Last) (First) (Middle)

C/O APPLIED ENERGETICS, INC.

9070 S. RITA ROAD, SUITE 1500

(Street)

TUCSON AZ 85747

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
APPLIED ENERGETICS, INC. [ AERG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/24/2025

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, par value $0.001 per share	09/24/2025		M		10,000	A	$0.35	10,000	D
Common Stock, par value $0.001 per share	09/24/2025		S		10,000	D	$1.92	0	D

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
Non-Qualified Stock Options	$0.35	09/24/2025		M			10,000	11/18/2019	04/18/2029	Common Stock, par value $.001 per share	10,000	(1)	4,870,000	D
Restricted Stock Units	$0							(2)	11/29/2032	Common Stock, par value $.001 per share	(2)		1,954,545	D

Explanation of Responses:

1. Options were issued in exchange for services rendered as an officer and director of the company.

2. Restricted Stock Units are subject to vesting, and none of them were vested.

	/s/ Gregory J. Quarles	09/26/2025
	** 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 transactions did Gregory J. Quarles report on Form 4 for AERG?

The Form 4 reports a 10,000-share acquisition at $0.35 (code M) and a 10,000-share sale at $1.92 (code S) on 09/24/2025, plus option and RSU holdings.

How many shares does the filing say Gregory J. Quarles beneficially owns (AERG)?

The filing lists 4,870,000 shares beneficially owned following the reported transactions.

What derivative securities does Quarles hold according to the Form 4?

Quarles holds 10,000 exercisable non-qualified stock options with a $0.35 exercise price exercisable since 11/18/2019 and expiring 04/18/2029.

Are there any restricted stock units disclosed by Quarles in this filing?

Yes; the Form 4 discloses 1,954,545 restricted stock units that are subject to vesting and none were vested as of the filing.

Why were the options issued to Quarles, per the Form 4?

The filing explicitly states the options were issued in exchange for services rendered as an officer and director.