[Form 4] Allarity Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jeremy R. Graff, President and Chief Development Officer of Allarity Therapeutics, Inc. (ALLR), reported transactions dated 09/30/2025. 39,494 restricted stock units vested and were reported as acquired, and 14,613 shares were disposed of at $1.58 per share, leaving 24,881 shares owned directly after the transactions. The filing also shows 223,430 restricted stock units/derivative securities beneficially owned following the reported transactions. The RSUs convert one-for-one to common stock and stem from grants of 118,483 RSUs on 09/30/2024 and 144,441 RSUs on 01/22/2025, each vesting in three equal annual installments beginning on the first anniversary of the respective grant dates.

Positive

• 39,494 restricted stock units vested on 09/30/2025, increasing insider alignment
• Reporting person beneficially owns 223,430 RSUs/derivative securities after transactions

Negative

• Disposition of 14,613 shares at $1.58 on 09/30/2025 reduced direct holdings to 24,881

Insights

Corporate Insider & Compensation Analyst

Insider vesting and a partial sale changed direct holdings on 09/30/2025.

What it means: The report shows 39,494 RSUs vested and were recorded as acquired while 14,613 shares were sold at $1.58, leaving 24,881 shares held directly after the trades. This reflects routine compensation vesting plus a small disposition.

Why it matters: Vesting increases the insider’s stake and aligns executive compensation with shareholder outcomes, while the modest sale reduces direct holdings but is small relative to total RSUs reported as beneficially owned (223,430).

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
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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^*

Graff Jeremy R.

(Last) (First) (Middle)

C/O ALLARITY THERAPEUTICS, INC

123 E TARPON AVE

(Street)

TARPON SPRINGS FL 34689

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Allarity Therapeutics, Inc. [ ALLR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	09/30/2025		M		39,494	A	(1)	39,494	D
Common Stock	09/30/2025		F		14,613	D	$1.58	24,881	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
Restricted Stock Units	(1)	09/30/2025		M			39,494	(2)	(2)	Common Stock	39,494	$0	223,430	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. On September 30, 2024 and January 22, 2025, the Reporting Person was granted 118,483 and 144,441 restricted stock units, respectively, which vest in three equal annual installments beginning on the first anniversary of the applicable grant date.

Remarks:

President and Chief Development Officer

	/s/ Jeremy R. Graff	10/02/2025
	** 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 Jeremy R. Graff report on Form 4 for ALLR?

The Form 4 reports vesting acquisition of 39,494 restricted stock units and a sale of 14,613 shares at $1.58 on 09/30/2025.

How many shares does Jeremy Graff beneficially own after the reported transactions?

The filing shows 24,881 shares directly owned after the transactions and 223,430 restricted stock units/derivative securities beneficially owned overall.

What are the origins and vesting terms of the RSU grants listed?

Grants include 118,483 RSUs on 09/30/2024 and 144,441 RSUs on 01/22/2025, each vesting in three equal annual installments starting on the first anniversary of the grant date.

What is Jeremy Graff’s role at Allarity Therapeutics as stated on the form?

The form lists him as President and Chief Development Officer.

When was the Form 4 signed and filed?

The signature on the Form 4 is dated 10/02/2025.