ALT Form 4: Director Teri Lawver receives 48,800 stock options

Rhea-AI Filing Summary

Altimmune, Inc. (ALT) director Teri L. Lawver received a stock option grant on 09/25/2025 to purchase 48,800 shares of common stock at an exercise price of $3.92 per share. The option becomes exercisable in substantially equal monthly installments over the 12 months following 09/25/2025, subject to continued service, and expires on 09/25/2035. Following the reported transaction, the reporting person beneficially owns 48,800 option shares. The Form 4 was signed by an attorney-in-fact on 09/29/2025.

Insights

Corporate Governance Expert

TL;DR: Director received time-based option vesting over one year, a routine equity-based retention mechanism.

The grant to Director Teri L. Lawver is a structured, time-based option that vests in equal monthly installments over 12 months, aligning with common retention practices for board members and executives. The option term of 10 years and fixed exercise price of $3.92 are standard features. The filing discloses direct beneficial ownership of 48,800 option shares post-transaction. No additional governance changes or departures are indicated in this filing.

Securities Analyst

TL;DR: This Form 4 reports a non-derivative option grant; impact appears routine and informational for shareholders.

The Form 4 documents an option grant exercisable into 48,800 shares with an exercise price of $3.92 and a 10-year expiry. The vesting schedule—monthly over 12 months—means shares will become exercisable gradually, contingent on continued service. The filing provides specific numeric details investors may use to track potential future insider exercises or dilution, but it does not include company-wide share counts or pro forma dilution metrics.

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

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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^*

Lawver Teri L

(Last) (First) (Middle)

C/O ALTIMMUNE, INC., 910 CLOPPER ROAD,

SUITE 201S

(Street)

GAITHERSBURG MD 20878

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Altimmune, Inc. [ ALT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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

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 Options (option to buy)	$3.92	09/25/2025		A		48,800		(1)	09/25/2035	Common Stock, par value $0.0001	48,800	$0.00	48,800	D

Explanation of Responses:

1. The shares underlying the option become vested and exercisable in substantially equal monthly installments over the 12 months following September 25, 2025, subject to the reporting person's continued service through the applicable vesting date.

	/s/ Gregory Weaver, as Attorney-in-Fact	09/29/2025
	** 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 option grant did Altimmune director Teri L. Lawver receive on 09/25/2025?

The director received an option to buy 48,800 shares at an exercise price of $3.92 per share, dated 09/25/2025.

When do the options to purchase Altimmune (ALT) shares vest for Teri L. Lawver?

The options vest in substantially equal monthly installments over the 12 months following 09/25/2025, subject to continued service.

What is the expiration date of the options granted to the Altimmune director?

The options expire on 09/25/2035, a 10-year term from the grant date.

How many option shares does the reporting person beneficially own after the transaction?

Following the reported transaction, the reporting person beneficially owns 48,800 option shares.

When was the Form 4 for this transaction signed and filed?

The Form 4 was signed by an attorney-in-fact on 09/29/2025 as shown in the filing.