[Form 4] Altimmune, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Wayne Pisano, a director of Altimmune, Inc. (ALT), was granted stock options to purchase 48,800 shares of common stock at an exercise price of $3.92 per share. The options are exercisable beginning on 09/25/2025 and expire on 09/25/2035. The grant vests in substantially equal monthly installments over the 12 months following 09/25/2025, subject to continued service. Following the reported transaction, the reporting person beneficially owns 48,800 option shares, held directly.

Insights

Financial Analyst

TL;DR: Routine director option grant of 48,800 shares at $3.92; limited immediate cash impact.

The option grant to a director is a compensation event that aligns the reporting person's incentives with shareholder value if the share price rises above $3.92. The 10-year term is standard for equity awards and the 12-month monthly vesting schedule spreads service requirements over a predictable period. This disclosure does not show additional cash proceeds or exercised options, and the reported holdings are limited to the newly granted 48,800 options.

Corporate Governance Expert

TL;DR: Governance-standard equity grant with time-based vesting; appears routine and non-accelerated.

The award is described as directly owned and vests monthly over one year, which is a straightforward time-based retention mechanism. There is no indication of accelerated vesting, change-in-control provisions, or derivative disposition in the filing. As disclosed, the transaction is a standard director compensation action and contains the necessary vesting and exercise terms for investor review.

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^*

Pisano Wayne

(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.

Remarks:

Exhibit 24 - Power of Attorney

	/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).
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