ALT Form 4: Director Philip Hodges receives 48,800 stock options

Rhea-AI Filing Summary

Altimmune, Inc. director Philip Hodges was granted a stock option on 09/25/2025 to buy 48,800 shares of Altimmune 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 the grant date, subject to Hodges' continued service, and expires on 09/25/2035. After this grant, the reporting person beneficially owns 48,800 underlying shares on a direct basis. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person.

Positive

• Equity grant disclosed with clear terms: 48,800 options at $3.92, providing transparency
• Standard time‑based vesting over 12 months, aligning vesting with continued service
• Long expiration (through 09/25/2035) gives holder extended time to exercise

Negative

• None.

Insights

Securities Analyst

TL;DR: Director received a time‑vested option for 48,800 shares at $3.92, exercisable monthly over one year, expiring in 2035.

This grant is a routine director equity award documented on a Form 4. The exercise price and total option quantity are explicitly stated, along with a 12‑month vesting schedule measured from the grant date and a ten‑year contractual life. For investors, the filing signals a non‑cash compensation event increasing potential dilution by 48,800 shares if fully exercised, and establishes the strike price at $3.92 for any future exercise decisions.

Corporate Governance Expert

TL;DR: Director option grant follows standard governance practice: time‑based vesting over 12 months with ten‑year term.

The disclosure shows a direct beneficial ownership of the optioned shares and a clear vesting condition tied to continued service. The instrument and terms are typical for director compensation and are fully disclosed on the Form 4. No unusual acceleration clauses, transfers, or indirect ownership structures are indicated in the filing.

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^*

Hodges Philip

(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).
** 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 (ALT) director Philip Hodges receive?

Philip Hodges was granted an option to buy 48,800 shares of Altimmune common stock.

What is the exercise price and term of the option reported on Form 4?

The option has an exercise price of $3.92 per share and expires on 09/25/2035.

When do the options vest for the reporting person?

The shares underlying the option vest and become exercisable in substantially equal monthly installments over the 12 months following 09/25/2025, subject to continued service.

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

Following the reported transaction, the reporting person beneficially owns 48,800 shares (direct ownership).

Was the Form 4 signed by the reporting person?

The filing shows the Form 4 was executed by an attorney‑in‑fact on behalf of the reporting person.