[Form 4] Alzamend Neuro, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Milton C. Ault III, a director and >10% owner of Alzamend Neuro, Inc. (ALZN), reported transactions on 09/17/2025 and 09/18/2025. On 09/17/2025 he converted Series B convertible preferred stock into 100,000 shares of common stock at a conversion price shown as $2.32, resulting in a reported beneficial ownership of 108,260 shares (indirect) held through Ault Lending, LLC. Also on 09/17/2025 he sold 2,121 shares at $2.4535 and on 09/18/2025 he sold 20,870 shares at $2.4673, reducing reported indirect holdings to 85,269 shares. Additional small indirect holdings are reported through Ault Life Sciences, Inc. and Ault Life Sciences Fund, LLC. The Form 4 is signed 09/19/2025.

Positive

• Conversion disclosed: The Form shows conversion of Series B preferred into 100,000 common shares, increasing common equity held by affiliated entities.
• Detailed trade data: Sales on 09/17/2025 and 09/18/2025 include exact share counts and prices, supporting transparent reporting under Section 16.

Negative

• Reduction in holdings: Reported indirect beneficial ownership decreased from 108,260 to 85,269 shares after the disclosed sales.
• Concentration via affiliates: Significant ownership is indirect through affiliated entities (Ault Lending, Ault Life Sciences entities), which may obscure direct individual exposure.

Insights

Securities Analyst

TL;DR: Routine insider conversion plus modest open-market sales; net indirect holdings remain material but reduced.

The reporting shows a conversion of Series B preferred into common shares followed by timed sales over two days. The conversion increased common shares beneficially owned by entities tied to Mr. Ault, while the subsequent sales materially lowered those indirect holdings from 108,260 to 85,269 shares. This is a standard disclosure under Section 16; the sizes and prices are explicit and there is no indication of related-party unusual terms beyond the conversion mechanics disclosed on the form.

Corporate Governance Expert

TL;DR: Disclosure is complete for Section 16 purposes and shows delegation of voting through affiliated entities.

The Form 4 documents Mr. Ault's status as director and >10% owner and clearly identifies indirect ownership through Ault Lending, Ault Life Sciences, and Ault Life Sciences Fund. The filing includes conversion details and specific sale transactions with prices, supporting transparency about voting and investment power. No abstentions, amendments, or unusual restrictions are disclosed on the face of the form.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

AULT MILTON C III

(Last) (First) (Middle)

11411 SOUTHERN HIGHLANDS PARKWAY

SUITE 190

(Street)

LAS VEGAS NV 89141

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Alzamend Neuro, Inc. [ ALZN ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

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	09/17/2025		C		100,000(1)	A	$2.32	108,260	I	By Ault Lending, LLC(2)
Common Stock	09/17/2025		S		2,121	D	$2.4535	106,139	I	By Ault Lending, LLC(2)
Common Stock	09/18/2025		S		20,870	D	$2.4673	85,269	I	By Ault Lending, LLC(2)
Common Stock								1,843	D
Common Stock								11,068	I	By Ault Life Sciences, Inc.(3)
Common Stock								61	I	By Ault Life Sciences Fund, LLC(4)

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
Series B Convertible Preferred Stock	$2.32(5)	09/17/2025		C			232	01/31/2024	(6)	Common Stock	100,000	$1,000	1,303.2447	I	By Ault Lending, LLC(2)
Common Stock Purchase Warrants	$108							08/01/2024	08/01/2029	Common Stock	13,556		13,556	I	By Ault Lending, LLC(2)
Common Stock Purchase Warrants	$108							09/27/2024	09/27/2029	Common Stock	8,667		8,667	I	By Ault Lending, LLC(2)
Common Stock Purchase Warrants	$108							10/30/2024	10/30/2029	Common Stock	1,111		1,111	I	By Ault Lending, LLC(2)

Explanation of Responses:

1. Represents shares of common stock received upon conversion of Series B convertible preferred stock ("Series B Preferred").

2. Ault Lending, LLC ("Ault Lending"), is a wholly-owned subsidiary of Hyperscale Data, Inc. ("HSD"). Mr. Ault, the Executive Chairman of HSD, is deemed to have voting and investment power with respect to the securities held of record by Ault Lending.

3. Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences, Inc.

4. Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences Fund, LLC.

5. The Conversion Price of the Series B Preferred is subject to adjustment as set forth in that certain Designation of Preferences, Rights and Limitations of the Series B Convertible Voting Preferred Stock.

6. The shares of Series B Preferred have no expiration date.

Remarks:

	/s/ Milton C. Ault, III	09/19/2025
	** 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 did Milton C. Ault III report owning after the transactions in ALZN?

The filing reports indirect beneficial ownership of 85,269 shares in Alzamend Neuro following the 09/17/2025 and 09/18/2025 transactions.

How many shares were received from conversion and at what conversion price?

The Form 4 shows conversion of Series B preferred into 100,000 common shares with a conversion price noted as $2.32.

How many shares did Mr. Ault sell and at what prices?

He sold 2,121 shares at $2.4535 on 09/17/2025 and 20,870 shares at $2.4673 on 09/18/2025, as reported.

Through which entities does Mr. Ault hold indirect beneficial ownership of ALZN?

Indirect holdings are reported through Ault Lending, LLC, Ault Life Sciences, Inc., and Ault Life Sciences Fund, LLC.

When was the Form 4 signed?

The Form 4 is signed by Milton C. Ault, III on 09/19/2025.