ALZN insider Milton Ault converts Series B and reports multi‑day sales

Rhea-AI Filing Summary

Milton C. Ault III, a director of Alzamend Neuro, Inc. (ALZN), reported multiple transactions in early October 2025. On 10/01/2025 he converted Series B convertible preferred shares into 100,000 shares of common stock at a conversion price of $2.32. On 10/01–10/03/2025 he sold common shares in open-market transactions: 36,777 shares on 10/01 at a VWAP of $2.3487, 20,686 shares on 10/02 at $2.394, and 65,903 shares on 10/03 at a VWAP of $2.4413, totaling 123,366 shares sold.

The Form 4 lists changing beneficial ownership figures tied to Ault-controlled entities: following the conversion Ault Lending is reported with 131,626 shares beneficially owned, which moved to 94,849, then 74,163, and then 8,260 after the sales. Additional holdings are shown for Ault Life Sciences, Inc. (11,068) and Ault Life Sciences Fund, LLC (61), with voting and investment power described in the filing.

Positive

• Conversion of Series B into 100,000 common shares at $2.32 is transparently disclosed

Negative

• Insider sales totaled 123,366 shares across 10/01–10/03/2025, reducing Ault Lending's beneficial holdings to 8,260
• Sales were sizeable and executed over multiple days, with VWAPs disclosed (e.g., $2.3487, $2.394, $2.4413)

Insights

Corporate Governance Expert

Insider converted preferred into common then sold a material block across three days.

The filing documents a Series B conversion into 100,000 common shares on 10/01/2025, followed by open-market sales totaling 123,366 shares across 10/01–10/03/2025. The filing explicitly identifies Ault Lending, Ault Life Sciences, and Ault Life Sciences Fund as record holders for which Mr. Ault has voting and investment power.

This matters because Form 4 disclosures show changes in insider ownership and potential supply added to the market; the filing gives VWAPs and price ranges for the sales and offers to provide detailed per-price sale information to the SEC on request.

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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	10/01/2025		C		100,000(1)	A	$2.32	131,626	I	By Ault Lending, LLC(2)
Common Stock	10/01/2025		S		36,777	D	$2.3487(3)	94,849	I	By Ault Lending, LLC(2)
Common Stock	10/02/2025		S		20,686	D	$2.394	74,163	I	By Ault Lending, LLC(2)
Common Stock	10/03/2025		S		65,903	D	$2.4413(4)	8,260	I	By Ault Lending, LLC(2)
Common Stock								1,843	D
Common Stock								11,068	I	By Ault Life Sciences, Inc.(5)
Common Stock								61	I	By Ault Life Sciences Fund, LLC(6)

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(7)	10/01/2025		C			232	01/31/2024	(8)	Common Stock	100,000	$1,000	607.2447	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"). Milton C. Ault, III, 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. The common stock was sold by the reporting person in open market transactions on the transaction date, with a volume weighted average sale price of $2.3487. The range of sales prices on the transaction date was $2.317 to $2.4038 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price.

4. The common stock was sold by the reporting person in open market transactions on the transaction date, with a volume weighted average sale price of $2.4413. The range of sales prices on the transaction date was $2.4409 to $2.467 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price.

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

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

7. 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.

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

Remarks:

	/s/ Milton C. Ault, III	10/03/2025
	** 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

Who filed the Form 4 for ALZN?

Milton C. Ault III, Director, filed the Form 4 reporting transactions in Alzamend Neuro (ALZN).

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

The filing reports conversion of Series B into 100,000 common shares at a conversion price of $2.32.

How many shares did the reporting person sell and when?

The reporting person sold a total of 123,366 shares in open-market transactions on 10/01/2025 (36,777), 10/02/2025 (20,686), and 10/03/2025 (65,903), with disclosed VWAPs.

Which entities hold the shares reported on the Form 4?

The filing shows beneficial ownership through Ault Lending, LLC, Ault Life Sciences, Inc., and Ault Life Sciences Fund, LLC, with Mr. Ault having voting and investment power for those records.

Are sale prices and price ranges disclosed?

Yes. The filing discloses VWAPs and intraday price ranges for the sales (e.g., VWAP $2.3487 on 10/01 with range $2.317–$2.4038).