[Form 4] Alto Neuroscience Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing – Insider transaction at Gevo (GEVO)

Executive Vice President L. Lynn Smull reported the disposition of 3,928.83 shares of Gevo common stock on 01 Jul 2025 at an average price of $1.33 per share. The shares were held in and sold through the company’s 401(k) plan; a footnote clarifies that 20.63 of those shares were liquidated between 11 Jun 2025 and 07 Jul 2025 to cover plan administrative fees.

After the transaction, Smull’s indirect 401(k) position stands at 18,098.05 shares. A separate line in the filing indicates 1,171,550 shares of direct ownership, suggesting the officer maintains a substantial equity stake. No derivative securities were reported, and the filing does not reference the use of a Rule 10b5-1 trading plan.

The sale represents a very small fraction of Smull’s total holdings and is unlikely to have a material effect on Gevo’s share float or signal a strategic outlook change. The form appears timely and complete, satisfying Section 16 reporting obligations.

Insights

Securities Analyst

TL;DR: Small administrative insider sale; neutral impact on valuation.

The 3,929-share sale equals roughly 0.3% of the officer’s reported direct and indirect holdings (>1.19 million shares). Proceeds (~$5,200) are immaterial relative to Gevo’s market cap and were used to cover 401(k) fees, per the footnote. With no derivatives, accelerated vesting, or 10b5-1 plan disclosed, the filing reads as routine. I view the event as non-signal for investors and maintain a neutral stance.

Corporate Governance Expert

TL;DR: Routine plan-related sale; governance neutral.

The filing is on time, includes attorney-in-fact signature, and discloses the administrative purpose of the sale, indicating good compliance practice. The officer’s continued large holding aligns interests with shareholders. No red flags or unusual patterns emerge, so governance impact is considered neutral.

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
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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^*

Smith Nicholas Conrad

(Last) (First) (Middle)

C/O ALTO NEUROSCIENCE, INC.

650 CASTRO STREET, SUITE 450

(Street)

MOUNTAIN VIEW CA 94041

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Alto Neuroscience, Inc. [ ANRO ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF FINANCIAL OFFICER & CBO

3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025

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
Employee Stock Option (Right to Buy)	$2.35	07/03/2025		A		44,962		(1)	09/21/2032	Common Stock	44,962	(2)(3)	44,962	D
Employee Stock Option (Right to Buy)	$6.23	07/03/2025		D			44,962	(1)	09/21/2032	Common Stock	44,962	(2)(3)	0	D
Employee Stock Option (Right to Buy)	$2.35	07/03/2025		A		33,833		(4)	04/13/2033	Common Stock	33,833	(2)(3)	33,833	D
Employee Stock Option (Right to Buy)	$6.23	07/03/2025		D			33,833	(4)	04/13/2033	Common Stock	33,833	(2)(3)	0	D
Employee Stock Option (Right to Buy)	$2.35	07/03/2025		A		202,329		(5)	12/19/2033	Common Stock	202,329	(2)(3)	202,329	D
Employee Stock Option (Right to Buy)	$5.3	07/03/2025		D			202,329	(5)	12/19/2033	Common Stock	202,329	(2)(3)	0	D
Employee Stock Option (Right to Buy)	$2.35	07/03/2025		A		90,000		(6)	02/28/2034	Common Stock	90,000	(2)(3)	90,000	D
Employee Stock Option (Right to Buy)	$14.88	07/03/2025		D			90,000	(6)	02/28/2034	Common Stock	90,000	(2)(3)	0	D
Employee Stock Option (Right to Buy)	$2.35	07/03/2025		A		135,000		(7)	02/04/2035	Common Stock	135,000	(2)(3)	135,000	D
Employee Stock Option (Right to Buy)	$4.2	07/03/2025		D			135,000	(7)	02/04/2035	Common Stock	135,000	(2)(3)	0	D

Explanation of Responses:

1. One forty-eighth (1/48th) of the shares underlying the option vested or shall vest on a monthly basis commencing on the one-month anniversary of September 21, 2022, subject to the Reporting Person's continuous service through such vesting date.

2. The transactions reported herein reflect a one-time stock option repricing (the "Option Repricing") effective on July 3, 2025 (the "Repricing Date"). The Option Repricing applies to options with exercise prices greater than $2.35 per share held by continuing employees of the Issuer as of the Repricing Date.

3. Pursuant to the Option Repricing, the exercise price of the repriced options has been amended to reduce the exercise price to $2.35 per share, the closing price of the Issuer's common stock on the Repricing Date. However, if an employee exercises a repriced option before the end of a retention period of one year (subject to earlier termination in certain circumstances), such employee will be required to pay the original exercise price per share of such repriced option. There is no change to the vesting schedules, expiration dates of, or number of shares underlying the repriced options.

4. 25% of the shares underlying the option vested on January 1, 2024, and one forty-eighth (1/48th) of the shares underlying the option vested or shall vest in monthly installments thereafter, subject to the Reporting Person's continuous service through each such vesting date.

5. One-third (1/3rd) of the shares underlying the option vested upon the completion of the Issuer's initial public offering and two-thirds (2/3) of the shares underlying the option vested or shall vest over a period of four years. 25% of the shares underlying the time-based portion vested on December 20, 2024, and 1/48 of the shares underlying the time-based portion vested or shall vest on a monthly basis thereafter, subject to the Reporting Person's continuous service through such vesting date.

6. 25% of the shares underlying the option vested on March 1, 2025, and one forty-eighth (1/48th) of the shares underlying the option vested or shall vest in monthly installments thereafter, subject to the Reporting Person's continuous service through each such vesting date.

7. 25% of the shares underlying the option shall vest on February 5, 2026, and one forty-eighth (1/48th) of the shares underlying the option shall vest in monthly installments thereafter, subject to the Reporting Person's continuous service through each such vesting date.

Remarks:

	/s/ Erin R. McQuade, Attorney-in-Fact	07/08/2025
	** 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

How many GEVO shares did EVP L. Lynn Smull sell on July 1, 2025?

He disposed of 3,928.83 shares of common stock.

At what price were the shares sold?

The reported average sale price was $1.33 per share.

How many GEVO shares does Smull still own after the sale?

He retains 18,098.05 shares in the 401(k) plus 1,171,550 shares held directly.

Why were the shares sold from the 401(k) plan?

The filing notes that 20.63 shares were sold to cover 401(k) administrative fees.

Did the Form 4 disclose any derivative security transactions?

No. The derivative securities table shows no activity.

Was the transaction made under a Rule 10b5-1 trading plan?

The filing does not indicate that a Rule 10b5-1 plan was used.