[Form 4] BioAtla, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Event: On June 18, 2025 BioAtla, Inc. (ticker BCAB) filed a Form 4 disclosing a change in beneficial ownership by director Mary Ann Gray.

Key Details

• Securities granted: 23,500 shares of common stock issued as a time-based restricted stock unit (RSU) award.
• Transaction price: $0, reflecting that the RSU grant was part of equity compensation rather than an open-market purchase.
• Vesting schedule: 100 % of the RSUs will vest on the earlier of (i) June 18, 2026 or (ii) the company’s next annual meeting of stockholders, subject to continued board service.
• Post-transaction holdings: After the grant, Gray’s direct ownership stands at 77,397 shares.

The filing does not report any sales, option exercises, or derivative securities activity beyond this RSU grant. No 10b5-1 trading plan is referenced for the transaction.

Investor context: A single director-level RSU grant of 23.5k shares is routine board compensation and represents roughly 0.06 % of BioAtla’s ~39 million shares outstanding. While it marginally aligns the director’s incentives with shareholders, it is unlikely to have a material impact on valuation, liquidity, or control dynamics.

Insights

Corporate Governance Expert

TL;DR: Routine RSU grant to BioAtla director; no sales, neutral valuation impact, modest alignment with shareholder interests.

The Form 4 reveals a standard board compensation action: Mary Ann Gray received 23,500 RSUs, vesting in one year or at the next AGM. The zero-cost grant increases her direct stake to 77,397 shares. Such awards are typical for small-cap biotech boards and do not signal a management view on share valuation. Absence of sales or 10b5-1 activity suggests no immediate liquidity moves. Given the tiny proportion of shares relative to the float, I classify the disclosure as not impactful for most investors.

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^*

GRAY MARY ANN

(Last) (First) (Middle)

C/O BIOATLA, INC. 11085 TORREYANA ROAD

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BioAtla, Inc. [ BCAB ]

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)
06/18/2025

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	06/18/2025		A		23,500(1)	A	$0	77,397	D

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

Explanation of Responses:

1. Represents shares of Common Stock underlying a time-based restricted stock unit award ("RSU"). The RSU will vest as to 100% of the total number of shares on the earlier of (i) June 18, 2026, or (ii) the next Company annual meeting of stockholders, subject to the reporting person's continued service through the vesting date.

	/s/ Christian Vasquez, as Attorney-in-Fact for Mary Ann Gray	06/18/2025
	** 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 BioAtla (BCAB) disclose in the latest Form 4?

Director Mary Ann Gray received 23,500 RSUs on 18 Jun 2025; no shares were sold.

How many BioAtla shares does Mary Ann Gray own after the transaction?

Her direct beneficial ownership increased to 77,397 common shares.

When will the newly granted RSUs vest?

The RSUs vest 100 % on 18 Jun 2026 or at the next annual shareholder meeting, whichever comes first.

Was this transaction executed under a Rule 10b5-1 trading plan?

The filing does not indicate the use of a Rule 10b5-1 plan.

Did the Form 4 report any insider sales or option exercises?

No. The only activity disclosed was a zero-cost RSU grant.