[Form 4] BOSTON OMAHA Corp Insider Trading Activity

Rhea-AI Filing Summary

Boston Omaha Corporation director David Graff reported receiving 4,894 shares of Class A common stock on 11/24/2025 for services on the Board of Directors under the company’s 2022 Long-Term Incentive Plan. The grant was made later in the year than usual director option grants and is fully vested. The shares were reported at a price of $12.26 per share, bringing Graff’s directly held Class A shares to 5,894, with an additional 1,000 shares held indirectly through his spouse.

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

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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).

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^*

Graff David S

(Last) (First) (Middle)

C/O BOSTON OMAHA CORPORATION

1601 DODGE STREET, SUITE 3300

(Street)

OMAHA NE 68102

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BOSTON OMAHA Corp [ BOC ]

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)
11/24/2025

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
Class A common stock, par value $0.001 per share	11/24/2025		A		4,894(1)	A	$12.26	5,894	D
Class A common stock, par value $0.001 per share								1,000	I(2)	See footnote(2)

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. The Reporting Person was granted 4,894 shares of Class A common stock pursuant to the Boston Omaha Corporation 2022 Long-Term Incentive Plan for services as a member of the Board of Directors. The shares were issued later in the year than director option grants are typically issued and, as a result, the shares are fully vested.

2. The shares are held by Mr. Graff's spouse. Mr. Graff could be deemed to have indirect beneficial ownership of the shares.

	/s/ David Graff	11/26/2025
	** 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 Boston Omaha (BOC) director David Graff report in this Form 4?

David Graff reported receiving 4,894 shares of Boston Omaha Class A common stock on 11/24/2025 for his services as a member of the Board of Directors.

What plan governed the 4,894-share grant to the Boston Omaha (BOC) director?

The 4,894-share grant to David Graff was made under the Boston Omaha Corporation 2022 Long-Term Incentive Plan.

Are the newly granted Boston Omaha (BOC) shares to David Graff vested?

Yes. The filing states that the 4,894 shares were issued later in the year than typical director option grants and, as a result, are fully vested.

What price per share was reported for David Graff’s Boston Omaha (BOC) stock grant?

The Form 4 reports a price of $12.26 per share for the 4,894 Class A common shares granted to David Graff.

How many Boston Omaha (BOC) shares does David Graff own after this transaction?

After the transaction, David Graff directly owns 5,894 Class A shares and has an additional 1,000 shares held indirectly through his spouse.

How is the indirect ownership of Boston Omaha (BOC) shares by David Graff reported?

The filing notes that 1,000 shares are held by Mr. Graff’s spouse and that he could be deemed to have indirect beneficial ownership of those shares.