Director granted 17,000 stock options at BioXcel Therapeutics (BTAI)

Rhea-AI Filing Summary

BioXcel Therapeutics, Inc. granted director Peter Mueller a new stock option award. On 01/09/2026, he received an option to buy 17,000 shares of BioXcel common stock at an exercise price of $2.01 per share, expiring on 01/09/2036. The option was granted at a price of $0 for the derivative itself and is held directly by Mueller.

The option will vest and become exercisable on the earlier of the first anniversary of the grant date or the day immediately before the next annual meeting of stockholders after the grant date, as long as Mueller continues to serve as a non-employee director through that vesting date. Following this grant, he beneficially owns 17,000 stock options.

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^*

MUELLER PETER

(Last) (First) (Middle)

C/O BIOXCEL THERAPEUTICS, INC.

555 LONG WHARF DRIVE, 12TH FLOOR

(Street)

NEW HAVEN CT 06511

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BioXcel Therapeutics, Inc. [ BTAI ]

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)
01/09/2026

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
Stock Option (Right to Buy)	$2.01	01/09/2026		A		17,000		(1)	01/09/2036	Common Stock	17,000	$0	17,000	D

Explanation of Responses:

1. The option shall vest and become exercisable on the earlier of the first anniversary of the date of grant or the day immediately prior to the date of the next annual meeting of the Issuer's stockholders occurring after the date of grant, in either case, subject to the Reporting Person's continuing in service as a non-employee director through such vesting date.

	/s/ Richard Steinhart, Attorney-in-Fact for Peter Mueller	01/12/2026
	** 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 insider transaction did BioXcel Therapeutics (BTAI) report for Peter Mueller?

BioXcel Therapeutics reported that director Peter Mueller was granted a stock option on 01/09/2026 to purchase 17,000 shares of the company’s common stock.

What are the key terms of Peter Mueller's 17,000 BioXcel stock options?

The stock option gives Peter Mueller the right to buy 17,000 shares of BioXcel common stock at an exercise price of $2.01 per share, with an expiration date of 01/09/2036. The option was granted for $0 as a derivative security grant.

How and when do Peter Mueller’s BioXcel (BTAI) options vest?

The option vests on the earlier of the first anniversary of the 01/09/2026 grant date or the day immediately prior to the next annual meeting of BioXcel stockholders after the grant date, provided Mueller continues as a non-employee director through that vesting date.

How many BioXcel derivative securities does Peter Mueller own after this Form 4?

After the reported transaction, Peter Mueller beneficially owns 17,000 derivative securities in the form of stock options for BioXcel common stock.

Is Peter Mueller’s ownership in BioXcel reported as direct or indirect?

The Form 4 indicates that Peter Mueller’s beneficial ownership of the 17,000 stock options is held on a direct (D) basis, with no indirect ownership entity listed.

What is Peter Mueller’s role at BioXcel Therapeutics (BTAI)?

The filing identifies Peter Mueller as a director of BioXcel Therapeutics, Inc. and not as an officer or a 10% owner.