CTM director receives 100,000 stock options; expiry 11/10/2032

Rhea-AI Filing Summary

Castellum, Inc. (CTM) reported an insider equity award. Director Mark S. Alarie received a grant of 100,000 stock options on 11/11/2025 under the Second Amended 2021 Stock Incentive Plan. The options have an exercise price of $1.19 per share and an expiration date of 11/10/2032.

The award was granted as compensation for service on the Board and vests ratably over 20 months starting December 1, 2025. Following the transaction, Mr. Alarie beneficially owned 100,000 stock options, held directly. The option grant price was recorded at $0 as an award (no purchase cost at grant).

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Alarie Mark S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Options	100,000	$0.00	--

Holdings After Transaction: Stock Options — 100,000 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Alarie Mark S

(Last) (First) (Middle)

1934 OLD GALLOWS ROAD

SUITE 350

(Street)

VIENNA VA 22182

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Castellum, Inc. [ CTM ]

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)
11/11/2025

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
Stock Options	$1.19	11/11/2025		A		100,000		(1)	11/10/2032	Common Stock	100,000	$0	100,000	D

Explanation of Responses:

1. As compensation for his service as an independent member of the Board of Directors, Mr. Alarie received 100,000 stock options granted pursuant to the terms of the Castellum, Inc. Second Amended 2021 Stock Incentive Plan to purchase 100,000 shares of common stock which vest ratably over a period of twenty months commencing December 1, 2025.

Remarks:

	/s/ Mark S. Alarie	11/13/2025
	** 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 Castellum (CTM) disclose in this Form 4?

A director, Mark S. Alarie, was granted 100,000 stock options on 11/11/2025 as board compensation.

What is the exercise price and term of the CTM options granted?

The options have an exercise price of $1.19 per share and expire on 11/10/2032.

How do the CTM options vest for the director?

They vest ratably over 20 months beginning on December 1, 2025.

How many derivative securities does the director hold after the transaction?

Following the award, the director beneficially owned 100,000 stock options, held directly.

Was there any cash paid for the CTM option grant?

No. The filing lists the price of derivative security as $0, reflecting a compensation grant.

Under which plan were the options granted?

The grant was made under the Castellum, Inc. Second Amended 2021 Stock Incentive Plan.