[Form 4] Cel-Sci Corporation Insider Trading Activity

Rhea-AI Filing Summary

CEL-SCI Corp (CVM) – Form 4 insider transaction

Director Robert E. Watson bought 2,919 restricted shares of CEL-SCI on 25-Jul-2025 at $6.85 (prior day’s close), a cash outlay of roughly $20k. Following the purchase, Watson’s direct holdings increased to 3,733 shares. No derivative securities were involved and the filing shows the transaction was made directly with the company, suggesting an equity-based compensation or voluntary open-market style purchase rather than option exercise or planned sale. The filing does not reference any concurrent sales, options, or changes in indirect ownership.

The transaction is modest relative to CEL-SCI’s market capitalization and daily trading volume, but insider buying—especially by a board member—can signal personal confidence in the company’s prospects and may be viewed positively by investors monitoring governance alignment.

Positive

• Director insider purchase adds 2,919 shares, implying personal confidence and better shareholder alignment.

Negative

• None.

Insights

Securities Analyst

TL;DR: Small insider buy signals confidence but is immaterial to valuation.

Watson’s ~$20k purchase lifts his stake to 3.7k shares—still a de-minimis holding. Insider buying generally aligns management with shareholders and can be a mild bullish indicator, yet the size (<0.01% of shares outstanding) limits impact. No option activity or simultaneous sales reduce risk of mixed signaling. I view the filing as not impactful for fundamental analysis, but it may marginally improve sentiment among retail investors following insider trends.

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).

1. Name and Address of Reporting Person^*

Watson Robert Eugene

(Last) (First) (Middle)

245 N. HIGHLAND AVE NE

SUITE 230-296

(Street)

ATLANTA GA 30307

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CEL SCI CORP [ CVM ]

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)
07/25/2025

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	07/25/2025		P		2,919(1)	A	$6.85	3,733	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. On July 25, 2025, Mr. Watson purchased 2,919 shares of restricted stock directly from the Company at the closing price on July 24, 2025, the most recent closing price available.

	Robert Watson	07/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many CEL-SCI (CVM) shares did Director Robert Watson buy?

He acquired 2,919 restricted shares on 25-Jul-2025.

At what price were the CVM shares purchased?

The purchase price was the 24-Jul-2025 closing price of $6.85 per share.

What is Robert Watson's total direct ownership after the transaction?

His direct holdings increased to 3,733 CVM shares.

Does the filing report any insider sales or option exercises?

No. The Form 4 lists only a cash purchase; no sales or derivative activity were disclosed.

Is the insider purchase material to CEL-SCI’s valuation?

Given the small dollar amount (~$20k), analysts deem it not materially impactful to valuation.