Delcath Systems director sells 22,500 shares

Available on EDGAR 11/13/2026 - 04:10 PM EST Accepted by SEC EDGAR 11/13/2026 - 04:10 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Delcath Systems, Inc. (DCTH) director Bridget A. Martell exercised options for 22,500 common shares on November 12, 2026, at $7.85 per share, and sold 20,570 shares at a weighted average of $21.66 and 1,930 shares at a weighted average of $22.26. The first sale block involved multiple transactions at $21.20 to $22.19 per share; the second ranged from $22.20 to $22.46.

The option terms provide for vesting at one-twelfth per month beginning May 23, 2024, while she remains a director. Options expire earlier of 10 years from the grant date or, for vested options, two years from the last day of service. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and Sale: 22,500 shares ($312K approx. pre-tax spread)

Exercise and Sale 4 txns

Insider Martell Bridget A

Role Director

Sold 22,500 shs ($489K)

Approx. gross sale proceeds $489K

Approx. exercise cost $177K

Approx. pre-tax spread $312K

Share of Position Sold 100%

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy) F3	22,500	$0.00	$0.00
Exercise	Common Stock	22,500	$7.85	$177K
Sale	Common Stock F1	20,570	$21.66	$446K
Sale	Common Stock F2	1,930	$22.26	$43K

Holdings After Transaction: Stock Option (right to buy) — 0 options (Direct); Common Stock — 0 shares (Direct)

Holdings Before and After: Stock Option (right to buy), 22,500 to 0 options (Direct); Common Stock, 0 to 0 shares (Direct)

Footnotes (3)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.20 to $22.19 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
2. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.20 to $22.46 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. F3. The option will vest and become exercisable at the rate of one-twelfth (1/12th) per month with the first such vesting to occur on May 23, 2024 and monthly thereafter for so long as the reporting person remains a director of Delcath Systems, Inc. (and subject to the terms and conditions of the Delcath Systems, Inc. 2020 Omnibus Equity Incentive Plan, as amended). The option will expire the earlier of 10 years from the grant date or, for vested options, two years from the last day of service.

Key Figures

Options exercised: 22,500 shares Exercise price: $7.85 per share First sale block: 20,570 shares +3 more

6 metrics

Options exercised 22,500 shares November 12, 2026

Exercise price $7.85 per share Options exercised November 12, 2026

First sale block 20,570 shares November 12, 2026

Weighted average sale price $21.66 per share 20,570 shares sold November 12, 2026

Second sale block 1,930 shares November 12, 2026

Weighted average sale price $22.26 per share 1,930 shares sold November 12, 2026

Key Terms

weighted average price, vest and become exercisable, 2020 Omnibus Equity Incentive Plan

3 terms

weighted average price financial

"the weighted average price for shares sold in multiple transactions"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

vest and become exercisable financial

"the option will vest and become exercisable at one-twelfth per month"

2020 Omnibus Equity Incentive Plan financial

"subject to the terms and conditions of the 2020 Omnibus Equity Incentive Plan"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many DCTH shares did Bridget A. Martell sell on November 12, 2026, and at what prices?

Bridget A. Martell sold 22,500 DCTH shares on November 12, 2026, in two blocks: 20,570 shares at a weighted average of $21.66 (transactions from $21.20 to $22.19) and 1,930 shares at a weighted average of $22.26 (transactions from $22.20 to $22.46).

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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^*

Martell Bridget A

(Last) (First) (Middle)

C/O DELCATH SYSTEMS, INC.

566 QUEENSBURY AVENUE

(Street)

QUEENSBURY NEW YORK 12804

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DELCATH SYSTEMS, INC. [ DCTH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/12/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	11/12/2026		M		22,500	A	$7.85	22,500	D
Common Stock	11/12/2026		S		20,570	D	$21.66(1)	1,930	D
Common Stock	11/12/2026		S		1,930	D	$22.26(2)	0	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
Stock Option (right to buy)	$7.85	11/12/2026		M			22,500	(3)	(3)	Common Stock	22,500	$0	0	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.20 to $22.19 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.20 to $22.46 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The option will vest and become exercisable at the rate of one-twelfth (1/12th) per month with the first such vesting to occur on May 23, 2024 and monthly thereafter for so long as the reporting person remains a director of Delcath Systems, Inc. (and subject to the terms and conditions of the Delcath Systems, Inc. 2020 Omnibus Equity Incentive Plan, as amended). The option will expire the earlier of 10 years from the grant date or, for vested options, two years from the last day of service.

	/s/ David Hoffman, Attorney-in-Fact	11/13/2026
	** 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.
* Form 4: SEC 1474 (03-26)