Genelux (GNLX) Form 4: Exec option prices reduced to $3.33 for 272,652 shares

Rhea-AI Filing Summary

Genelux Corporation insider filing reports that Yu Yong, SVP, Clinical Development and director, had multiple stock options repriced effective September 1, 2025. Two option grants were adjusted so the exercise price was reduced to $3.33 per share (from prior prices of $6.00 and $22.40). The filing shows a one-time reduction only; expiration dates and vesting schedules were unchanged. After the reported transactions, Mr. Yu beneficially owns 207,652 shares underlying one repriced option and 65,000 shares underlying another option, with both grants showing vested or scheduled vesting as described.

Positive

• Full disclosure of the repricing and the statement that expirations and vesting schedules remain unchanged
• One option grant is fully vested, limiting immediate uncertainty about acceleration or delayed vesting

Negative

• Exercise prices were reduced to $3.33 from higher strike prices, materially increasing potential insider gain
• Total affected options amount to 272,652 underlying shares (207,652 + 65,000), which could be dilutive if exercised
• No rationale or board/committee justification for the repricing is included in this Form 4

Insights

Financial Analyst

TL;DR: Option exercise prices were reduced to market level, increasing potential insider economic upside without changing vesting or expirations.

The filing documents an effective one-time repricing to $3.33 for two option grants totaling 272,652 underlying shares, aligning exercise price with the issuer's September 1, 2025 market price. This increases the intrinsic value of those awards for the reporting person and could affect potential dilution timing if exercised. No changes to expiration or vesting schedules were made; one grant is fully vested and the other vests over time, which limits immediate share issuance risk to the vested portion.

Corporate Governance Expert

TL;DR: Repricing insider options without changing vesting raises governance and shareholder-alignment concerns despite being disclosed.

The reported reduction of exercise prices from higher strike levels to the market price of $3.33 effectively grants additional economic benefit to an officer and director. While the filing states expirations and vesting remain unchanged, such adjustments can be material to shareholders because they enhance insider compensation value and may increase future dilution if exercised. Disclosure is present, but independent board rationale and shareholder approval (if required) are not included in this filing.

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^*

Yu Yong

(Last) (First) (Middle)

C/O GENELUX CORPORATION

2625 TOWNSGATE ROAD, SUITE 230

(Street)

WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GENELUX Corp [ GNLX ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, Clinical Development

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

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 Option (Right to Buy)	$6	09/01/2025		D			207,652	(1)	09/20/2029	Common stock	207,652	(2)	0	D
Stock Option (Right to Buy)	$3.33	09/01/2025		A		207,652		(1)	09/20/2029	Common stock	207,652	(2)	207,652	D
Stock Option (Right to Buy)	$22.4	09/01/2025		D			65,000	(3)	09/10/2033	Common stock	65,000	(2)	0	D
Stock Option (Right to Buy)	$3.33	09/01/2025		A		65,000		(3)	09/10/2033	Common stock	65,000	(2)	65,000	D

Explanation of Responses:

1. The shares subject to the option are fully vested.

2. The transactions reported herein reflect a one-time reduction of the exercise prices of these stock options, effective September 1, 2025, to an exercise price of $3.33 per share, the price of the Issuer's common stock on September 1, 2025. There is no change to the expiration dates or the vesting schedule of the stock options.

3. The shares subject to the option vest as follows: 25% on September 11, 2024, and the remaining shares vest in 36 equal monthly installments thereafter.

	/s/ Thomas Zindrick, J.D. Attorney-in-Fact	09/03/2025
	** 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 changes did Yu Yong report in the GNLX Form 4?

The filing reports a one-time reduction of option exercise prices effective 09/01/2025 to $3.33 per share for option grants covering 207,652 and 65,000 underlying shares.

How many total option shares were affected in the GNLX filing?

A total of 272,652 underlying shares were affected (207,652 + 65,000) by the reported repricing.

Did the repricing change vesting or expiration dates?

No. The filing states expiration dates and vesting schedules remain unchanged; only the exercise prices were reduced.

Is any portion of the repriced option fully vested?

Yes. The filing states that the shares subject to one of the options are fully vested, while the other vests 25% on September 11, 2024 and the remainder in 36 monthly installments.

When was the Form 4 signed and filed?

The Form shows the signature by attorney-in-fact Thomas Zindrick, J.D. on 09/03/2025 and lists the effective transaction date as 09/01/2025.