GT Biopharma (NASDAQ: GTBP) renews CEO Michael Breen’s employment term

Rhea-AI Filing Summary

GT Biopharma, Inc. reported that it entered into Amendment No. 3 to the employment agreement with Michael Breen, the company’s Executive Chairman and Chief Executive Officer. The amendment is effective as of April 29, 2025 and renews Mr. Breen’s position as Chief Executive Officer for a two-year term starting from that date.

After this two-year period, Mr. Breen’s employment will automatically renew for additional two-year terms unless either GT Biopharma or Mr. Breen provides at least ninety days’ written notice that they do not wish to renew. The company filed the full text of Amendment No. 3 as an exhibit to this report for further details.

8-K Event Classification

2 items: 5.02, 9.01

2 items

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report: August 26, 2025

(Date of earliest event reported)

GT Biopharma, Inc.

(Exact name of registrant as specified in its charter)

Delaware

(State or other Jurisdiction

of Incorporation)

1-40023		94-1620407
(Commission File Number)		(IRS Employer Identification No.)

N/A¹

(Address of Principal Executive Offices and zip code)

(415) 919-4040

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each Class		Trading Symbol(s)		Name of each Exchange on which registered
Common stock, $0.001 par value		GTBP		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

¹ Effective as of July 1, 2024, the Company became a fully remote company. We do not maintain a principal executive office. For purposes of compliance with applicable requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, any stockholder communication required to be sent to the Company’s principal executive offices may be directed to 505 Montgomery Street, 10th Floor, San Francisco, California 94111, or by email to auditcommittee@gtbiopharma.com.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Amendment No. 3 to the Employment Agreement with Michael Breen

On August 26, 2025, GT Biopharma, Inc. (the “Company”) entered into Amendment No. 3 (“Amendment No. 3”), effective as of April 29, 2025 (the “Effective Date”), to that certain employment agreement, dated as of November 8, 2021 (as previously amended, the “Employment Agreement”), by and between the Company and Michael Breen, the Company’s Executive Chairman and Chief Executive Officer. Pursuant to Amendment No. 3, the Board of Directors of the Company renewed Mr. Breen’s position as Chief Executive Officer for a period of two years from the Effective Date. Upon expiration of the term, Mr. Breen’s employment shall automatically renew for additional two-year periods unless either party gives at least ninety days’ written notice of non-renewal.

The foregoing description of Amendment No. 3 does not purport to be complete and is qualified in its entirety by reference to Amendment No. 3, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
10.1		Amendment No. 3 to the Employment Agreement, dated August 26, 2025, by and between GT Biopharma, Inc. and Michael Breen
104		Cover Page Interactive Data File, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	GT BIOPHARMA, INC.
Date: August 29, 2025	By:	/s/ Alan Urban
		Alan Urban
		Chief Financial Officer

FAQ

What did GT Biopharma (GTBP) disclose in this Form 8-K?

GT Biopharma disclosed that it entered into Amendment No. 3 to the employment agreement with its Executive Chairman and Chief Executive Officer, Michael Breen, renewing his role as Chief Executive Officer for a new term and setting automatic renewal provisions.

How long is Michael Breen’s renewed CEO term at GT Biopharma (GTBP)?

Under Amendment No. 3, Michael Breen’s position as Chief Executive Officer is renewed for a two-year period effective as of April 29, 2025, with the possibility of additional automatic two-year renewals.

What are the renewal conditions for Michael Breen’s employment with GT Biopharma (GTBP)?

When the two-year term ends, Michael Breen’s employment as Chief Executive Officer will automatically renew for additional two-year periods unless either party provides at least ninety days’ written notice of non-renewal.

Where can investors find the full details of Amendment No. 3 at GT Biopharma (GTBP)?

The complete text of Amendment No. 3 to Michael Breen’s employment agreement is filed as Exhibit 10.1 to this report and is incorporated by reference.

Did GT Biopharma (GTBP) report any financial results in this Form 8-K?

This Form 8-K focuses on the amended employment agreement with Chief Executive Officer Michael Breen and does not present earnings data or detailed financial results.

Who signed the GT Biopharma (GTBP) Form 8-K related to the CEO employment amendment?

The report was signed on behalf of GT Biopharma, Inc. by Alan Urban, the company’s Chief Financial Officer.