[Form 4] GT Biopharma Inc. Insider Trading Activity

Rhea-AI Filing Summary

GT Biopharma director David C. Mun-Gavin acquired 31,250 shares of common stock by exercising options with a $1.33 exercise price. The reported transaction lists an acquisition of 31,250 option shares that convert to 31,250 common shares, and the filer notes the options are fully vested and exercisable.

The ownership after the reported transaction is 31,250 shares held directly. The filing is a standard Section 16 disclosure by an insider documenting option exercise and resulting beneficial ownership.

Positive

• Director exercised vested options, converting 31,250 options into 31,250 directly owned common shares
• Disclosure is complete regarding the nature of the transaction and vesting status, satisfying Section 16 reporting requirements

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Insider exercised vested options to acquire 31,250 shares; routine disclosure of director activity with no governance red flags.

The Form 4 documents a straightforward exercise by a director of vested stock options into 31,250 common shares. The filer explicitly states the options are "fully vested and exercisable," indicating no vesting contingencies remain. This is a routine Section 16 disclosure that increases the director's direct beneficial ownership and aligns personal and shareholder interests. There is no indication of related-party transactions, unusual transfer restrictions, or changes to governance structure in the filing.

Securities Analyst

TL;DR: Director acquired 31,250 shares via option exercise at $1.33; the transaction increases insider share count but appears immaterial to public float.

The filing reports acquisition code "A" for an option to purchase common stock with a $1.33 exercise price for 31,250 options, resulting in 31,250 shares directly beneficially owned. The disclosure contains no additional transfers, sales, or derivative holdings. Absent information on total outstanding shares or prior insider holdings in this filing, the materiality of 31,250 shares to market capitalization cannot be assessed from this document alone. The entry is consistent with routine option exercises by insiders.

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
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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^*

Mun-Gavin David C.

(Last) (First) (Middle)

C/O GT BIOPHARMA, INC.

505 MONTGOMERY STREET, 10TH FLOOR

(Street)

SAN FRANCISCO CA 94111

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GT Biopharma, Inc. [ GTBP ]

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)
09/04/2025

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
Option to purchase Common Stock	$1.33	09/04/2025		A		31,250		(1)	08/19/2035	Common Stock	31,250	$0	31,250	D

Explanation of Responses:

1. The options are fully vested and exercisable.

	/s/ David C. Mun-Gavin	09/08/2025
	** 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 transaction did GTBP director David C. Mun-Gavin report on the Form 4?

The director reported an acquisition by exercising options to purchase 31,250 shares of common stock.

What was the exercise price per share for the options exercised by the GTBP director?

The reported conversion lists an exercise price of $1.33 per option.

How many shares does David C. Mun-Gavin beneficially own after the reported transaction?

The filing shows 31,250 shares beneficially owned directly following the transaction.

Are the options that were exercised subject to further vesting conditions?

No; the filing explicitly states the options are fully vested and exercisable.

Does the Form 4 show any sales or dispositions by the reporting person?

No; the Form 4 reports an acquisition only and no dispositions are listed.