[Form 4] GT Biopharma Inc. Insider Trading Activity

Rhea-AI Filing Summary

Charles J. Casamento, a director of GT Biopharma, acquired derivative securities tied to the company's common stock on 09/04/2025. The filing reports an acquisition of 62,500 options to purchase common stock with an exercise price of $1.33. The options are reported as fully vested and exercisable and are recorded as direct beneficial ownership of 62,500 underlying shares following the transaction. No cash price for the underlying shares is reported in the filing and no other transactions or dispositions are included.

Positive

• Director acquired 62,500 options tied to common stock, indicating increased insider equity exposure
• Options are fully vested and exercisable, giving the reporting person immediate economic exposure

Negative

• None.

Insights

Financial Analyst

TL;DR: A director acquired 62,500 options at $1.33, signaling an insider increase in equity-linked exposure but not a stock sale.

The filing documents a non-derivative change in beneficial ownership via acquisition of derivative securities (options) that convert to 62,500 common shares. The exercise price of $1.33 is stated and the reporter holds the options directly. Because the options are fully vested and exercisable, the director has immediate economic exposure to future equity movements; however, the filing does not disclose any cash exercise or sale of underlying shares, nor the impact on total outstanding share count. Impact is informational for investors monitoring insider alignment.

Corporate Governance Expert

TL;DR: Director-level option acquisition increases insider stake and alignment, but filing provides limited context on grant origin or dilution.

The disclosure confirms direct ownership of 62,500 options reported by a director and notes they are fully vested and exercisable. From a governance perspective, vested option ownership by a director can align management and board incentives with shareholders. The filing lacks details on whether these options arose from a new grant, exercise, or conversion of previously issued awards, so material context about compensation treatment and potential dilution is missing from the document itself.

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^*

CASAMENTO CHARLES J

(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		62,500		(1)	08/19/2035	Common Stock	62,500	$0	62,500	D

Explanation of Responses:

1. The options are fully vested and exercisable.

	/s/ Charles J. Casamento	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 did GTBP director Charles J. Casamento report on Form 4?

The report discloses an acquisition of 62,500 options to purchase GT Biopharma common stock at an exercise price of $1.33 on 09/04/2025.

Are the options reported by the GTBP director exercisable?

Yes. The filing expressly states the options are fully vested and exercisable.

How many underlying shares does the reported transaction represent for GTBP?

The filing shows the derivative securities correspond to 62,500 underlying common shares following the reported transaction.

Did the director sell any GTBP shares in this Form 4?

No. The Form 4 reports an acquisition of derivative securities only; there are no dispositions or sales listed in the filing.

What is the exercise price for the options reported by the GTBP director?

The reported exercise (conversion) price is $1.33 per share.