[Form 4] Guerrilla RF, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Guerrilla RF, Inc. director Gary L. Smith reported an option grant and his current holdings. He received a grant of 15,625 stock options for Common Stock at an exercise price of $3.05 per share, expiring on May 15, 2036. Following this grant, he holds 32,662 shares of Common Stock directly and option positions including 3,696 fully vested options with a $3.19 exercise price expiring on August 27, 2030.

Insights

Equity compensation analyst

Director received additional stock options as routine equity compensation.

Director Gary L. Smith received a grant of 15,625 stock options with a $3.05 exercise price, expiring on May 15, 2036. This is characterized as a grant or award, indicating compensation rather than an open-market transaction.

He now holds 32,662 common shares directly, plus option positions including 3,696 fully vested options at an exercise price of $3.19 expiring on August 27, 2030. The filing does not show any share sales or open-market purchases.

Because the activity is compensation-related and relatively modest in scale, it is generally viewed as routine for governance and does not by itself signal a change in the company’s outlook or fundamentals.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider SMITH GARY L /NC/

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option	15,625	$0.00	--
holding	Stock Option	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option — 15,625 shares (Direct, null); Common Stock — 32,662 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

New option grant: 15,625 stock options New option exercise price: $3.05 per share Director share holdings: 32,662 shares +3 more

6 metrics

New option grant 15,625 stock options Grant to director on May 15, 2026

New option exercise price $3.05 per share Exercise price for 15,625 options expiring May 15, 2036

Director share holdings 32,662 shares Common Stock held directly after reported transactions

Existing option underlying shares 3,696 shares Underlying Common Stock for existing option position

Existing option exercise price $3.19 per share Fully vested option exercise price, expiring August 27, 2030

New option expiration May 15, 2036 Expiration date of 15,625 granted options

Key Terms

Stock Option, exercise price, fully vested and exercisable, grant or award acquisition

4 terms

Stock Option financial

"The new grant covers 15,625 stock options with an exercise price"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

exercise price financial

"stock options with an exercise price of $3.05 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

fully vested and exercisable financial

"A footnote states these option shares are fully vested and exercisable"

grant or award acquisition financial

"The principal transaction is a grant or award acquisition of stock options"

Form 4 Insider Transactions: What Each Field Means →

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^*

SMITH GARY L /NC/

(Last) (First) (Middle)

5820 DEER MEADOW LN.

(Street)

SUMMERFIELD NORTH CAROLINA 27358

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Guerrilla RF, Inc. [ GUER ]

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)
05/15/2026

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								32,662	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	$3.19							(1)	08/27/2030	Common Stock	3,696		3,696	D
Stock Option	$3.05	05/15/2026		A		15,625		05/15/2026	05/15/2036	Common Stock	15,625	$0	15,625	D

Explanation of Responses:

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

	/s/ Iain MacSween, Attorney-in-Fact	05/19/2026
	** 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)