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Pasithea Therapeutics (KTTA) filed a Form 4 reporting a director stock option grant. On 10/24/2025, the director received an option to purchase 42,913 shares of common stock at an exercise price of $0.715 per share under the company’s 2023 Stock Incentive Plan. The option expires on 10/23/2035 and will vest in full on the one-year anniversary of the grant date, provided the director remains on the board through that date; the award will fully vest upon a Change in Control as defined in the plan.
Pasithea Therapeutics (KTTA) updated executive and director compensation. The Board raised the CEO’s base salary to $533,000 and set his target bonus at 55% of base pay. The CFO’s base salary increased to $391,000 with a 40% target bonus. These cash changes are retroactive to January 1, 2025.
Equity awards were granted at an exercise price of $0.715 per share as of October 24, 2025: the CEO received options for 493,341 shares, the CFO 317,266 shares, and certain employees an aggregate of 352,266 shares. Each vests 33% on the one‑year anniversary, then quarterly over the next two years, and fully upon a Change in Control.
Director pay was adjusted to conserve cash: the Audit Chair retainer increased by $5,000 to $15,000, while the Board Chair’s annual cash compensation was reduced from $100,000 to $35,000 effective October 1, 2025. Each non‑employee director received options for 42,913 shares at $0.715, vesting in full after one year, with Change in Control acceleration. Prof. Steinman’s consulting payments were reduced from $25,000 per quarter to $1.00 per quarter effective October 1, 2025, and he received a one‑time option for 200,000 shares at $0.715, vesting after one year.
Pasithea Therapeutics Corp. reported progress in its Phase 1/1b study of PAS-004 in adult patients with neurofibromatosis type 1 (NF1)-associated plexiform neurofibromas. The company has activated two clinical trial sites in South Korea, Asan Medical Centre and Severance Hospital Yonsei University Health System, which are now recruiting, and the first South Korean patient has been dosed.
Globally, the NF1 trial has moved from Cohort 1, a 4mg tablet dose, to enrolling patients in Cohort 2 at an 8mg tablet dose after an external Safety Review Committee recommended proceeding without modification. Initial interim clinical data from the first two cohorts are expected in the first quarter of 2026, which will begin to show how PAS-004 is performing on safety, tolerability, pharmacokinetics and pharmacodynamics in this NF1 population.