MOVE director receives 20,685 RSUs in lieu of fees

Rhea-AI Filing Summary

Movano Inc. director Ruben Caballero received a grant of 20,685 restricted stock units (RSUs) under the company Omnibus Incentive Plan in lieu of directors' fees for the period 10/01/2025 to 12/31/2025. The Form 4 reports the award was executed on 10/03/2025 and the RSUs carry a reported price of $0, indicating a fee-equivalent grant rather than a cash payment. Following this grant the filing shows 88,294 RSUs beneficially owned by the reporting person, with ownership reported as direct. The form was signed on 10/07/2025 by an attorney-in-fact on behalf of the reporting person.

Positive

• 20,685 RSUs granted aligns director compensation with shareholder value
• Grant paid in equity preserves company cash for operations
• 88,294 RSUs total beneficial ownership increases director stake in the company

Negative

• Filing does not disclose vesting schedule or settlement terms for the RSUs
• The award increases potential dilution but magnitude and timing are unspecified

Insights

Corporate Governance Analyst

Director took compensation in equity, aligning pay with shareholder interests.

Issuing 20,685 RSUs in lieu of cash directors' fees converts short-term compensation into equity ownership, which can strengthen alignment between the director's incentives and long-term shareholder value. The grant is recorded with a transaction date of 10/03/2025 and a reported price of $0, consistent with fee-in-kind awards.

The main dependency is the RSU vesting and any transfer restrictions not disclosed here; those terms determine the true alignment and potential share issuance timing. Investors should note the change in outstanding beneficial ownership to 88,294 RSUs and watch for future vesting disclosures or dilution events over the next 12 months.

Equity Compensation Specialist

A director compensation grant of RSUs was reported instead of cash payment for the quarter.

Granting RSUs for directors' fees is a common practice to conserve cash while providing value; the filing identifies the award period as 10/01/2025–12/31/2025. The Form 4 shows the award as an acquisition (Code A) of 20,685 RSUs, and the total beneficial ownership post-transaction is 88,294 RSUs.

Key items to confirm are vesting schedule and settlement method (shares vs. net-share settlement) which are not disclosed here; those terms affect dilution timing and reported ownership. Expect further detail in periodic filings or the company’s equity-plan disclosures within the next reporting cycle.

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^*

Caballero Ruben

(Last) (First) (Middle)

C/O MOVANO, INC.

6800 KOLL CENTER PARKWAY

(Street)

PLEASANTON CA 94566

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Movano Inc. [ MOVE ]

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)
10/03/2025

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
Common Stock	10/03/2025		A		20,685(1)	A	$0	88,294	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

Explanation of Responses:

1. The reported transaction involved the reporting person's receipt of a grant of 20,685 restricted stock units ("RSUs") under the Company's Omnibus Incentive Plan in lieu of directors' fees for the period October 1, 2025 to December 31, 2025. The total reported in Column 5 consists solely of RSUs.

	/s/ Ruben Caballero by Mark R. Busch, attorney-in-fact	10/07/2025
	** 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 Movano (MOVE) report on the Form 4 for Ruben Caballero?

The Form 4 reports a grant of 20,685 restricted stock units (RSUs) granted on 10/03/2025 in lieu of directors' fees for the period 10/01/2025 to 12/31/2025.

How many RSUs does Ruben Caballero own after the reported transaction?

The filing shows 88,294 RSUs beneficially owned by the reporting person following the transaction.

Was the RSU grant paid in cash or equity according to the Form 4?

The grant was issued as equity: the transaction is reported as an acquisition of RSUs with a reported price of $0, indicating an award in lieu of cash.

When was the transaction executed and when was the Form 4 signed?

The transaction date is 10/03/2025 and the Form 4 was signed on 10/07/2025.

Does the filing disclose the RSU vesting schedule?

No. The Form 4 does not disclose vesting schedule or settlement mechanics for the RSUs.