OTLK director granted 286,734 options at $1.04, vesting 10/01/2026

Rhea-AI Filing Summary

Outlook Therapeutics director Julian S. Gangolli was granted a non‑employee director stock option on 10/01/2025 to buy 286,734 shares of common stock at an exercise price of $1.04 per share. The option is an annual grant under the company’s Non‑Employee Director Compensation Policy and the 2024 Equity Incentive Plan. The option shall fully vest on 10/01/2026 provided the director continues service through that date, and the underlying shares are subject to acceleration on a Change in Control if the director is in service immediately before such event. The filing was reported on Form 4 and signed by an attorney‑in‑fact on behalf of the reporting person.

Positive

• 286,734‑share option grant aligns director incentives with shareholder outcomes
• Grant is issued under the company’s Non‑Employee Director Compensation Policy and the 2024 Equity Incentive Plan, indicating established governance process
• Vesting schedule (10/01/2026) creates a clear service‑based retention mechanism

Negative

• None.

Insights

Corporate Governance Analyst

Director received annual option grant of 286,734 shares at $1.04, vesting in one year.

This is a routine non‑employee director compensation action under the issuer’s stated policy and the 2024 Equity Incentive Plan. The award vests on 10/01/2026 contingent on continued service, aligning director incentives with shareholder value over the next year.

The grant includes an acceleration provision upon a Change in Control, which is a common clause that can accelerate equity vesting if the company is acquired and the director remains in service immediately before the transaction.

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^*

Gangolli Julian S

(Last) (First) (Middle)

C/O OUTLOOK THERAPEUTICS, INC.

111 S. WOOD AVE, UNIT #100

(Street)

ISELIN NJ 08830

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Outlook Therapeutics, Inc. [ OTLK ]

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)
10/01/2025

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
Stock Option (Right to Buy)	$1.04	10/01/2025		A		286,734		(1)	10/01/2035	Common Stock	286,734	$0	286,734	D

Explanation of Responses:

1. This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

	/s/Lawrence A. Kenyon, Attorney-in-Fact	10/03/2025
	** 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 option was reported for Outlook Therapeutics (OTLK)?

A stock option to purchase 286,734 shares of common stock at an exercise price of $1.04 was reported.

When was the transaction date and who is the reporting person for OTLK?

The transaction date is 10/01/2025 and the reporting person is director Julian S. Gangolli.

When does the option vest and are there acceleration terms?

The option fully vests on 10/01/2026 subject to continuous service and includes acceleration upon a Change in Control if service is continuous immediately prior.

Under what plans or policies was the grant made?

The grant was made under the issuer’s Non‑Employee Director Compensation Policy and the 2024 Equity Incentive Plan.

How was the Form 4 signed and filed?

The Form 4 was signed on behalf of the reporting person by an attorney‑in‑fact (Lawrence A. Kenyon) on 10/03/2025.