[Form 4] Outlook Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Outlook Therapeutics, Inc. (OTLK) director Yezan Munther Haddadin reported two option grants. On 10/01/2025 he was granted 286,734 stock options with a $1.04 exercise price that, per the issuer, "shall fully vest on October 1, 2026" subject to continuous service and acceleration on a Change in Control. On 10/03/2025 he received 95,969 options with a $1.06 exercise price granted in lieu of $90,000 in cash fees; these vest in four equal quarterly installments and become fully vested on September 30, 2026, subject to continuous service and similar Change in Control acceleration. Both option grants expire in 2035 and are reported as direct beneficial ownership. The Form 4 was signed by an attorney-in-fact on 10/03/2025.

Positive

• 286,734 options granted at a $1.04 strike, aligning director incentives with shareholders
• 95,969 options granted in lieu of $90,000 cash fees, conserving cash

Negative

• None.

Insights

Corporate Governance Analyst

Director received equity compensation in two option grants tied to service through late 2026.

These grants show the company is using equity-based pay for non-employee directors: 286,734 options at $1.04 and 95,969 options at $1.06. Vesting is conditioned on continuous service through Sept/Oct 2026 and includes acceleration on a Change in Control as described in the 2024 Plan.

Because the grants are reported as direct ownership and were executed under the issuer's stated policies, this is a routine director compensation disclosure rather than an unusual governance event.

Compensation Analyst

One grant replaces cash fees; both grants specify vesting schedules and 2035 expirations.

The 95,969 options were issued "in lieu of $90,000 cash fees" under the Non-Employee Director Compensation Policy, indicating substitution of equity for cash. Both option awards reference the 2024 Equity Incentive Plan and carry ten-year expirations in 2035.

This filing documents the mechanics and timelines of the awards without disclosing any exercised or sold securities.

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^*

Haddadin Yezan Munther

(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
Stock Option (Right to Buy)	$1.06	10/03/2025		A		95,969		(2)	10/03/2035	Common Stock	95,969	$0	95,969	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.

2. The options were granted under the 2024 Plan in lieu of $90,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date and 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 options did OTLK director Yezan Haddadin receive?

He received 286,734 options at a $1.04 exercise price on 10/01/2025 and 95,969 options at a $1.06 exercise price on 10/03/2025.

When do the new OTLK options vest and expire?

The 286,734 options fully vest on October 1, 2026; the 95,969 options vest quarterly and fully on September 30, 2026. Both options expire in 2035.

Were any options issued in lieu of cash to OTLK's director?

Yes. The 95,969 options were granted under the 2024 Plan in lieu of $90,000 cash fees per the Non-Employee Director Compensation Policy.

Are the reported holdings direct or indirect?

Both option grants are reported as Direct beneficial ownership in the Form 4.

Did the filing indicate any acceleration provisions?

Yes. Both grants are subject to acceleration of vesting upon a Change in Control as defined in the 2024 Plan, conditional on continuous service immediately prior to such event.