[Form 4] PLUS THERAPEUTICS, Inc. Insider Trading Activity

Rhea-AI Filing Summary

PLUS THERAPEUTICS (PSTV) director Robert P. Lenk reported a purchase of 110,000 shares of common stock on 08/22/2025 at a price of $0.4889 per share. After the transaction he beneficially owns 139,327 shares directly. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person and documents a routine insider open-market purchase.

Positive

• Director purchase of 110,000 shares at $0.4889 shows insider buying and increased direct ownership to 139,327 shares
• Transaction disclosed on Form 4, indicating compliance with Section 16 reporting requirements

Negative

• None.

Insights

Financial Analyst

TL;DR: A director bought 110,000 shares at $0.4889; this is a modest insider purchase that slightly increases insider alignment with shareholders.

The purchase represents an incremental insider stake rather than a transformative capital event. At the reported price, the acquisition cost is approximately $53,779, indicating limited balance-sheet impact but a signal that a director chose to acquire shares on the open market. For investors, this is a governance/alignment datapoint rather than a material financial development.

Corporate Governance Expert

TL;DR: Director-level open-market purchase filed on Form 4 follows standard disclosure procedures and shows direct ownership increase.

The filing is complete for the disclosed non-derivative transaction and appropriately lists direct beneficial ownership post-transaction. There are no amendments or atypical disclosure flags. From a governance perspective, the transaction is routine and consistent with director stock ownership activity used to align interests with shareholders.

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^*

Lenk Robert P

(Last) (First) (Middle)

C/O PLUS THERAPEUTICS INC.

4200 MARATHON BOULEVARD, SUITE 200

(Street)

AUSTIN TX 78756

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PLUS THERAPEUTICS, INC. [ PSTV ]

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)
08/22/2025

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	08/22/2025		P		110,000	A	$0.4889	139,327	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:

	/s/ Andrew Sims, attorney-in-fact	08/25/2025
	** 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 PLUS THERAPEUTICS (PSTV) director Robert P. Lenk report on Form 4?

He reported an open-market purchase of 110,000 shares of common stock on 08/22/2025 at $0.4889 per share, resulting in 139,327 shares beneficially owned directly.

When was the PSTV Form 4 transaction executed and filed?

The transaction date is 08/22/2025 and the Form 4 filing is dated and signed on 08/25/2025 by an attorney-in-fact.

Does the Form 4 show derivative transactions or only common stock?

The filing only reports a non-derivative common stock acquisition; no derivative securities were listed in Table II.

How much did the insider pay for the reported PSTV shares?

The reported purchase price was $0.4889 per share, implying an approximate total cost of $53,779 for 110,000 shares.

Does this Form 4 indicate a change in the reporting person's role at PSTV?

No role change is indicated; the form identifies Robert P. Lenk as a Director and shows an individual filing for one reporting person.