Relmada Therapeutics (RLMD) awards 828,000 stock appreciation rights to COO

Rhea-AI Filing Summary

Relmada Therapeutics director and COO Paul Kelly reported receiving 828,000 stock appreciation rights tied to the company’s common stock. These rights were granted on December 12, 2025 with an exercise price of $4.06 and expire on December 12, 2035.

The stock appreciation rights vest in 16 equal quarterly installments starting March 12, 2026, so portions of the award become exercisable over time. After this grant, Kelly beneficially owns 828,000 derivative securities directly, linking part of his compensation to Relmada’s future share performance.

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

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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^*

Kelly Paul Edward

(Last) (First) (Middle)

C/O RELMADA THERAPEUTICS, INC.

2222 PONCE DE LEON BLVD, 3RD FLOOR

(Street)

CORAL GABLES FL 33134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RELMADA THERAPEUTICS, INC. [ RLMD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	COO

3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025

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 Appreciation Rights	$4.06	12/12/2025		A		828,000		03/12/2026(1)	12/12/2035	Common Stock	828,000	$0	828,000	D

Explanation of Responses:

1. The stock appreciation rights vest in 16 equal quarterly installments commencing on March 12, 2026.

	/s/ Paul Kelly	12/16/2025
	** 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 insider transaction did Relmada Therapeutics (RLMD) report for Paul Kelly?

Relmada Therapeutics reported that Paul Kelly, a director and COO, received 828,000 stock appreciation rights tied to the company’s common stock on December 12, 2025.

What are the key terms of Paul Kelly's stock appreciation rights at Relmada Therapeutics (RLMD)?

The stock appreciation rights have an exercise price of $4.06 per underlying share, were granted on December 12, 2025, and expire on December 12, 2035.

How do Paul Kelly’s Relmada Therapeutics (RLMD) stock appreciation rights vest?

According to the filing, the stock appreciation rights vest in 16 equal quarterly installments, commencing on March 12, 2026.

How many derivative securities does Paul Kelly beneficially own after this Relmada Therapeutics (RLMD) transaction?

Following the reported grant, Paul Kelly beneficially owns 828,000 derivative securities in the form of stock appreciation rights, held directly.

What is Paul Kelly’s relationship to Relmada Therapeutics (RLMD)?

The filing indicates that Paul Kelly is both a director and an officer of Relmada Therapeutics, serving as COO and reporting as a single reporting person on the form.