RVP insider trade: Shaw increases holdings; Rule 10b5-1 plan noted

Rhea-AI Filing Summary

Thomas J. Shaw, President & CEO, director and 10% owner of Retractable Technologies, reported a purchase of 17,500 shares of the company on 09/24/2025 at a weighted-average price of $0.802 under a Rule 10b5-1 plan adopted on 08/22/2024. After the transaction he beneficially owns 15,673,825 shares directly and 831,600 shares indirectly.

The filing notes Mr. Shaw holds investment power over 500,000 shares as trustee for a family member and retains voting control over the remaining indirectly held shares pursuant to a voting agreement. The Form 4 was signed by an attorney-in-fact on 09/25/2025.

Positive

• Insider purchase executed: 17,500 shares acquired on 09/24/2025 at a weighted-average price of $0.802
• Use of Rule 10b5-1 plan: Plan adopted on 08/22/2024 provides pre-arranged trading clarity
• High insider ownership: Reporting person retains 15,673,825 shares directly, indicating alignment with shareholders

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider executed a small Rule 10b5-1 purchase; ownership remains concentrated with CEO who retains voting control.

The 17,500-share purchase at a weighted-average price of $0.802 is a modest buy relative to Mr. Shaw's total direct holdings of 15.67 million shares, indicating limited economic impact on his ownership stake. The presence of a Rule 10b5-1 plan clarifies the trade was pre-planned, reducing concerns about opportunistic timing. Disclosure that 500,000 shares are held in a trust and the remainder are subject to a voting agreement is material for governance and control analysis, as it confirms concentrated insider voting authority.

Corporate Governance Expert

TL;DR: CEO remains a dominant shareholder with voting arrangements; the filing confirms control structures but shows only a small open-market purchase.

The Form 4 documents continued concentrated insider ownership: 15.67 million shares directly and 831,600 indirectly, with investment power over 500,000 held in trust and voting control by agreement. Those facts are relevant for minority shareholders assessing control dynamics. The Rule 10b5-1 plan adoption date provides procedural transparency for the trade. No leadership change or other governance events are disclosed in this filing.

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).

1. Name and Address of Reporting Person^*

SHAW THOMAS J

(Last) (First) (Middle)

511 LOBO LANE

(Street)

LITTLE ELM TX 75068

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
RETRACTABLE TECHNOLOGIES INC [ RVP ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT AND CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/24/2025

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	09/24/2025		P		17,500	A	$0.802(1)	15,673,825	D
Common Stock								831,600	I	Voting or Investment Control(2)

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. Represents weighted average price.

2. Mr. Shaw has investment power over 500,000 shares as Trustee for the benefit of a family member. Mr. Shaw has voting control over the remainder of the shares pursuant to a voting agreement.

Remarks:

The Rule 10b5-1 Plan's date of adoption was August 22, 2024.

	/s/ D. Valerie Thomas, Attorney-in-Fact	09/25/2025
	** 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 transaction did Thomas J. Shaw report on Form 4 for RVP?

The filing reports a purchase of 17,500 shares on 09/24/2025 at a weighted-average price of $0.802.

How many RVP shares does Thomas J. Shaw beneficially own after this filing?

He beneficially owns 15,673,825 shares directly and 831,600 shares indirectly following the reported transaction.

Was the trade part of a Rule 10b5-1 plan?

Yes. The Form 4 states the Rule 10b5-1 plan was adopted on 08/22/2024.

Does Mr. Shaw have shares held in trust or special voting arrangements?

Yes. He has investment power over 500,000 shares as trustee for a family member and voting control over the remainder pursuant to a voting agreement.

When was the Form 4 signed and by whom?

The form was signed on 09/25/2025 by D. Valerie Thomas, Attorney-in-Fact for Mr. Shaw.