RZLT Form 4: CCO Receives 25,000 RSUs and 275,000 Options to 2035

Rhea-AI Filing Summary

Rezolute, Inc. (RZLT) Form 4 shows the company granted equity to its Chief Commercial Officer, Sunil Ratilal Karnawat. On 08/18/2025 Karnawat was awarded 25,000 restricted stock units that vest in four equal annual installments beginning 09/01/2026. The filing also reports an employee stock option grant to purchase 275,000 common shares at an exercise price of $6.55 per share, exercisable under a vesting schedule beginning one year after grant and completing monthly thereafter, with an expiration on 08/18/2035. Following the reported transactions, Karnawat directly beneficially owns 27,442 common shares and indirectly holds 8,000 shares in an IRA and 1,898 shares in an HSA. The Form 4 was signed by Karnawat on 08/27/2025.

Positive

• 25,000 RSUs granted with clear four-year vesting (1/4 each year starting 09/01/2026)
• 275,000 stock options granted at a defined exercise price of $6.55 with a 10-year term to 08/18/2035, providing long-term incentive alignment
• Detailed vesting schedule disclosed, improving transparency about when equity becomes exercisable or transferable

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider received RSUs and a large option grant, aligning pay with long-term share performance.

The filing documents a non-cash compensation event: 25,000 RSUs with four-year annual vesting and 275,000 options at $6.55 strike expiring in 2035. For analysts this increases potential future share-based compensation expense and long-term upside for the executive if performance/tenure conditions are met. The option size (275k) relative to the executive's current direct shareholding (27,442) is notable; modeling should reflect potential dilution and exercise timing when projecting share count and EPS over the option life.

Corporate Governance Expert

TL;DR: Grant follows typical executive equity practices with multi-year vesting to retain executive.

The documented vesting schedules—annual for RSUs and one-year cliff followed by monthly vesting for options—are conventional structures intended to tie compensation to continued service. The Form 4 clearly states vesting dates and exercise mechanics, supporting transparency. No board approvals, performance conditions beyond time-based vesting, or departures are disclosed in the 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

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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^*

Karnawat Sunil Ratilal

(Last) (First) (Middle)

C/O REZOLUTE, INC.

275 SHORELINE DRIVE, SUITE 500

(Street)

REDWOOD CITY CA 94065

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Rezolute, Inc. [ RZLT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/18/2025

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 Shares	08/18/2025		A		25,000(1)	A	$0	27,442	D
Common Shares								8,000	I	Held in Imdividual Retirement Account
Common Shares								1,898	I	Held in Heath Savings Account

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
Employee Stock Option (Right to Buy)	$6.55	08/18/2025		A		275,000		(2)	08/18/2035	Common Shares	275,000	$0	275,000	D

Explanation of Responses:

1. Represents grant of restricted stock units which vest as follows: 1/4 on September 1, 2026; 1/4 on September 1, 2027; 1/4 on September 1, 2028; and 1/4 on September 1, 2029.

2. The options shall vest and become exercisable as follows: One fourth (1/4) of such Options shall vest on the one-year anniversary of the grant date and one thirty-sixth (1/36) of the remaining Options shall vest on the same day of each month thereafter until the Option is 100% vested. The unvested portion of the Option will not be exercisable on or after the Reporting Person's termination of continuous service.

	/s/ Sunil Patilal Karnawat	08/27/2025
	** 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.
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FAQ

What equity did Rezolute insider Sunil Karnawat receive on 08/18/2025 (RZLT)?

He was granted 25,000 restricted stock units and an option to buy 275,000 shares at $6.55 per share.

When do the 25,000 RSUs granted to Karnawat vest?

They vest in four equal installments: 1/4 on 09/01/2026, 1/4 on 09/01/2027, 1/4 on 09/01/2028, and 1/4 on 09/01/2029.

What is the vesting schedule and expiration for the 275,000 options?

One-fourth vests on the one-year anniversary of the grant, then 1/36 of the remainder vests monthly until fully vested; options expire on 08/18/2035.

How many shares does Karnawat beneficially own after the reported transactions?

The Form 4 reports 27,442 direct common shares, plus 8,000 held in an IRA and 1,898 held in an HSA.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by Sunil Patilal Karnawat on 08/27/2025.