SABS insider: 2.4M stock options awarded, vesting through 2026+

Rhea-AI Filing Summary

Alexandra Kropotova, the Chief Medical Officer of SAB Biotherapeutics, Inc. (SABS), reported a grant of stock options on 08/26/2025. The filing shows an award of 2,400,000 options to purchase common stock at an exercise price of $2.17 per share, exercisable through 08/26/2035. The options vest over four years with 25% vesting on March 1, 2026 and the remaining 75% vesting monthly in 36 equal installments. The grant is subject to the company receiving shareholder approval to amend its 2021 Omnibus Equity Incentive Plan to increase the share reserve. The Form 4 was signed by Ms. Kropotova on 08/28/2025.

Positive

• Alignment with shareholders: Options vest over four years, linking executive incentives to long-term stock performance
• Retention-focused structure: 25% vests at a fixed date with remaining vesting monthly over three years, encouraging continued service

Negative

• Conditional grant: Awards are subject to shareholder approval to increase the Plan's share reserve, creating execution uncertainty
• Potential dilution: A grant of 2,400,000 options could dilute existing shareholders if issued (share count context not provided)

Insights

Compensation Analyst

TL;DR: A sizable 10-year option grant ties senior executive pay to long-term stock performance but depends on shareholder approval.

The award of 2,400,000 stock options at a $2.17 exercise price aligns the Chief Medical Officer's incentives with shareholder returns by vesting over four years and carrying a 10-year exercise window. The conditional nature of the grant—pending an increase to the plan's share reserve via shareholder approval—creates execution risk until shareholders act. For investors, the key implications are potential dilution if approved and an extended period during which the executive is economically motivated to increase equity value.

Corporate Governance Expert

TL;DR: Governance signal: typical retention-focused equity grant, but materiality hinges on shareholder approval and grant size relative to outstanding equity.

The Form 4 disclosure is transparent about vesting, exercise price, and the contingency on amending the 2021 Omnibus Equity Incentive Plan. The governance consideration centers on whether shareholders will approve the plan amendment; until then the grant cannot be issued. The filing documents standard multi-year vesting which supports retention, and the 10-year term is customary for option awards. Additional context about the company's share count would be needed to assess dilution magnitude, which is not provided 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
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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^*

Kropotova Alexandra

(Last) (First) (Middle)

777 W 41ST

SUITE 401

(Street)

MIAMI BEACH FL 33140

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SAB Biotherapeutics, Inc. [ SABS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF MEDICAL OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/26/2025

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)	$2.17	08/26/2025		A		2,400,000(1)(2)		(3)	08/26/2035	Common Stock	2,400,000	$0	2,400,000	D

Explanation of Responses:

1. Represents options to purchase shares of the Issuer's common stock par value $0.0001 per share ("Common Stock"), pursuant to the Issuer's 2021 Omnibus Equity Incentive Plan, as amended (the "Plan").

2. The awards are subject to the Company's receipt of stockholder approval to amend the Plan, to increase the number of shares of Common Stock available for issuance thereunder.

3. The shares of Common Stock underlying the option vest over a four-year period, vesting 1/4 on March 1, 2026, and the remaining 3/4 vesting pro rata on a monthly basis in 36 equal installments thereafter.

	/s/ Alexandra Kropotova	08/28/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What did SABS reporting person Alexandra Kropotova disclose on Form 4?

The Form 4 discloses a grant of 2,400,000 stock options at a $2.17 exercise price, dated 08/26/2025, with a 10-year term expiring 08/26/2035.

What is the vesting schedule for the options reported by SABS?

The options vest over four years: 25% vests on March 1, 2026 and the remaining 75% vests pro rata monthly in 36 equal installments thereafter.

Are there any conditions to the option grant disclosed in the Form 4?

Yes. The awards are subject to the company obtaining stockholder approval to amend the 2021 Omnibus Equity Incentive Plan to increase the number of shares available.

Who filed the Form 4 and when was it signed?

The Form 4 was filed by Alexandra Kropotova, identified as the Chief Medical Officer, and signed on 08/28/2025.

What is the exercise price and expiration date of the reported options?

The exercise (conversion) price is $2.17 per share and the options expire on 08/26/2035.