SMTK Form 4: Klaas de Boer Receives 22,466 Stock Options

Rhea-AI Filing Summary

SmartKem, Inc. director Klaas de Boer was granted a stock option on 09/03/2025 for 22,466 shares with an exercise price of $1.16. The option vests 25% on the grant date with the remaining shares vesting in equal monthly installments over 36 months commencing on 09/03/2025. The option appears to expire on 09/03/2035. The Form 4 was filed by an attorney-in-fact, Ian Jenks, on 09/05/2025. The reporting person is identified as a director and the filing is made by one reporting person.

Positive

• Timely disclosure of the option grant through Form 4 filed on 09/05/2025
• Vesting structure includes immediate 25% vesting, providing partial alignment with shareholder interests

Negative

• Potential dilution from 22,466 shares if options are exercised
• Materiality unclear because total outstanding share count and aggregate awards are not provided in this filing

Insights

Corporate Governance Expert

TL;DR: Routine equity compensation granted to a director with standard multi-year vesting; disclosure aligns with Section 16 reporting.

The grant documents a common practice of awarding stock options to align management and director incentives with shareholder interests. The 25% immediate vesting followed by monthly vesting over 36 months is a typical schedule that accelerates partial ownership but preserves multi-year retention. The filing was executed by an attorney-in-fact and properly reported on Form 4 within two days of the grant, indicating timely compliance with insider reporting rules.

Securities Analyst

TL;DR: Option grant is a non-cash compensation event; impact on share count is likely modest but depends on total outstanding shares.

The report shows acquisition of 22,466 option shares at a $1.16 exercise price, exercisable as they vest and expiring in 2035. This is a compensatory derivative award (transaction code A). Without information on total shares outstanding or other recent grants, the materiality to existing shareholders cannot be determined from this Form 4 alone. Disclosure is specific and complete on grant terms and vesting timetable.

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^*

de Boer Klaas

(Last) (First) (Middle)

C/O SMARTKEM, MANCHESTER TECHNOLOGY CTR

HEXAGON TOWER DELAUNAYS ROAD, BLACKLEY

(Street)

MANCHESTER X0 M9 8GQ

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SmartKem, Inc. [ SMTK ]

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)
09/03/2025

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)	$1.16	09/03/2025		A		22,466		(1)	09/03/2035	Common Stock	22,466	$0	22,466	D

Explanation of Responses:

1. The option vests as follows: 25% on the date of grant with the remaining shares to vest in equal monthly installments over a period of 36 months commencing on September 3, 2025 and on the 3rd date of each month thereafter.

	/s/ Ian Jenks, attorney-in-fact for Klaas de Boer	09/05/2025
	** 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

Who filed the Form 4 for SmartKem (SMTK)?

The report lists Klaas de Boer (director) as the reporting person; the Form 4 was signed by attorney-in-fact Ian Jenks on 09/05/2025.

What was granted to Klaas de Boer in the SMTK Form 4?

A stock option covering 22,466 shares with an exercise price of $1.16, granted on 09/03/2025.

What is the vesting schedule for the option reported on SMTK Form 4?

The option vests 25% on the grant date, with the remaining shares vesting in equal monthly installments over 36 months commencing 09/03/2025.

When does the option expire according to the Form 4?

The filing indicates an expiration date of 09/03/2035 for the option.

Is this Form 4 filing considered timely?

Yes; the transaction date is 09/03/2025 and the Form 4 was filed/signed on 09/05/2025, consistent with Section 16 reporting expectations.