Shattuck Labs CFO Increases Stake; Warrants Tied to SL-325 Trial Data

Rhea-AI Filing Summary

Shattuck Labs CFO Andrew R. Neill purchased 64,027 shares and received 64,027 accompanying warrants in a private placement that closed on August 25, 2025. The combined price paid for each share plus warrant was $0.8677, and the warrants have an exercise price of $1.0846. After the transaction the reporting person beneficially owned 237,473 shares. The warrants are exercisable any time after issuance until 30 days following public disclosure of specified Phase 1 clinical trial data and the planned Phase 2 design for SL-325.

Positive

• Material insider participation: CFO purchased 64,027 shares and accompanying warrants, increasing his beneficial ownership to 237,473 shares
• Aligned incentives: Warrants exercisable contingent on public disclosure of Phase 1 data and Phase 2 design for SL-325, linking upside to clinical progress
• Transparent disclosure: Form 4 clearly reports transaction details including price and warrant terms

Negative

• Conditional exercisability: Warrants cannot be exercised until the issuer publicly announces specified clinical data and Phase 2 design, delaying potential value realization
• Private placement price: Purchase price of $0.8677 per share-plus-warrant may imply dilution risk for existing shareholders if exercised

Insights

Financial Analyst

TL;DR: Insider purchase increases CFO stake; transaction size is modest but aligns financial interest with company outcomes.

The reported private placement shows the CFO acquired 64,027 shares plus 64,027 detachable warrants at $0.8677 per share-plus-warrant, raising his beneficial ownership to 237,473 shares. For a public market observer, this is a routine insider buy rather than a material corporate event. The warrants' exercisability depends on the company publicly releasing Phase 1 clinical data and a Phase 2 design, linking value realization to clinical milestones for SL-325.

Corporate Governance Expert

TL;DR: Transaction is a standard, disclosed insider participation in a private placement with conditional warrant terms tied to clinical disclosures.

The Form 4 transparently discloses the CFO's participation in the issuer's August 25, 2025 private placement and the contingent exercise window for warrants. From a governance perspective, the filing meets Section 16 reporting requirements and specifies the condition triggering warrant exercisability, which is relevant for assessing alignment of executive incentives with milestone-driven value creation.

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
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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^*

Neill Andrew R

(Last) (First) (Middle)

C/O SHATTUCK LABS, INC.

500 W. 5TH STREET, SUITE 1200

(Street)

AUSTIN TX 78701

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Shattuck Labs, Inc. [ STTK ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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	08/25/2025		A(1)		64,027	A	$0.8677(1)	237,473	D

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
Warrants (Right to Buy)	$1.0846	08/25/2025		A(1)		64,027		(2)	(2)	Common Stock	64,027	(1)	64,027	D

Explanation of Responses:

1. On August 4, 2025, the Issuer entered into a securities purchase agreement (the "Purchase Agreement") with certain accredited investors, including the Reporting Person. Pursuant to the terms of the Purchase Agreement, the Issuer in a private placement, which closed on August 25, 2025, issued and sold to the Reporting Person 64,027 shares of the Issuer's common stock and accompanying warrants (the "Warrants") to purchase up to an aggregate of 64,027 shares of the Issuer's common stock at a combined price per share and accompanying Warrant of $0.8677.

2. The Warrants are exercisable at any time on or after the original issuance date until the 30th day following the date on which the data from the single ascending dose and multiple ascending dose portions of the Issuer's Phase 1 clinical trial of SL-325, including receptor occupancy and safety data, and the design of the planned Phase 2 clinical trial(s) have been announced publicly.

	/s/ Andrew R. Neill	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 did Shattuck Labs (STTK) insider Andrew R. Neill acquire on August 25, 2025?

The reporting person acquired 64,027 shares of common stock and 64,027 warrants to purchase common stock in a private placement that closed on August 25, 2025.

How much did the CFO pay per share and warrant in the private placement?

The combined price per share and accompanying warrant was $0.8677.

What is the exercise price and exercisability condition of the warrants?

The warrants have an exercise price of $1.0846 and are exercisable until 30 days after public disclosure of specified Phase 1 clinical trial data and the planned Phase 2 design for SL-325.

How many Shattuck Labs shares does Andrew R. Neill beneficially own after the transaction?

Following the transaction the reporting person beneficially owned 237,473 shares.

What was the transaction type reported on the Form 4?

The Form 4 reports a private placement purchase (transaction code A) that closed on August 25, 2025.