McMillen Charles Thomas 4

What Happened Charles McMillen, a director of Castellum, Inc. (CTM), disposed of 30,000 shares on March 25, 2026 at $0.70 per share, generating gross proceeds of approximately $21,129. The filing notes these shares were issued in connection with a cashless exercise of stock options and then sold — a common way insiders convert option gains to cash.

Key Details

• Transaction date and type: March 25, 2026 — Sale of 30,000 shares at $0.70 per share (S).
• Total proceeds: ~$21,129 (gross).
• Footnote: Shares were issued in connection with a cashless exercise of stock options (the shares came from exercising options and were sold in the same transaction).
• Filing date: March 27, 2026 (reported on Form 4).
• Shares owned after transaction: Not specified in the provided filing details.

Context This transaction reflects an option exercise paired with an immediate sale (cashless exercise), which is often done to cover option exercise costs and taxes or to realize gains. Such sales are common and do not by themselves indicate the insider’s long-term view of the company. Purchases typically carry more weight as directional signals for investors.