Daughtery Daniel Duke 4/A

What Happened

• Director Daniel Duke received an award of stock options effective January 22, 2026. The Form 4 reports a derivative acquisition (3,333 units shown in Table II), and a footnote clarifies the Board awarded options to acquire 58,333 shares of common stock with an exercise price of $2.04 per share (the Nasdaq closing price on Jan 22, 2026). 100% of the options vest on January 22, 2027, contingent on the Reporting Person remaining a director on that date. Because the exercise price equals the grant-date closing price, the options had no immediate intrinsic value at grant.

Key Details

• Transaction date: January 22, 2026. Form 4 filed (amendment) on March 2, 2026 (Accession 0001493152-26-008584).
• Award: Options to acquire 58,333 shares; exercise price $2.04 per share; 100% vesting on January 22, 2027, contingent on continued service.
• Table II shows acquisition of 3,333 derivative units; footnotes F1 and F2 explain this reporting and the full option award.
• Footnote F1: Reflects a reverse stock split that occurred on January 8, 2026.
• Filing status: This is an amended Form 4 filed to correct reporting in Table II (the amendment note appears in the filing). The filing does not disclose the reporter’s total shares owned following the transaction.

Context

• This was an option grant (award), not a purchase or sale of shares. Option awards are compensation and do not necessarily signal immediate trading intent.
• The options vest in one year and are contingent on continued board service, so they represent a future right to buy shares rather than an immediate change in share ownership or cash position.
• Because the exercise price equals the market price on the grant date, the options had no immediate intrinsic value at grant.