Form 4: Castellum Director McMillen Receives Stock Options as Compensation

Director Charles Thomas McMillen received 250,000 stock options as compensation for his service as an independent member of the Board of Directors of Castellum, Inc.

Summary

• Charles Thomas McMillen, a director of Castellum, Inc., received 250,000 stock options on July 1, 2024.
• The options were granted as compensation for his service as an independent member of the Board of Directors.
• The stock options have an exercise price of $0.212.
• The options vest quarterly over a one-year period and expire on June 30, 2031.
• The grant was made pursuant to the terms of the Castellum, Inc. Amended 2021 Stock Incentive Plan.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine compensation disclosure. The grant of options is a standard practice.

Positives

• The grant of stock options aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service on the board.

Industry Context

Stock options are a common form of compensation for directors, especially in smaller companies, to align their interests with shareholders and conserve cash.

Stakeholder Impact

• The grant of stock options could potentially dilute existing shareholders if the options are exercised.

Key Dates