Form 4: Guerrilla RF CEO Granted New Stock Options

Sentiment:

Insider Transaction Report 18 November 2025 3:28 PM

Guerrilla RF CEO Ryan Michael Pratt was granted 50,330 new stock options with an exercise price of $3.05, vesting over several years.

Summary

Ryan Michael Pratt, Chief Executive Officer and Director of Guerrilla RF, Inc. (GUER), reported changes in his beneficial ownership of company securities.
On November 17, 2025, Pratt was granted 50,000 stock options directly and an additional 330 stock options indirectly, held by his spouse.
These newly granted options have an exercise price of $3.05 per share and are set to expire on November 17, 2035.
The direct options will vest with 12,500 units on May 21, 2026; 1,041 units monthly from June 21, 2026, through April 21, 2029; and 1,065 units on May 21, 2029, all contingent on continued service.
The indirect options held by his spouse will vest with 82 units on May 21, 2026; 6 units monthly from June 21, 2026, through April 21, 2029; and 38 units on May 21, 2029, also subject to continued service.
Pratt's direct beneficial ownership of common stock totals 978,693 shares.
Indirect beneficial ownership of common stock includes 2,802 shares held by his spouse and 189,066 shares held across three irrevocable trusts for his children (63,022 shares each).
Existing derivative holdings include various fully vested stock options held by his spouse, restricted stock units (RSUs) with vesting dates through January 1, 2027, and a direct warrant for 33,822 shares expiring on September 28, 2029.

Sentiment

Score: 6

Explanation: The filing reports a routine equity grant to the CEO, which is generally viewed as a neutral to slightly positive event as it aligns management's interests with shareholders. It does not contain information that would significantly alter the company's fundamental outlook.

Positives

The grant of new stock options to the CEO aligns management's long-term interests with those of shareholders, incentivizing performance and retention.
The options have a 10-year expiration, providing a long-term incentive horizon.

Risks

The vesting of all granted stock options and restricted stock units is subject to the Reporting Person's continued service through the applicable vesting dates, meaning the full benefit is not guaranteed if employment ceases.
The value of the stock options is dependent on the future market price of Guerrilla RF, Inc. common stock exceeding the exercise price of $3.05.

Future Outlook

The grant of stock options and restricted stock units with multi-year vesting schedules indicates an expectation of continued service from the CEO and a long-term incentive structure tied to the company's future performance. The vesting schedules extend through May 2029 for options and January 2027 for RSUs.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction, specifically an equity grant to a key executive. Such grants are common practice across industries to incentivize and retain top management, aligning their financial interests with the long-term success of the company and its shareholders.

Related Party Transactions

Indirect beneficial ownership of 2,802 common shares and several stock options held by the reporting person's spouse.
Indirect beneficial ownership of 189,066 common shares held across three irrevocable trusts established for the benefit of the reporting person's children.

Stakeholder Impact

Shareholders: The grant of options aims to align the CEO's financial incentives with shareholder value creation over the long term.
Employees: The CEO's continued commitment, incentivized by these grants, can provide stability and strategic direction for employees.

Next Steps

Continued vesting of the newly granted stock options and existing restricted stock units on their respective schedules, subject to the CEO's continued service.
Potential exercise of vested stock options and warrants by the reporting person in the future.

Key Dates

Date	Description
06/07/2021	Date of the 2021 Irrevocable Trusts for Patrick Joseph Pratt, Rachel Katherin Pratt, and Nikolas Ryan Pratt.
09/28/2024	Date exercisable for a direct warrant.
11/17/2025	Date of earliest transaction: Grant of new direct and indirect stock options to Ryan Michael Pratt.
11/18/2025	Filing date of the Form 4.
01/01/2026	Vesting date for 8,334 direct Restricted Stock Units and 11,792 direct Restricted Stock Units.
05/21/2026	First vesting date for new direct (12,500 options) and indirect (82 options) stock options.
06/21/2026	Start of monthly vesting for new direct (1,041 options) and indirect (6 options) stock options.
08/21/2026	Vesting date for 834 indirect Restricted Stock Units held by spouse.
10/26/2026	Expiration date for a stock option held by spouse with an exercise price of $1.42.
01/01/2027	Vesting date for 11,793 direct Restricted Stock Units.
09/25/2028	Expiration date for a stock option held by spouse with an exercise price of $1.93.
04/21/2029	End of monthly vesting period for new direct and indirect stock options.
05/21/2029	Final vesting date for new direct (1,065 options) and indirect (38 options) stock options.
09/11/2029	Expiration date for a stock option held by spouse with an exercise price of $2.2.
09/28/2029	Expiration date for a direct warrant with an exercise price of $2.5.
10/30/2030	Expiration date for a stock option held by spouse with an exercise price of $3.19.
11/17/2035	Expiration date for the newly granted direct and indirect stock options.

Recommendation

hold

This Form 4 filing details a routine grant of stock options to the CEO, a standard practice for executive compensation. While it indicates continued alignment of management's interests with shareholders, it does not present new information significant enough to warrant a change in an investment recommendation based solely on this disclosure. Investors should consider broader financial performance and strategic developments.

Keywords

Guerrilla RF, GUER, Ryan Michael Pratt, Stock Options, CEO, Insider Transaction, Equity Grant, Restricted Stock Units, Beneficial Ownership

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