Form 4: Phio Pharma CEO Bitterman Buys 5,000 Shares

Phio Pharmaceuticals Corp.'s Chairman, President, and CEO, Robert J. Bitterman, purchased 5,000 shares of common stock at $1.27 per share.

Summary

• Robert J. Bitterman, the Chairman, President, and CEO of Phio Pharmaceuticals Corp., acquired 5,000 shares of the company's common stock.
• The transaction took place on November 18, 2025, with shares purchased at a price of $1.27 each.
• Following this acquisition, Mr. Bitterman's beneficial ownership totals 276,421 shares of Phio Pharmaceuticals Corp. common stock, which includes shares underlying unvested restricted stock units.
• This purchase was conducted pursuant to a Rule 10b5-1 pre-arranged trading plan.

Sentiment

Score: 7

Explanation: The purchase of shares by the Chairman, President, and CEO, Robert J. Bitterman, indicates a degree of confidence in the company's valuation and future. While the transaction was part of a Rule 10b5-1 plan, insider buying is generally viewed positively by the market.

Positives

• The purchase of shares by a key executive, specifically the Chairman, President, and CEO, signals management's confidence in the company's future prospects and valuation.
• This transaction increases the CEO's direct equity stake, further aligning his financial interests with those of other shareholders.

Related Party Transactions

• The purchase of 5,000 shares of common stock by Robert J. Bitterman, the Chairman, President, and CEO, is considered a related party transaction as it involves a key executive of Phio Pharmaceuticals Corp.

Stakeholder Impact

• Shareholders may view the insider purchase as a positive signal, potentially increasing confidence in the company's stock and management's belief in its future.
• Employees could interpret the CEO's investment as a sign of stability and commitment to the company's long-term vision.

Key Dates

Recommendation

The purchase of 5,000 shares by the CEO, Robert J. Bitterman, signals management's confidence in Phio Pharmaceuticals Corp.'s future. This insider buying, while a positive indicator, is a relatively small transaction in the context of the company's overall market capitalization and Mr. Bitterman's total holdings. It was also executed under a Rule 10b5-1 plan, which suggests it was pre-scheduled rather than a spontaneous market timing decision. Therefore, while it provides a positive sentiment boost, it does not fundamentally alter the investment thesis to warrant a strong buy or sell recommendation based solely on this filing. It reinforces a 'hold' position for current investors and suggests continued monitoring for potential investors.

Keywords

Phio Pharmaceuticals, PHIO, Insider Trading, Stock Purchase, Robert J. Bitterman, CEO, Director, Common Stock, Form 4, Beneficial Ownership