Form 4: Phio Pharmaceuticals CEO Buys 5,000 Shares

Phio Pharmaceuticals Corp.'s Chairman, President, and CEO, Robert J. Bitterman, acquired 5,000 shares of common stock.

Summary

• Robert J. Bitterman, Phio Pharmaceuticals Corp.'s Chairman, President, and CEO, purchased 5,000 shares of common stock.
• The transaction occurred on December 31, 2025, at a price of $1.03 per share.
• Following this purchase, Mr. Bitterman beneficially owns a total of 291,421 shares of Phio Pharmaceuticals common stock.
• The reported ownership includes shares of common stock underlying unvested restricted stock units.
• The transaction was made pursuant to a Rule 10b5-1(c) pre-arranged trading plan.

Sentiment

Score: 7

Explanation: The sentiment is positive due to the insider purchase by the CEO, indicating confidence in the company's future. The transaction being part of a 10b5-1 plan suggests a pre-planned investment strategy rather than an immediate reaction to new information, but still reflects a positive long-term outlook.

Positives

• An insider purchase by the Chairman, President, and CEO signals confidence in the company's future prospects.
• The acquisition of 5,000 shares at $1.03 per share increases the CEO's direct stake in the company.

Future Outlook

This filing does not contain forward-looking statements or guidance, beyond the implication of insider confidence.

Industry Context

This insider purchase by the CEO of Phio Pharmaceuticals Corp. is a common event in the biotech/pharmaceutical industry, where management often holds significant equity stakes. Such transactions are typically viewed as a positive signal of management's belief in the company's long-term value, especially in a sector with high R&D costs and long development cycles.

Comparison to Industry Standards

• Insider purchases, particularly by top executives like the CEO, are generally seen as a positive indicator across all industries, including biotechnology. While the specific amount of 5,000 shares is modest, the act of purchasing rather than selling is noteworthy.
• The use of a Rule 10b5-1 plan is a standard practice for insiders to manage their stock transactions in compliance with SEC regulations, providing an affirmative defense against insider trading allegations. This is common among executives in publicly traded companies.

Related Party Transactions

• The acquisition of common stock by Robert J. Bitterman, the Chairman, President, and CEO, constitutes a related party transaction as he is an insider of Phio Pharmaceuticals Corp.

Stakeholder Impact

• Shareholders may view this insider purchase as a positive signal, potentially increasing confidence in the company's stock.
• Employees might interpret the CEO's investment as a sign of stability and belief in the company's direction.

Key Dates

Recommendation

The direct purchase of company stock by the Chairman, President, and CEO, Robert J. Bitterman, is a strong signal of confidence in Phio Pharmaceuticals Corp.'s future prospects. While the transaction was part of a 10b5-1 plan, the decision to acquire shares at $1.03 per share suggests management believes the stock is undervalued or poised for growth. This insider buying activity typically precedes positive developments or reflects a strong belief in the company's strategic direction, making it a favorable indicator for potential investors.

Keywords

Phio Pharmaceuticals, PHIO, Insider Trading, Stock Purchase, CEO, Robert J. Bitterman, Form 4, Equity Acquisition, 10b5-1 Plan