Form 4: RELMADA Director Granted 164,000 Stock Appreciation Rights

RELMADA Therapeutics Director John Glasspool was granted 164,000 Stock Appreciation Rights with an exercise price of $4.06, vesting quarterly starting March 2026.

Summary

• John Glasspool, a Director of RELMADA Therapeutics, Inc. (RLMD), was granted 164,000 Stock Appreciation Rights (SARs).
• The transaction date for this grant was December 12, 2025.
• Each SAR has an exercise price of $4.06.
• The SARs will vest in 16 equal quarterly installments, commencing on March 12, 2026.
• The expiration date for these SARs is December 12, 2035.
• Following this transaction, John Glasspool beneficially owns 164,000 derivative securities directly.

Sentiment

Score: 6

Explanation: The sentiment is moderately positive. While it represents a potential future compensation expense and dilution, it primarily serves as an incentive for a director to drive stock price appreciation, aligning their interests with shareholders. It's a standard compensation practice.

Positives

• The grant of Stock Appreciation Rights aligns the director's interests with shareholders by incentivizing an increase in the company's stock price.
• The long vesting schedule (16 equal quarterly installments) encourages long-term commitment and performance from the director.

Negatives

• The potential future exercise of these SARs could lead to dilution for existing shareholders if the stock price rises above the exercise price.

Future Outlook

The grant of Stock Appreciation Rights indicates a long-term incentive structure for a key director, aligning future compensation with potential stock price appreciation over the next decade.

Industry Context

Grants of Stock Appreciation Rights are a common form of equity-based compensation in the biotechnology and pharmaceutical industries, used to attract, retain, and incentivize key management and directors by linking their compensation to the company's stock performance.

Comparison to Industry Standards

• The use of Stock Appreciation Rights (SARs) as a compensation tool is standard practice across many industries, including biotechnology, for aligning executive and director incentives with shareholder value creation.
• The exercise price of $4.06, being the market price on the grant date, is typical for SAR grants, ensuring that the director benefits only if the stock price increases from that point.
• A 10-year expiration period (until December 2035) is a common duration for such long-term incentive awards, providing ample time for the company's strategic initiatives to mature and reflect in stock performance.

Related Party Transactions

• The grant of Stock Appreciation Rights to John Glasspool, a Director, constitutes a related party transaction as it involves compensation provided by the company to a member of its board.

Stakeholder Impact

• Shareholders: Potential for future dilution if SARs are exercised, but also benefit from incentivized director performance aimed at increasing stock value.
• Director (John Glasspool): Receives a significant equity incentive tied to the company's stock performance, providing a direct financial interest in its success.

Next Steps

• The Stock Appreciation Rights will begin vesting in 16 equal quarterly installments starting March 12, 2026.

Key Dates

Keywords

RELMADA Therapeutics, RLMD, Stock Appreciation Rights, SARs, Director Compensation, Executive Compensation, SEC Form 4, Beneficial Ownership, Equity Grant