Dunlap Ryan 4

What Happened
Ryan Dunlap, a director of CytoDyn Inc. (CYDY), received a grant of derivative securities covering 574,385 shares on March 20, 2026. The filing reports an acquisition price of $0.00 (i.e., no cash paid at grant) and classifies the award as a derivative (stock option) award. The grant was approved by the Compensation Committee as the annual 2026 award under the company’s 2012 Equity Incentive Plan.

Key Details

• Transaction date: 2026-03-20; Form 4 filed: 2026-03-24 (filed one business day late).
• Reported amount: 574,385 shares; reported acquisition price: $0.00 (derivative award).
• Vesting: The award vests in ~12 equal monthly installments on the same day each month from April 2026 through March 2027 (per footnote).
• Plan: Award issued under the Issuer’s 2012 Equity Incentive Plan, using shares reserved for employees, directors and certain consultants.
• Shares owned after transaction: not specified in the available filing.
• Filing timeliness: filing appears late by one business day (March 24 filing for a March 20 transaction).

Context
This is a compensation grant (option award) rather than an open‑market purchase or sale. Such grants are routine director compensation and do not itself signal a buy or sell decision—options only convert into economic ownership if they vest and are exercised. Retail investors commonly treat purchases as a stronger immediate signal of insider conviction than routine awards.