Silo Pharma: agrees to purchase software for 150,000 shares

What happened

• Silo Pharma filed an 8-K reporting that on Oct 13, 2026 it entered into an asset purchase agreement with Larry King and issued to the Seller 150,000 shares of its common stock as consideration for certain software and related intellectual property.
• The shares are common stock, par value $0.0001 per share, and are subject to a lock-up period described in the agreement.

Key details

• The lock-up period runs from the effective date until the earlier of (i) twelve (12) months after such date, (ii) a Change in Control as defined in the agreement, or (iii) written consent of the Company.
• During the lock-up period, the Seller may not, without the Company’s prior written consent, offer, sell, hedge, pledge, grant options or otherwise transfer or dispose of the shares or enter into swaps that transfer the economic consequences of ownership.
• The agreement includes customary representations, warranties and covenants and provides that the Seller will indemnify the Company for misrepresentation or breach, infringement of third-party rights by the software, and acts of gross negligence, fraud or intentional misconduct.
• The transaction is also reported under Item 3.02 as an unregistered sale of equity securities.

Why it may matter

• The filing reports Item 1.01 (entry into a material definitive agreement) and Item 3.02 (unregistered sales of equity securities), describing the asset purchase, share issuance and lock-up terms. This filing does not show why the insider traded or why the company acted.