Alzamend (ALZN) Director Milton Ault Receives $7.5M Preferred Award

What Happened

• Milton C. Ault III, a director of Alzamend Neuro, received a grant/award of 7,500 shares of Series D Convertible Preferred Stock on July 31, 2026. The Form 4 reports the acquisition at $1,000.00 per share for a reported aggregate value of $7,500,000. The award is a derivative security (convertible preferred), not an outright purchase of common stock.

Key Details

• Transaction date and terms: 7,500 shares of Series D Convertible Preferred Stock acquired on 2026-07-31 at $1,000.00 per share (total $7,500,000), reported on Form 4 filed 2026-08-04.
• Conversion mechanics: Footnote F1/F3 — each Series D has a stated value of $1,050 and is convertible into common stock; as of 2026-08-04 the conversion price was $1.016, implying ≈1,033.5 common shares per preferred share (conversion price is adjustable under specified conditions).
• No expiration: Footnote F2 states the Series D preferred has no expiration date.
• Beneficial ownership / parties: Footnote F4 explains Ault Lending, LLC (wholly owned by Ault Capital Group, Inc., which is wholly owned by Hyperscale Data, Inc.) holds record title for some securities and Mr. Ault (Executive Chairman of Hyperscale Data) is deemed to have voting/investment power with respect to those holdings.
• Other insider holdings: Footnote F5 notes Mr. Ault previously received options to buy 100,000 common shares with a vesting schedule; this is separate from the Series D award.
• Shares owned after transaction: The Form 4 does not itemize total common shares beneficially owned after this preferred grant (conversion would change common-equivalent holdings).
• Timeliness: Form 4 was filed on 2026-08-04 for a 2026-07-31 transaction, which is within the SEC’s two-business-day reporting window (timely).

Context

• This was an award of convertible preferred stock (derivative acquisition), not an open-market purchase or sale. The Series D can be converted into common shares under the stated conversion formula; using the conversion price of $1.016 (per the filing), 7,500 preferred shares would convert into roughly 7.75 million common shares in aggregate — a theoretical common-equivalent figure that depends on actual conversion timing and adjustments.
• For retail investors: awards and convertible preferreds indicate a non-cash compensation/financing event and can be dilutive if converted to common stock. This filing is informational; it does not by itself indicate Mr. Ault’s intent to buy or sell common shares.