KERSTEN GEERT R 4

What Happened
Kersten Geert R, CEO of CEL SCI Corp. (CVM), purchased 100,000 restricted shares from the company on May 13, 2026. The shares were acquired at $1.19 per share for a total transaction value of $119,000. This was a purchase (insider buy), which many investors view as a more informative signal than routine sales.

Key Details

• Transaction date and price: May 13, 2026 — 100,000 shares at $1.19 per share (total $119,000). (Transaction code: P = Purchase)
• Filing date: Form 4 filed May 14, 2026 (covers the 5/13 trade) — appears timely under standard Form 4 rules.
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: The filing states the shares are restricted stock purchased directly from the company at the closing price on May 12, 2026 (the most recent closing price available).
• No indication of a 10b5-1 plan, gift, option exercise, or tax withholding in the disclosed transaction.

Context
Restricted shares typically carry transfer or vesting limitations; they are not the same as open-market purchases of free-trading stock. Because this was a direct purchase from the company, it reflects an insider adding to ownership rather than selling or exercising options. The filing appears timely (filed the business day after the trade), and the transaction should be viewed as factual disclosure only — it does not, by itself, prove the insider’s motivations.