ELLIS THOMAS B 4

What Happened
Ellis Thomas B, reported as a 10% owner of Guerrilla RF (GUER), was granted a derivative award of 15,625 shares on May 15, 2026. The award was reported as acquired at $0.00 per share (no cash paid) and is recorded as a derivative security rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-05-15; Filing date: 2026-05-19. (The filing occurred four days after the transaction; Form 4s are normally due within two business days and this may be late.)
• Shares granted: 15,625 derivative shares; price reported: $0.00 (no cash exchanged).
• Shares owned after transaction: Not specified in the supplied filing.
• Footnotes of note:
  • F1: The securities have no expiration date.
  • F2: Reported shares are directly held by NR-PRL Partners, LP and may be indirectly owned by NR-PRL Partners GP, LLC.
  • F3: Reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
• Transaction code: A (Award/Grant). This is not a sale.

Context
This was an award of derivative securities, not an open‑market purchase or sale. The filing does not detail conversion/settlement mechanics or whether/when these derivative shares become common stock. Because the securities are held through NR-PRL Partners entities and the reporting person is a 10% owner, this looks like an institutional/partner-level holding rather than a routine executive market trade. The reporting person’s disclaimer limits implied beneficial ownership except for pecuniary interest — read the footnotes for ownership nuance.