Saund Saran 4

What Happened
Saund Saran, Chief Business Officer of Oncotelic Therapeutics (OTLC), was granted 1,500 restricted stock units (RSUs) on July 10, 2026. The award was reported as a derivative grant at $0.00. Each RSU entitles the holder to one share of the issuer’s Series A Convertible Preferred Stock upon settlement, and each such preferred share is convertible into 1,000 shares of common stock — implying a potential maximum of 1,500,000 common shares if all RSUs vest and all preferred shares are converted. The RSUs are performance- and time-based and are not an immediate purchase of common stock.

Key Details

• Transaction date: July 10, 2026; filing date: July 14, 2026 (no late-filing flag indicated in the provided filing).
• Transaction type/code: Award/Grant (A); price reported $0.00.
• Amount: 1,500 RSUs (derivative).
• Shares owned after transaction: Not specified in the provided filing.
• Footnote summary:
  • F1: Each RSU settles into one share of Series A Convertible Preferred Stock; each preferred share converts into 1,000 common shares.
  • F2: RSU vesting requires an uplisting of the common stock to a national exchange on or before June 30, 2027 (or later if Board approves) and the reporting person’s continued service for six months after the uplisting.
• No 10b5-1 plan, tax-withholding, or other special conditions were noted in the provided footnotes.

Context
This is a compensation/retention award, not an open-market purchase or sale, so it does not indicate an immediate change in market exposure. The award is contingent on a corporate milestone (uplisting) and time-based service, and shares will only be delivered upon vesting and settlement; conversion to common stock would occur via the preferred share conversion mechanics. Investors should note the potential dilution if the preferred shares are converted in full, but these are conditional rights rather than current common-stock holdings.