Ives Glen R 4

What Happened
Glen R. Ives, Chief Executive Officer of Castellum, Inc. (CTM), reported two transactions on July 1, 2026. He purchased 1,262 shares of Castellum common stock through the company's 2025 Employee Stock Purchase Plan (ESPP) at $0.61 per share (total ≈ $772). In the same filing he was granted 773,630 stock options under the Castellum Third Amended 2021 Stock Incentive Plan; the options vest ratably over 18 months and the exercise price is set to the closing price of the stock on the grant date.

Key Details

• Transaction dates: July 1, 2026 (both purchase and option grant); Form 4 filed July 2, 2026 (timely filing).
• Purchase: 1,262 shares @ $0.61 per share = ~$772; purchased under ESPP at a 15% discount to the June 30, 2026 closing price (Footnote F1).
• Award: 773,630 stock options granted pursuant to an amendment to his employment agreement (Footnote F2); options vest ratably over 18 months; exercise price equals the closing NYSE American price on July 1, 2026.
• Codes: P = purchase (ESPP); A = award/grant (options).
• Shares owned after the transactions: not disclosed in this filing.
• Filing timeliness: filed the next day (July 2) — appears timely under Form 4 rules.

Context
The ESPP purchase is a straightforward employee purchase at a 15% discount, which is a common way executives accumulate shares. The large options grant is a derivative award that will only convert into exercisable shares as it vests; the exercise price being set at the market close on the grant date means the options are at-market at grant (future value depends on stock performance). These entries do not indicate exercised options or immediate sales.