Bell David T 4

What Happened

• David T. Bell, Chief Financial Officer of Castellum, Inc. (CTM), purchased 1,202 shares of Castellum common stock on July 1, 2026.
• The filing reports a per-share purchase price of $0.61 and a reported total value of $736. The shares were acquired under Castellum’s 2025 Employee Stock Purchase Plan (ESPP).

Key Details

• Transaction date: 2026-07-01; Filing date (Form 4): 2026-07-02 (timely filing).
• Transaction type: P = Purchase (ESPP acquisition).
• Price reported: $0.61 per share; reported total value: $736.
• Footnote: The purchase was made pursuant to the 2025 Employee Stock Purchase Plan; the per-share price was set at a 15% discount to the closing price on the NYSE American on June 30, 2026.
• Shares owned after the transaction: not specified in the filing.
• No indication of a 10b5-1 plan, tax withholding, or late filing in this report.

Context

• ESPP purchases are commonly automatic purchases via an employee plan and are routine for employees and executives; they often reflect participation in a compensation/savings program rather than discretionary market timing.
• While insider purchases can be a positive signal, this transaction is small in dollar terms ($736) and should be weighed alongside other insider activity and company fundamentals.