SEC Filing Analysis: BIOLARGO, INC. (BLGO)

Executive Summary

• Trading Significance: Low
• Key Takeaway: The Chief Science Officer and Director, Kenneth Reay Code, was awarded 313,754 shares, valued at approximately $50,201, as payment for accrued salary and business expenses.
• Market Impact: The impact is expected to be neutral as this is a non-market transaction for services rendered, not a new investment decision. The shares are also subject to a lock-up agreement.

Company Information

Field	Value
Company	BIOLARGO, INC.
Ticker Symbol	BLGO
CIK	0000880242
Industry	Chemicals & Allied Products

Insider Information

Field	Value
Name	CODE KENNETH REAY
CIK	0001370684
Title/Position	Chief Science Officer
Relationship	Director, Officer

Transaction Details

Field	Value
Form Type	4
Transaction Date	2025-11-14
Transaction Code	A (Award)
Security Type	Common Stock
Shares Involved	313,754
Price Per Share	$0.16
Total Value	$50,200.64
Shares Owned After	25,751,505
Ownership Type	Direct (with a note on significant indirect holdings)

Additional Context

Transaction Notes

• Special Circumstances: According to footnote 2, the shares were received in exchange for a reduction in amounts owed by the company to the insider for salary and unreimbursed business expenses.
• Lock-Up Agreement: Footnote 1 states the shares are subject to a lock-up agreement, restricting their sale until certain company performance milestones (e.g., >$40M revenue, >$300M market cap) or a change in control occurs.
• Ownership Structure: Footnote 3 clarifies that the total shares owned after the transaction includes 22,139,012 shares held indirectly through a wholly-owned corporation.