OTLK

SEC source: 0002074701-26-000005 · form4-09022026_080957.xml · derivative · entry 1

Lundquist Kevin Michael · CIK 0002074701 · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 500,000

Underlying: Common Stock · 500,000 shares

Expires 2036-09-01

F1 · derivative.exercise_date: The option was granted by Outlook Therapeutics, Inc. (the "Issuer") as an inducement material to the Reporting Person's entry into employment with the Issuer in accordance with Nasdaq Listing Rule 5635(c)(4). 25% of the shares subject to the option shall vest on September 1, 2027, with the remaining shares vesting in equal monthly installments over the following three years thereafter, subject to the Reporting Person's continuous service with the Issuer on each such date.

SEC source: 0001649989-26-000009 · primary_doc.xml · derivative · entry 2

KENYON LAWRENCE A · CIK 0001230484 · Director · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 101,010

Underlying: Common Stock · 101,010 shares

Expires 2031-08-14

F2 · security: The warrants were exercisable immediately upon issuance and expire five years from the date of issuance, on August 14, 2031.

F1 · price: On August 14, 2026, the reporting person acquired 101,010 shares of common stock and accompanying warrants to purchase 101,010 shares of common stock in the Issuer's underwritten public offering of shares of common stock and accompanying warrants for a combined public offering price of $0.99 per share of common stock and accompanying warrant.

SEC source: 0001649989-26-000009 · primary_doc.xml · nonDerivative · entry 1

KENYON LAWRENCE A · CIK 0001230484 · Director · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 106,956

F1 · price: On August 14, 2026, the reporting person acquired 101,010 shares of common stock and accompanying warrants to purchase 101,010 shares of common stock in the Issuer's underwritten public offering of shares of common stock and accompanying warrants for a combined public offering price of $0.99 per share of common stock and accompanying warrant.

SEC source: 0001104659-26-097406 · tm2623340-2_4seq1.xml · derivative · entry 2

Jahr Robert Charles · CIK 0002076177 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 151,515

Underlying: Common Stock · 151,515 shares

Expires 2031-08-14

F2 · security: The warrants were exercisable immediately upon issuance and expire five years from the date of issuance, on August 14, 2031.

F1 · price: On August 14, 2026, the reporting person acquired 151,515 shares of common stock and accompanying warrants to purchase 151,515 shares of common stock in the Issuer's underwritten public offering of shares of common stock and accompanying warrants for a combined public offering price of $0.99 per share of common stock and accompanying warrant.

SEC source: 0001104659-26-097406 · tm2623340-2_4seq1.xml · nonDerivative · entry 1

Jahr Robert Charles · CIK 0002076177 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 151,515

F1 · price: On August 14, 2026, the reporting person acquired 151,515 shares of common stock and accompanying warrants to purchase 151,515 shares of common stock in the Issuer's underwritten public offering of shares of common stock and accompanying warrants for a combined public offering price of $0.99 per share of common stock and accompanying warrant.

SEC source: 0000899140-26-000894 · form4.xml · derivative · entry 2

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 2,525,252

Underlying: Common Stock · 2,525,252 shares

Expires 2031-08-14

F1 · price: On August 12, 2026, the Issuer entered into an underwriting agreement with Piper Sandler & Co. and BTIG, LLC, as representatives of the several underwriters named therein, relating to an underwritten public offering by the Issuer of shares of its common stock and accompanying warrants to purchase shares of common stock at a combined public offering price of $0.99 per share of common stock and accompanying warrant. The offering closed on August 14, 2026. The price reported in Table I above represents the combined public offering price for one share of common stock and one accompanying warrant to purchase one share of common stock; no separate consideration was paid for the accompanying warrants, and accordingly the price of the derivative security reported in Table II above is $0.00.

F2 · derivative.exercise_date: The warrants were exercisable immediately upon issuance and expire five years from the date of issuance, on August 14, 2031. The warrants are subject to a beneficial ownership limitation that prohibits exercise to the extent the holder, together with its affiliates and other attribution parties, would beneficially own more than the applicable percentage of the Issuer's outstanding common stock immediately after giving effect to such exercise.

F2 · derivative.expiration_date: The warrants were exercisable immediately upon issuance and expire five years from the date of issuance, on August 14, 2031. The warrants are subject to a beneficial ownership limitation that prohibits exercise to the extent the holder, together with its affiliates and other attribution parties, would beneficially own more than the applicable percentage of the Issuer's outstanding common stock immediately after giving effect to such exercise.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000899140-26-000894 · form4.xml · nonDerivative · entry 1

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 24,617,320

F1 · price: On August 12, 2026, the Issuer entered into an underwriting agreement with Piper Sandler & Co. and BTIG, LLC, as representatives of the several underwriters named therein, relating to an underwritten public offering by the Issuer of shares of its common stock and accompanying warrants to purchase shares of common stock at a combined public offering price of $0.99 per share of common stock and accompanying warrant. The offering closed on August 14, 2026. The price reported in Table I above represents the combined public offering price for one share of common stock and one accompanying warrant to purchase one share of common stock; no separate consideration was paid for the accompanying warrants, and accordingly the price of the derivative security reported in Table II above is $0.00.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0001649989-26-000008 · primary_doc.xml · nonDerivative · entry 1

Sukhtian Faisal Ghiath · CIK 0001716033 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 220,972

SEC source: 0001649989-26-000007 · primary_doc.xml · derivative · entry 1

KENYON LAWRENCE A · CIK 0001230484 · Director · Chief Financial Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 210,078

Underlying: Common Stock · 210,078 shares

Expires 2036-07-21

F1 · derivative.exercise_date: The option was granted to Mr. Kenyon on July 21, 2026, pursuant to the Issuer's 2024 Equity Incentive Plan and the Issuer's standard form of stock option agreement thereunder. The option vests and becomes exercisable in full on July 21, 2027, subject to Mr. Kenyon's continuing service with the Issuer through such vesting date.

SEC source: 0001649989-26-000006 · primary_doc.xml · derivative · entry 1

Jahr Robert Charles · CIK 0002076177 · Director · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,000

Underlying: Common Stock · 100,000 shares

Expires 2036-07-21

F1 · derivative.exercise_date: The option was granted to Mr. Jahr on July 21, 2026, pursuant to the Issuer's 2024 Equity Incentive Plan and the Issuer's standard form of stock option agreement thereunder. The option vests and becomes exercisable in full on July 21, 2027, subject to Mr. Jahr's continuing service with the Issuer through such vesting date.

SEC source: 0001649989-26-000005 · primary_doc.xml · nonDerivative · entry 1

Haddadin Yezan Munther · CIK 0001718004 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 66,167

SEC source: 0000899140-26-000620 · form4.xml · derivative · entry 7

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 8,571,428

Underlying: Common Stock · 8,571,428 shares

Expires 2030-05-27

F6 · kind: The transactions reported in Table II above involved the amendment of the outstanding warrants issued on May 27, 2025 to reduce the exercise price from $1.40 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F6 · price: The transactions reported in Table II above involved the amendment of the outstanding warrants issued on May 27, 2025 to reduce the exercise price from $1.40 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F2 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000899140-26-000620 · form4.xml · derivative · entry 6

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Common Stock · 8,571,428 shares

Expires 2030-05-27

F6 · kind: The transactions reported in Table II above involved the amendment of the outstanding warrants issued on May 27, 2025 to reduce the exercise price from $1.40 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F6 · price: The transactions reported in Table II above involved the amendment of the outstanding warrants issued on May 27, 2025 to reduce the exercise price from $1.40 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F2 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000899140-26-000620 · form4.xml · derivative · entry 5

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 3,458,571

Underlying: Common Stock · 3,458,571 shares

Expires 2030-03-11

F5 · kind: The transactions reported in Table II above involved the amendment of the outstanding Tranche B warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F5 · price: The transactions reported in Table II above involved the amendment of the outstanding Tranche B warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F2 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000899140-26-000620 · form4.xml · derivative · entry 4

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Common Stock · 3,458,571 shares

Expires 2030-03-11

F5 · kind: The transactions reported in Table II above involved the amendment of the outstanding Tranche B warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F5 · price: The transactions reported in Table II above involved the amendment of the outstanding Tranche B warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F2 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000899140-26-000620 · form4.xml · derivative · entry 3

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 3,458,571

Underlying: Common Stock · 3,458,571 shares

Expires 2030-01-17

F4 · kind: The transactions reported in Table II above involved the amendment of the outstanding Tranche A warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F4 · price: The transactions reported in Table II above involved the amendment of the outstanding Tranche A warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F2 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000899140-26-000620 · form4.xml · derivative · entry 2

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Common Stock · 3,458,571 shares

Expires 2030-01-17

F4 · kind: The transactions reported in Table II above involved the amendment of the outstanding Tranche A warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F4 · price: The transactions reported in Table II above involved the amendment of the outstanding Tranche A warrants issued on January 16, 2025 to reduce the exercise price from $2.26 per share to $0.5855 per share. The amendment is reported above as the cancellation of the old warrant and the acquisition of a new one.

F2 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000899140-26-000620 · form4.xml · nonDerivative · entry 1

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 22,092,068

F1 · shares: On May 28, 2026, GMS Ventures and Investments ("GMS Ventures") entered into a securities purchase agreement with Outlook Therapeutics, Inc. (the "Issuer") pursuant to which the Issuer agreed to issue and sell 8,539,709 shares of the Issuer's common stock at $0.5855 per share in a registered direct offering for a total purchase price of approximately $5.0 million.

F2 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owners of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0001649989-26-000004 · primary_doc.xml · nonDerivative · entry 1

Sukhtian Faisal Ghiath · CIK 0001716033 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 125,574

SEC source: 0001649989-26-000001 · primary_doc.xml · nonDerivative · entry 1

HILZINGER KURT J · CIK 0001191504 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 423,655

SEC source: 0001649989-26-000002 · primary_doc.xml · nonDerivative · entry 1

THURMAN RANDY H · CIK 0001204059 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,593

SEC source: 0001649989-26-000003 · primary_doc.xml · nonDerivative · entry 1

Haddadin Yezan Munther · CIK 0001718004 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 37,167

SEC source: 0001649989-25-000010 · primary_doc.xml · derivative · entry 2

Huang Andong · CIK 0001815678 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 53,316

Underlying: Common Stock · 53,316 shares

Expires 2035-10-03

F2 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $50,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000005 · primary_doc.xml · derivative · entry 2

Auffarth Gerd · CIK 0001649867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 58,648

Underlying: Common Stock · 58,648 shares

Expires 2035-10-03

F2 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $55,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000008 · primary_doc.xml · derivative · entry 2

HILZINGER KURT J · CIK 0001191504 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 90,638

Underlying: Common Stock · 90,638 shares

Expires 2035-10-03

F2 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $85,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000009 · primary_doc.xml · derivative · entry 2

Haller Julia A · CIK 0001656082 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 58,648

Underlying: Common Stock · 58,648 shares

Expires 2035-10-03

F2 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $55,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000006 · primary_doc.xml · derivative · entry 2

Haddadin Yezan Munther · CIK 0001718004 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 95,969

Underlying: Common Stock · 95,969 shares

Expires 2035-10-03

F2 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $90,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000003 · primary_doc.xml · derivative · entry 2

Sukhtian Faisal Ghiath · CIK 0001716033 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 117,296

Underlying: Common Stock · 117,296 shares

Expires 2035-10-03

F2 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $110,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000010 · primary_doc.xml · derivative · entry 1

Huang Andong · CIK 0001815678 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000005 · primary_doc.xml · derivative · entry 1

Auffarth Gerd · CIK 0001649867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000008 · primary_doc.xml · derivative · entry 1

HILZINGER KURT J · CIK 0001191504 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000004 · primary_doc.xml · derivative · entry 1

THURMAN RANDY H · CIK 0001204059 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000007 · primary_doc.xml · derivative · entry 1

Gangolli Julian S · CIK 0001532023 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000009 · primary_doc.xml · derivative · entry 1

Haller Julia A · CIK 0001656082 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000006 · primary_doc.xml · derivative · entry 1

Haddadin Yezan Munther · CIK 0001718004 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001649989-25-000003 · primary_doc.xml · derivative · entry 1

Sukhtian Faisal Ghiath · CIK 0001716033 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 286,734

Underlying: Common Stock · 286,734 shares

Expires 2035-10-01

F1 · derivative.exercise_date: This option grant is an annual stock option grant under the Issuer's Non-Employee Director Compensation Policy and the Issuer's 2024 Equity Incentive Plan (the "2024 Plan") and shall fully vest on October 1, 2026, subject to the Reporting Person providing continuous service to the Issuer on such date. In addition, the shares underlying the options are subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001415889-25-019586 · form4-07092025_090745.xml · derivative · entry 1

Jahr Robert Charles · CIK 0002076177 · Chief Executive Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 800,000

Underlying: Common Stock · 800,000 shares

Expires 2035-07-01

F1 · derivative.exercise_date: 25% of the shares subject to the option will vest on July 1, 2026, with the remaining shares vesting in 36 equal monthly installments over the following three (3) years, subject to the Reporting Person's Continuous Service to the Issuer through each such vesting date.

SEC source: 0000947871-25-000571 · ownership.xml · derivative · entry 2

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 8,571,428

Underlying: Common Stock · 8,571,428 shares

Expires 2030-05-27

F1 · kind: Acquired in an underwritten public offering, pursuant to which Outlook Therapeutics, Inc. (the "Issuer") sold shares of common stock, and, for each such share of common stock, accompanying warrants to purchase two shares of common stock, at a purchase price of $1.40 per share and accompanying warrant.

F1 · price: Acquired in an underwritten public offering, pursuant to which Outlook Therapeutics, Inc. (the "Issuer") sold shares of common stock, and, for each such share of common stock, accompanying warrants to purchase two shares of common stock, at a purchase price of $1.40 per share and accompanying warrant.

F2 · ownership.nature: These securities are held of record by GMS Ventures and Investments ("GMS Ventures"). Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000947871-25-000571 · ownership.xml · nonDerivative · entry 1

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 13,552,359

F1 · kind: Acquired in an underwritten public offering, pursuant to which Outlook Therapeutics, Inc. (the "Issuer") sold shares of common stock, and, for each such share of common stock, accompanying warrants to purchase two shares of common stock, at a purchase price of $1.40 per share and accompanying warrant.

F2 · ownership.nature: These securities are held of record by GMS Ventures and Investments ("GMS Ventures"). Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F3 · ownership.nature: By virtue of the relationships described above in Footnote 2, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0001415889-25-003258 · form4-02062025_090213.xml · derivative · entry 1

Sukhtian Faisal Ghiath · CIK 0001716033 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,323

Underlying: Common Stock · 12,323 shares

Expires 2035-02-04

F1 · derivative.exercise_date: The shares underlying the option shall vest in three (3) equal installments on each of March 31, 2025, June 30, 2025 and September 30, 2025, subject to the Optionholder's Continuous Service to the Issuer through such vesting date.

SEC source: 0000947871-25-000062 · ownership.xml · derivative · entry 5

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 3,458,571

Underlying: Common Stock · 3,458,571 shares

Expires not disclosed

F1 · price: Pursuant to the terms of a warrant exercise inducement offer letter agreement, dated as of January 16, 2025, by and between Outlook Therapeutics, Inc. (the "Issuer") and GMS Ventures and Investments ("GMS Ventures"), GMS Ventures agreed to exercise its existing warrant to purchase shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), at a reduced exercise price of $2.51 per share in exchange for the Issuer's agreement to issue new warrants to purchase 6,917,142 shares of Common Stock.

F2 · derivative.exercise_date: This warrant will be exercisable upon the effective date (the "Effective Date") of an amendment to the Issuer's Certificate of Incorporation increasing the number of authorized shares of Common Stock issuable thereunder and will expire five years following the Effective Date.

F2 · derivative.expiration_date: This warrant will be exercisable upon the effective date (the "Effective Date") of an amendment to the Issuer's Certificate of Incorporation increasing the number of authorized shares of Common Stock issuable thereunder and will expire five years following the Effective Date.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000947871-25-000062 · ownership.xml · derivative · entry 4

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 3,458,571

Underlying: Common Stock · 3,458,571 shares

Expires 2030-01-17

F1 · price: Pursuant to the terms of a warrant exercise inducement offer letter agreement, dated as of January 16, 2025, by and between Outlook Therapeutics, Inc. (the "Issuer") and GMS Ventures and Investments ("GMS Ventures"), GMS Ventures agreed to exercise its existing warrant to purchase shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), at a reduced exercise price of $2.51 per share in exchange for the Issuer's agreement to issue new warrants to purchase 6,917,142 shares of Common Stock.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000947871-25-000062 · ownership.xml · derivative · entry 3

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Common Stock · 3,458,571 shares

Expires 2029-03-18

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Pursuant to the terms of a warrant exercise inducement offer letter agreement, dated as of January 16, 2025, by and between Outlook Therapeutics, Inc. (the "Issuer") and GMS Ventures and Investments ("GMS Ventures"), GMS Ventures agreed to exercise its existing warrant to purchase shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), at a reduced exercise price of $2.51 per share in exchange for the Issuer's agreement to issue new warrants to purchase 6,917,142 shares of Common Stock.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000947871-25-000062 · ownership.xml · derivative · entry 2

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 3,458,571

Underlying: Common Stock · 3,458,571 shares

Expires 2029-03-18

F1 · price: Pursuant to the terms of a warrant exercise inducement offer letter agreement, dated as of January 16, 2025, by and between Outlook Therapeutics, Inc. (the "Issuer") and GMS Ventures and Investments ("GMS Ventures"), GMS Ventures agreed to exercise its existing warrant to purchase shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), at a reduced exercise price of $2.51 per share in exchange for the Issuer's agreement to issue new warrants to purchase 6,917,142 shares of Common Stock.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000947871-25-000062 · ownership.xml · derivative · entry 1

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 0

Underlying: Common Stock · 3,458,571 shares

Expires 2029-03-18

F1 · price: Pursuant to the terms of a warrant exercise inducement offer letter agreement, dated as of January 16, 2025, by and between Outlook Therapeutics, Inc. (the "Issuer") and GMS Ventures and Investments ("GMS Ventures"), GMS Ventures agreed to exercise its existing warrant to purchase shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), at a reduced exercise price of $2.51 per share in exchange for the Issuer's agreement to issue new warrants to purchase 6,917,142 shares of Common Stock.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0000947871-25-000306 · ownership.xml · nonDerivative · entry 1

Sukhtian Ghiath M. · CIK 0001717441 · Director · 10% owner

GMS Ventures & Investments · CIK 0001804598 · Director · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnote

Disclosed balance after: 9,266,645

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: On January 22, 2025, the Reporting Persons filed a Form 4 reporting the exercise of certain warrants to purchase shares of the Issuer's common stock. This amendment is being filed to report the receipt of shares of the Issuer's common stock upon the exercise of such warrants and to correct the date of earliest transaction reported.

F2 · kind: Pursuant to the terms of a warrant exercise inducement offer letter agreement, dated as of January 16, 2025, by and between Outlook Therapeutics, Inc. (the "Issuer") and GMS Ventures and Investments ("GMS Ventures"), GMS Ventures agreed to exercise its existing warrant to purchase shares of the Issuer's common stock, par value $0.01 per share (the "Common Stock"), at a reduced exercise price of $2.51 per share in exchange for the Company's agreement to issue new warrants to purchase 6,917,142 shares of Common Stock.

F3 · ownership.nature: These securities are held of record by GMS Ventures. Ghiath M. Sukhtian ("Ghiath Sukhtian"), a natural person, is the holder of a controlling interest in GMS Ventures. GMS Ventures has designated two representatives to serve on the Issuer's board of directors. Therefore, each of GMS Ventures and Ghiath Sukhtian may be deemed a director by deputization.

F4 · ownership.nature: By virtue of the relationships described above in Footnote 3, Ghiath Sukhtian may be deemed to have voting and investment power with respect to the securities held by GMS Ventures noted above and as a result may be deemed to beneficially own such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Reporting Persons disclaim beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons are the beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

SEC source: 0001415889-24-024707 · form4-10032024_081013.xml · derivative · entry 3

Huang Andong · CIK 0001815678 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,984

Underlying: Common Stock · 10,984 shares

Expires 2034-10-03

F3 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $50,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2025, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001415889-24-024706 · form4-10032024_081011.xml · derivative · entry 3

Auffarth Gerd · CIK 0001649867 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,082

Underlying: Common Stock · 12,082 shares

Expires 2034-10-03

F3 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $55,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2025, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001415889-24-024702 · form4-10032024_081003.xml · derivative · entry 3

HILZINGER KURT J · CIK 0001191504 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 18,672

Underlying: Common Stock · 18,672 shares

Expires 2034-10-03

F3 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $85,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2025, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.

SEC source: 0001415889-24-024708 · form4-10032024_081015.xml · derivative · entry 3

Haller Julia A · CIK 0001656082 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,082

Underlying: Common Stock · 12,082 shares

Expires 2034-10-03

F3 · derivative.exercise_date: The options were granted under the 2024 Plan in lieu of $55,000 cash fees payable under the Issuer's Non-Employee Director Compensation Policy and vest in four equal quarterly installments on the last day of each fiscal quarter such that they are vested in full on September 30, 2025, subject to the Reporting Person providing continuous service to the Issuer on such date and subject to acceleration upon a Change in Control as defined in the 2024 Plan, subject to the Reporting Person providing continuous service to the Issuer immediately prior to such Change in Control.