SCHEDULE: Dermata Therapeutics: Proehl's 17.3% Stake Update

Gerald T. Proehl, President and CEO of Dermata Therapeutics, Inc., updated his beneficial ownership to 17.3% of the company's common stock.

Summary

• Gerald T. Proehl, President and Chief Executive Officer of Dermata Therapeutics, Inc., filed Amendment No. 10 to his Schedule 13D.
• Mr. Proehl beneficially owns an aggregate of 694,687 shares of Common Stock.
• This ownership represents 17.3% of the Issuer's Common Stock outstanding, based on 4,022,143 shares outstanding as of February 23, 2026.
• His beneficial ownership includes 24 shares of Common Stock and stock options to purchase 1,874 shares held directly.
• Proehl Investment Ventures LLC (PIV) holds 79,950 shares of Common Stock and 11 shares underlying warrants exercisable within 60 days.
• An additional 612,828 shares of Common Stock are held in trusts for which Mr. Proehl is trustee.
• Excluded from the current beneficial ownership calculation are 40,959 shares underlying stock options and 1,059,132 shares underlying warrants that are not exercisable within 60 days.
• There have been no purchases or sales of Common Stock or convertible securities by Mr. Proehl or entities under his control since Amendment No. 8, filed on January 8, 2026.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, as the CEO maintains a significant ownership stake without any reported sales, indicating continued alignment with shareholder interests.

Positives

• A significant insider, the President and CEO, maintains a substantial ownership stake of 17.3% in the company, aligning management's interests with shareholders.
• No sales of shares by the reporting person or associated entities have occurred since the last significant amendment, indicating continued holding and confidence.

Future Outlook

This filing does not contain forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that a significant insider stake, particularly from the President and CEO, can often be interpreted by the market as a sign of confidence in the company's future prospects, aligning management's interests with those of shareholders. This is a routine update for beneficial ownership.

Comparison to Industry Standards

• This filing is a standard Schedule 13D amendment, a regulatory requirement for individuals or groups acquiring more than 5% beneficial ownership in a public company.
• The 17.3% stake held by the CEO is a substantial insider position, often viewed positively compared to companies where management holds minimal equity.
• For example, in biotech, it is not uncommon for founders or key executives to maintain significant stakes, such as Moderna's CEO Stéphane Bancel holding a notable percentage, or similar figures in smaller, development-stage biopharmaceutical companies like Dermata Therapeutics, where insider conviction is crucial.

Related Party Transactions

• Shares of Common Stock and warrants are held by Proehl Investment Ventures LLC (PIV), an entity associated with Mr. Proehl.
• Shares of Common Stock are held in trusts for which Mr. Proehl serves as trustee.

Stakeholder Impact

• Shareholders: The maintenance of a significant insider stake by the CEO may instill confidence in the company's leadership and future direction.

Key Dates

Recommendation

This filing is a routine beneficial ownership update for the CEO and does not contain new information that would fundamentally alter the investment thesis for Dermata Therapeutics. The CEO's continued significant stake is a positive sign of alignment, but without additional operational or financial news, a 'hold' recommendation is appropriate for existing investors, while new investors would need to consider broader company fundamentals.

Keywords

Dermata Therapeutics, Gerald T. Proehl, Schedule 13D, Beneficial Ownership, Common Stock, Insider Ownership, Equity Stake, DTX