aibioPetros grants 7,000,000 restricted shares to directors and officers
Tickers PTPI
The board approved restricted share awards on June 5, 2026, to the chairman, two directors and the president and chief commercial officer.
Key facts
- Company
- Petros Pharmaceuticals, Inc. (OTC: PTPI)
- News type
- Company Updates
- Primary source
- Petros Pharmaceuticals, Inc. 8-K (2026-06-05)
On June 5, 2026, the board of directors of Petros Pharmaceuticals, Inc. (OTC: PTPI) approved grants of an aggregate of 7,000,000 restricted shares of common stock, par value $0.0001 per share, effective on that date. The company reported the grants in a Form 8-K dated June 5, 2026 under Item 5.02.
Who received the awards
The recipients are Joshua Silverman, the chairman of the board, who received 4,375,000 restricted shares. Bruce Bernstein, a director, received 1,875,000 restricted shares. Fady Boctor, president and chief commercial officer, received 375,000 restricted shares. Wayne Walker, also a director, received 375,000 restricted shares.
Vesting and plan terms
Half of each award vested on the grant date. The remaining 50% vests on the six-month anniversary of the grant date, provided the recipient is still providing services to the company on that date. The company said the awards were issued outside its Amended and Restated 2020 Omnibus Incentive Compensation Plan, and are subject to the terms of its form of Restricted Stock Award Agreement.
Company background
Petros was incorporated in Delaware on May 14, 2020. Before June 2025 it operated through subsidiaries that commercialized Stendra, a prescription erectile dysfunction medication licensed from Vivus, Inc., and vacuum erection devices. The company decided in December 2024 to discontinue Stendra sales to wholesalers, and it has not engaged in commercializing Stendra since March 2025. On June 16, 2025, the subsidiaries completed an assignment for the benefit of creditors that transferred their assets to a special purpose vehicle, so Petros no longer markets those devices.
Petros is pursuing a technology platform intended to help drug makers switch prescription products to over-the-counter status and to support consumer self-selection. The 10-K describes the platform as having a software-as-a-service component and a potential software as a medical device component, and says it is in early development stages.
The platform is expected to serve as a digital hosting solution for pharmaceutical companies, offering secure data exchanges, regulatory compliance management, labeling and usage guidance and market access optimization. The company says the platform will be anchored in recent FDA rules, including the rule on nonprescription drug products with an additional condition for nonprescription use, and in the Trusted Exchange Framework and Common Agreement.
Financial position
The XBRL financial data show revenue of $5.1 million in 2024 and research and development expense of $2.6 million in 2024. The company reported net income of $1.9 million for 2025, against a net loss of $14.3 million for 2024. Cash used in operations was $6.7 million in 2025 and $2.6 million in 2024. Year-end cash and cash equivalents were $1.7 million at the end of 2024.
The risks ahead
The 7,000,000 restricted shares are common stock issued outside the company's 2020 omnibus plan, and all of them go to the chairman, two directors and the president. Half of each award vested on the grant date. The other half vests six months after the grant if the recipient is still serving. Petros no longer sells Stendra or its vacuum devices, and the 10-K describes the replacement platform as in early development stages. Cash used in operations was $6.7 million in 2025 and $2.6 million in 2024. Net income of $1.9 million for 2025 followed a net loss of $14.3 million for 2024, and the data list no 2025 revenue figure.