SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

PYSZCZYMUKA GREG

(Last)

(First)

(Middle)

C/O AYTU BIOPHARMA, INC.

373 INVERNESS PARKWAY, SUITE 206

(Street)

ENGLEWOOD

80112

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
11/15/2022

3. Issuer Name and Ticker or Trading Symbol
AYTU BIOPHARMA, INC [ AYTU ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Commercial Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	82,056⁽¹⁾⁽²⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (Right to Buy)	⁽²⁾⁽³⁾	10/01/2032	Common Stock	140,625	$0.2	D
Restricted Stock Units	⁽²⁾⁽⁴⁾	03/31/2025	Common Stock	50,000	⁽²⁾⁽⁴⁾	D

Explanation of Responses:

1. Includes 50,003 unvested restricted shares granted on October 1, 2021. The initial grant was for 75,000 restricted shares, with one-third vesting on October 11, 2022. The remaining shares vest quarterly thereafter, at 1/12th of the original grant, with full vesting on October 11, 2024.

2. Full vesting is subject to continued service through each applicable vesting date.

3. The options were granted on October 1, 2022, and vest as follows: One-third of the options vest on October 1, 2023. The remaining options vest in equal monthly installments until fully vested on October 1, 2025.

4. Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock. The RSUs were granted on March 31, 2022, and vest as follows: One-third on March 31, 2023; 1/12th of the original grant quarterly thereafter through March 31, 2025. Settlement of vested RSUs will occur as soon as practicable following vesting.

Remarks:

Exhibit 24.1 Power of Attorney

	/s/ Mark Oki as attorney-in-fact for Greg Pyszczymuka	11/15/2022
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.