A Form 4 filing with the Securities and Exchange Commission shows that Charles Thomas McMillen, a director of Castellum, Inc. (OTC:CTM), disposed of 30,000 shares of the company's common stock on March 25, 2026. The shares were sold at $0.7043 apiece, producing a total sale value of $21,129.
The sale occurred amid recent pressure on the stock. Over the prior week the share price had fallen 12.6%, and Castellum shares were trading at $0.62 at the time of the report - close to the 52-week low of $0.65. After completing the March 25 sale, McMillen directly holds 231,015 shares of Castellum common stock.
Market commentary referenced in the filing notes that certain valuation tools consider the stock undervalued at prevailing prices based on a Fair Value assessment. The referenced platform also provides a set of additional analytical suggestions for investors in CTM.
Beyond the insider transaction, Castellum has announced material improvements to its balance sheet and order flow. The company fully retired $400,000 of debt, which the company described as eliminating the remaining debt accrued during its acquisition phase. Following the debt retirement, Castellum reported having more than $14 million in cash on hand.
Those figures mark a notable shift from the company's position in July 2024, when it carried in excess of $11 million in debt and had approximately $2 million in cash. The change signals an improved liquidity profile relative to that prior period, based on the figures disclosed.
Operationally, Castellum's subsidiary Specialty Systems, Inc. (SSI) secured a $49.8 million contract to deliver software support services to the Naval Air Warfare Center Aircraft Division Lakehurst. This award represents the third consecutive contract that SSI has won to provide this support role.
In separate corporate news included in the filings, Canterra Minerals Corporation named Matt Manson to its board of directors. Manson is currently President and CEO of Radisson Mining Resources Inc. and brings more than 30 years of experience in the mining sector. His prior leadership roles have included positions guiding Marathon Gold Corporation through key project stages and serving as President and CEO of Stornoway Diamond Corporation.
The March 25 insider sale, the company's elimination of acquisition-related debt, the strengthened cash position, and the multi-year contract wins for SSI together present a mix of governance, financial and operational developments for investors monitoring Castellum and related small-cap issuers.