AN2 Therapeutics, Inc. Reports Inducement Grants under Listing Rule 5635(c)(4)

AN2 Therapeutics details stock option and RSU inducement grants used to recruit its new Chief Medical Officer.

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MENLO PARK, Calif.--(BUSINESS WIRE)-- AN2 Therapeutics, Inc. (NASDAQ: ANTX), a clinical-stage biopharmaceutical company developing novel small molecule therapeutics derived from its boron chemistry platform, today announced it granted inducement equity awards to Cameron Trenor, M.D., the Company’s newly-appointed Chief Medical Officer.

The inducement awards consist of a non-qualified stock option to purchase 233,333 shares of the Company’s common stock and restricted stock units representing 116,667 shares of the Company’s common stock. The option has an exercise price of $5.36 per share, which is equal to the closing price of the Company’s common stock on the date of grant. The option has a 10-year term and will vest over four years, with 25% of the underlying shares vesting on the one-year anniversary of Dr. Trenor’s date of hire, or August 24, 2026, and the remainder vesting monthly for three years thereafter. 10,400 restricted stock units vest on January 1, 2027, with the remainder vesting in approximately three equal annual installments beginning January 1, 2028. Vesting is subject to the employee’s continued service with the Company through the applicable vesting dates.

The inducement awards were granted as a material inducement to the employee’s employment and were approved by AN2’s Compensation Committee with a grant date of September 15, 2026, in accordance with Rule 5635(c)(4) of The NASDAQ Stock Market LLC. The inducement awards were granted pursuant to AN2’s 2026 Employment Inducement Award Plan.

About AN2 Therapeutics

AN2 Therapeutics, Inc. is a clinical stage biopharmaceutical company focused on the discovery and development of novel small molecule therapeutics derived from our boron chemistry platform. Our development pipeline spans hematologic diseases, infectious diseases, and oncology with three Phase 2 studies expected to be active in 2026, two preclinical oncology candidates, as well as advanced research programs focused on targets in oncology, bone disorders, and infectious diseases. We are committed to delivering high-impact drugs to patients that address critical unmet needs and improve health outcomes.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260916973446/en/

COMPANY CONTACT:
Lucy O. Day
Chief Financial Officer
l.day@an2therapeutics.com

INVESTOR AND MEDIA CONTACT:
Anne Bowdidge
ir@an2therapeutics.com

Source: AN2 Therapeutics, Inc.

Key Terms

non-qualified stock option financial

A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.

restricted stock units financial

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.