CFO of Aardvark Therapeutics (AARD) granted 70,549 stock options at $13.48

Rhea-AI Filing Summary

Aardvark Therapeutics, Inc. reported that Chief Financial Officer Nelson Sun received a new stock option grant. On February 9, 2026, he was granted an option to buy 70,549 shares of common stock at an exercise price of $13.48 per share.

According to the vesting terms, one quarter of these option shares vest on February 9, 2027, with the remaining three quarters vesting in equal monthly installments over the following three years, so long as he remains in continuous service. After this grant, he beneficially owns 70,549 derivative securities directly.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sun Nelson

(Last) (First) (Middle)

C/O AARDVARK THERAPEUTICS, INC.

4370 LA JOLLA VILLAGE DRIVE, SUITE 1050

(Street)

SAN DIEGO CA 92122

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aardvark Therapeutics, Inc. [ AARD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock option (right to buy)	$13.48	02/09/2026		A			70,549	(1)	02/09/2036	Common Stock	70,549	$0.00	70,549	D

Explanation of Responses:

1. 1/4th of the shares subject to the option shall vest on February 9, 2027, and 1/48th of the shares subject to the option shall vest in monthly installments thereafter, subject to the Reporting Person's continuous service through each vesting date, inclusive.

	/s/ Nelson Sun	02/11/2026
	** 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 4 (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.

FAQ

What insider transaction did Aardvark Therapeutics (AARD) report for Nelson Sun?

Aardvark Therapeutics reported that CFO Nelson Sun received a stock option grant for 70,549 shares. The option allows him to buy common stock at an exercise price of $13.48 per share, subject to a multi-year vesting schedule tied to continued service.

What are the vesting terms of Nelson Sun’s new AARD stock options?

The option vests over four years. 25% of the 70,549 shares vest on February 9, 2027, and the remaining 75% vest in equal monthly installments thereafter, provided Nelson Sun maintains continuous service with Aardvark Therapeutics through each vesting date.

How many Aardvark Therapeutics derivative securities does Nelson Sun own after this Form 4?

Following the reported transaction, Nelson Sun beneficially owns 70,549 derivative securities directly. These represent stock options to purchase Aardvark Therapeutics common stock, all arising from the February 9, 2026 grant disclosed in the Form 4 filing.

What type of security was granted to Aardvark Therapeutics CFO Nelson Sun?

He received a stock option (right to buy) security. This option entitles him to purchase up to 70,549 shares of Aardvark Therapeutics common stock at a fixed exercise price of $13.48 per share, subject to the stated vesting schedule.

When do Nelson Sun’s Aardvark Therapeutics stock options expire?

The stock options granted to Nelson Sun on February 9, 2026 expire on February 9, 2036. He may exercise vested portions of the 70,549-share option at $13.48 per share any time before this expiration date, subject to plan and agreement terms.

Is Nelson Sun’s ownership in Aardvark Therapeutics direct or indirect after this grant?

After the grant, Nelson Sun’s beneficial ownership of the 70,549 stock options is reported as direct. The Form 4 lists the ownership form as “D,” indicating he holds these derivative securities in his own name rather than through an intermediary entity.