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

Rhea-AI Filing Summary

Aardvark Therapeutics Chief Medical Officer receives stock option grant. Chief Medical Officer Manasi Jaiman was granted a stock option to buy 70,549 shares of Aardvark Therapeutics common stock at an exercise price of $13.48 per share on February 9, 2026.

The option vests over four years: one-quarter of the shares vest on February 9, 2027, and the remaining shares vest in equal monthly installments thereafter, subject to continued service. Following this grant, 70,549 derivative securities are beneficially owned 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^*

Jaiman Manasi

(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 Medical 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, as Attorney-in-Fact	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 AARD report in this Form 4?

Aardvark Therapeutics reported a stock option grant to Chief Medical Officer Manasi Jaiman covering 70,549 shares of common stock at a $13.48 exercise price. This represents an equity-based compensation award rather than an open-market purchase or sale of shares.

Who received stock options in Aardvark Therapeutics (AARD)?

Chief Medical Officer Manasi Jaiman received a stock option grant from Aardvark Therapeutics. The award covers 70,549 shares of common stock, exercisable at $13.48 per share, and is reported as directly owned derivative securities following the transaction on February 9, 2026.

How many AARD shares are covered by the reported stock option grant?

The reported stock option grant covers 70,549 shares of Aardvark Therapeutics common stock. All 70,549 derivative securities are shown as beneficially owned directly after the transaction, subject to the option’s four-year vesting schedule starting in February 2027.

What is the exercise price of the AARD stock options granted?

The exercise price of the stock option grant is $13.48 per share. This is the price at which the Chief Medical Officer can purchase Aardvark Therapeutics common stock once the option vests and is exercisable under the award’s terms.

What is the vesting schedule for the AARD stock option grant?

One-quarter of the option shares vest on February 9, 2027, with the remaining shares vesting in equal monthly installments thereafter. Vesting is conditioned on the reporting person’s continuous service through each vesting date, creating a four-year equity incentive structure.

Is the AARD Form 4 transaction a purchase or a grant of options?

The Form 4 reflects a grant of stock options, not an open-market share purchase. It is coded as an acquisition (transaction code A) representing a grant, award, or other acquisition of derivative securities as compensation, with 70,549 options reported as beneficially owned afterward.