Funds tied to ADMA (NASDAQ: ADMA) director add 14,000 shares

Rhea-AI Filing Summary

ADMA Biologics director-affiliated funds reported open-market purchases of common stock. Entities associated with director Steve Elms bought a total of 14,000 ADMA shares, with 7,000 shares purchased on March 5, 2026 at a weighted average price of $15.67 per share and 7,000 shares on March 6, 2026 at a weighted average price of $15.39 per share.

The filing notes these shares are held by Aisling Capital II LP and Aisling Arcturus Partners, LP, and that Mr. Elms may be deemed a beneficial owner through his roles at Aisling entities while disclaiming beneficial ownership except to the extent of his pecuniary interest. Following these transactions, Aisling-related entities reported 2,045,730 shares, while Mr. Elms also directly holds 87,330 shares and 10,690 restricted stock units that are scheduled to fully vest on February 9, 2027, subject to continued service.

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

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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^*

ELMS STEVE

(Last) (First) (Middle)

C/O AISLING CAPITAL MANAGEMENT LP

489 FIFTH AVENUE, 10TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ADMA BIOLOGICS, INC. [ ADMA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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
Common Stock	03/05/2026		P		7,000(1)(2)	A	$15.67	2,038,730	I	See footnote(3)
Common Stock	03/06/2026		P		7,000(2)(4)	A	$15.39	2,045,730	I	See footnote(3)
Common Stock								98,020(5)	D

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

Explanation of Responses:

1. The reported transaction reflects the open market purchase of shares of ADMA Biologics, Inc. (the "Issuer") common stock. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.58 to $15.74, inclusive.

2. The reporting person undertakes to provide to the Issuer, any securityholder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (4) to this Form 4.

3. Includes (i) 2,031,730 shares owned by Aisling Capital II LP, which is a fund that was established in 2007 with a 10 year life ("Aisling Capital"), and (ii) 14,000 shares owned by Aisling Arcturus Partners, LP ("Aisling Arcturus" and, together with Aisling Capital, "Aisling"), of which 7,000 were purchased on March 5, 2026 and 7,000 were purchased on March 6, 2026. Mr. Elms is Aisling Capital's designee for nomination to the Board. As a Managing Member of Aisling Capital Partners, LLC ("Aisling Partners"), a control person of Aisling, and as a member of the investment committee of Aisling Capital Partners, LP ("Aisling GP"), Mr. Elms may be deemed to be the beneficial owner of shares of common stock owned of record by Aisling. Mr. Elms disclaims beneficial ownership of the Issuer's shares owned by Aisling and Aisling Partners' ownership of the Issuer's options, except to the extent of his pecuniary interest therein.

4. The reported transaction reflects the open market purchase of shares of the Issuer's common stock. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.35 to $15.42, inclusive.

5. Includes, as of the transaction date, (i) 10,690 restricted stock units granted on February 9, 2026, which will fully vest on February 9, 2027, subject to the Reporting Person's continued service as of such vesting date; and (ii) 87,330 shares of common stock owned by the Reporting Person.

	/s/ Steve Elms, by Michael A. Goldstein as Attorney-in-fact	03/09/2026
	** 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.
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FAQ

What insider transactions did ADMA director Steve Elms report on this Form 4 for ADMA?

The Form 4 reports two open-market purchases totaling 14,000 ADMA Biologics common shares by entities associated with director Steve Elms. They bought 7,000 shares on March 5, 2026 and 7,000 shares on March 6, 2026 at weighted average prices around the mid-$15 range.

At what prices were the 14,000 ADMA shares purchased in the March 2026 insider buys?

The affiliated funds purchased 7,000 ADMA shares at $15.67 per share on March 5, 2026 and 7,000 shares at $15.39 per share on March 6, 2026. Footnotes explain these are weighted averages across multiple trades within narrow intraday price ranges.

Which entities actually hold the ADMA shares reported in Steve Elms’s Form 4 filing?

The filing states the reported holdings include 2,031,730 shares owned by Aisling Capital II LP and 14,000 shares owned by Aisling Arcturus Partners, LP. These are investment funds associated with Aisling, rather than shares held directly in Steve Elms’s personal name.

How does the Form 4 describe Steve Elms’s beneficial ownership of ADMA shares held by Aisling?

The document says Steve Elms, through roles at Aisling entities, may be deemed a beneficial owner of shares held by Aisling. However, he disclaims beneficial ownership of those shares and Aisling Partners’ option holdings, except to the extent of his pecuniary interest.

What direct ADMA equity awards and holdings does Steve Elms have according to this Form 4?

The filing notes that, as of the transaction date, Steve Elms directly holds 87,330 ADMA common shares and 10,690 restricted stock units. Those restricted stock units were granted on February 9, 2026 and are scheduled to fully vest on February 9, 2027, subject to continued service.

How many ADMA shares are reported in total for Aisling-related entities after these insider purchases?

After the March 2026 purchases, Aisling-related entities are reported as holding 2,045,730 ADMA shares in total. This includes 2,031,730 shares owned by Aisling Capital II LP and 14,000 shares owned by Aisling Arcturus Partners, LP, reflecting the newly acquired 14,000 shares.