Akari Therapeutics' Patel exercises pre-funded warrants
The RSU awards vest in full upon shareholder approval, while the option awards follow separate approval-dependent vesting schedules.
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Form Type
4
Rhea-AI Filing Summary
Akari Therapeutics Plc (AKTX) director Sandip I. Patel reported exercising pre-funded warrants covering 3,866 ADSs and 6,186 ADSs on October 14, 2026, at an exercise price of $0.0004 per ADS. He also reported awards of RSUs representing 12,100 ADSs on August 18, 2026, and 4,313 ADSs on October 5, 2026, granted in lieu of accrued but unpaid cash retainers under the issuer’s remuneration policy. The RSUs are subject to forfeiture if shareholder approval of a proposed equity-plan amendment is not obtained and vest in full upon approval. Patel also received options to purchase 45,000 ADSs and 15,000 ADSs on August 18, 2026, each with a $7.8990 exercise price and an expiration date of August 18, 2036. Both option grants are subject to forfeiture if shareholder approval is not obtained and have separate vesting schedules.
Insider Trade Summary
10,052 shares exercised/converted
Exercise
8 txns
Insider
Patel Sandip I
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Pre-Funded Warrant to Purchase ADSs F8, F10, F6, F7 | 3,866 | $16.16 | $62K |
| Exercise | Pre-Funded Warrant to Purchase ADSs F9, F10, F6, F7 | 6,186 | $16.16 | $100K |
| Exercise | American Depositary Shares representing Ordinary Shares | 3,866 | $0.0004 | $1.55 |
| Exercise | American Depositary Shares representing Ordinary Shares | 6,186 | $0.0004 | $2.47 |
| Grant/Award | American Depositary Shares representing Ordinary Shares F2, F3 | 4,313 | $7.899 | $34K |
| Grant/Award | Stock Option (Right to Buy) F4 | 45,000 | $0.00 | $0.00 |
| Grant/Award | Stock Option (Right to Buy) F5 | 15,000 | $0.00 | $0.00 |
| Grant/Award | American Depositary Shares representing Ordinary Shares F1, F3 | 12,100 | $7.899 | $96K |
Holdings After Transaction:
Stock Option (Right to Buy) — 60,000 contracts (Direct);
Pre-Funded Warrant to Purchase ADSs — 0 contracts (Direct);
American Depositary Shares representing Ordinary Shares — 38,877 shares (Direct)
Footnotes (10)
- F1. These American Depositary Shares ("ADSs") represent restricted stock units ("RSUs"), with each such RSU representing the right to receive 80,000 ordinary shares with a par value of $0.000000005 per ordinary share. This RSU grant was approved by the Board of Directors of the Issuer on August 18, 2026, and is subject to forfeiture if shareholder approval of a proposed amendment to the Issuer's equity incentive plan to increase the number of shares reserved for issuance under the plan ("Shareholder Approval") is not obtained. The RSUs will vest in full on the date of Shareholder Approval.
- F2. These ADSs represent RSUs, with each such RSU representing the right to receive 80,000 ordinary shares with a par value of $0.000000005 per ordinary share. This RSU grant was approved by the Board of Directors of the Issuer on October 5, 2026, and is subject to forfeiture if Shareholder Approval is not obtained. The RSUs will vest in full on the date of Shareholder Approval.
- F3. This award of RSUs was granted in lieu of accrued but unpaid cash retainers payable to non-execute directors in accordance with the Issuer's remuneration policy.
- F4. On August 18, 2026, the Reporting Person was granted an option to purchase 45,000 ADSs. This option grant is subject to forfeiture if Shareholder Approval is not obtained. The option will vest with respect to 33% of the grant on the date of Shareholder Approval plus 2.91% for each one-month anniversary of August 18, 2026 that has elapsed before the date of Shareholder Approval. The remainder of the option grant will vest in equal, monthly installments beginning on the 18th day of the month subsequent to the month where Shareholder Approval was obtained until fully vested on the two-year anniversary of August 18, 2026, subject to the Reporting Person's continued service with the Issuer on each such vesting date.
- F5. On August 18, 2026, the Reporting Person was granted an option to purchase 15,000 ADSs. This option grant is subject to forfeiture if Shareholder Approval is not obtained. Beginning on the date of Shareholder Approval, this option will vest with respect to 8.33% of the grant on the date of Shareholder Approval plus 8.33% for each one-month anniversary of August 18, 2026 that has elapsed before the date of Shareholder Approval. The remainder of the option grant will vest in equal, monthly installments beginning on the 18th day of the month subsequent to the month where Shareholder Approval was obtained until fully vested on the one-year anniversary of August 18, 2026, subject to the Reporting Person's continued service with the Issuer on each such vesting date.
- F6. The pre-funded warrants became exercisable upon shareholder approval, which was obtained on March 2, 2026.
- F7. The pre-funded warrants remain exercisable until fully exercised.
- F8. On December 16, 2025, the Reporting Person and the Issuer entered into a note cancellation and exchange agreement, pursuant to which, in exchange for the entire outstanding principal amount and all accrued interest on the Issuer's unsecured promissory note held by the Reporting Person, the Issuer issued to the Reporting Person (i) pre-funded warrants (the "Note Exchange Unregistered Pre-Funded Warrants") to purchase up to 3.866 ADSs, at a purchase price of $16.16 per Note Exchange Unregistered Pre-Funded Warrant, and (ii) warrants to purchase up to 3,866 ADSs.
- F9. On December 16, 2025, the Reporting Person and the Issuer entered into a securities purchase agreement, pursuant to which the Issuer issued to the Reporting Person (i) pre-funded warrants (the "Private Placement Pre-Funded Warrants") to purchase up to 6,186 ADSs, at a purchase price of $16.16 per Private Placement Pre-Funded Warrant, and (ii) warrants to purchase up to 6,186 ADSs.
- F10. The combined purchase price per one pre-funded warrant and accompanying warrant was $16.16.
Key Figures
ADSs underlying exercised pre-funded warrants: 3,866 ADSs
ADSs underlying exercised pre-funded warrants: 6,186 ADSs
Exercise price: $0.0004 per ADS
+5 more
8 metrics
ADSs underlying exercised pre-funded warrants
3,866 ADSs
October 14, 2026
ADSs underlying exercised pre-funded warrants
6,186 ADSs
October 14, 2026
Exercise price
$0.0004 per ADS
Pre-funded warrant exercises on October 14, 2026
ADSs represented by RSUs
12,100 ADSs
Awarded August 18, 2026; subject to shareholder approval
ADSs represented by RSUs
4,313 ADSs
Awarded October 5, 2026; subject to shareholder approval
ADSs subject to options
45,000 ADSs
Option grant dated August 18, 2026
ADSs subject to options
15,000 ADSs
Option grant dated August 18, 2026
Option exercise price
$7.8990 per ADS
Option grants dated August 18, 2026
Key Terms
pre-funded warrants, restricted stock units ("RSUs"), equity incentive plan, vest
4 terms
pre-funded warrants financial
"The pre-funded warrants became exercisable upon shareholder approval"
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
restricted stock units ("RSUs") financial
"These American Depositary Shares ("ADSs") represent restricted stock units ("RSUs")"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
equity incentive plan technical
"proposed amendment to the Issuer's equity incentive plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
vest financial
"This option will vest with respect to 33% of the grant"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many AKTX ADSs did Sandip I. Patel acquire by exercising pre-funded warrants?
On October 14, 2026, Patel exercised pre-funded warrants covering 3,866 ADSs and 6,186 ADSs, at an exercise price of $0.0004 per ADS. The warrants became exercisable upon shareholder approval, which was obtained on March 2, 2026.
How do Sandip I. Patel’s AKTX options vest?
The 45,000-option grant vests 33% on shareholder approval, plus 2.91% for each one-month anniversary of August 18, 2026, elapsed before approval; the remainder vests monthly until the two-year anniversary of August 18, 2026. The 15,000-option grant uses 8.33% on approval plus 8.33% for each elapsed monthly anniversary, with the remainder vesting monthly until the one-year anniversary. Both schedules require continued service on each vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
