[Form 4] Amneal Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Andrew S. Boyer, Executive Vice President of Amneal Pharmaceuticals (AMRX), reported insider transactions executed on 08/20/2025. He exercised 175,000 stock options at a $2.75 exercise price, acquiring 175,000 Class A common shares. On the same date he sold 279,244 Class A common shares at a weighted average price of $9.38, with sale prices ranging from $9.30 to $9.40 per share.

After these transactions the Form 4 shows Mr. Boyer beneficially owned 431,670 Class A shares before the sale line and 152,426 Class A shares following the sale line, and held 97,480 options (derivative securities) after the reported option exercise. The filing was signed by an attorney-in-fact on 08/22/2025 and notes the exercised options were fully vested.

Positive

• Exercise of 175,000 fully vested options at a $2.75 strike, demonstrating realization of option value
• Full disclosure of sale price range (sales between $9.30 and $9.40) and weighted average price $9.38

Negative

• Significant share sale of 279,244 shares reduced reported direct beneficial ownership to 152,426 Class A shares
• Large insider liquidity event could be viewed as increased insider selling despite option exercise

Insights

Financial Analyst

TL;DR: Insider exercised a large number of vested options at a low strike and sold a larger block of shares the same day.

The filing documents a simultaneous option exercise and significant share sale by an executive. Exercising 175,000 options at a $2.75 strike realizes intrinsic value when shares trade near the reported sale prices of $9.30–$9.40. The disclosed weighted average sale price is $9.38. The net effect was a reduction in reported direct beneficial ownership to 152,426 Class A shares while leaving 97,480 options recorded post-transaction. These are routine Section 16 transactions but materially large in share count and thus relevant to investors tracking insider liquidity.

Corporate Governance Expert

TL;DR: Transaction is documented and signed by attorney-in-fact; options are fully vested per the filer.

The Form 4 includes necessary disclosures: transaction codes, prices, quantities, and a footnote clarifying the weighted-average sale price range. The filing states the exercised options are fully vested, reducing potential questions about timing relative to vesting. The signature by an attorney-in-fact is properly noted with date 08/22/2025. No amendments or additional restrictive details are provided in this filing.

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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hours per response:			0.5

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^*

BOYER ANDREW S

(Last) (First) (Middle)

C/O AMNEAL PHARMACEUTICALS, INC.

(Street)

BRIDGEWATER NJ 08807

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Amneal Pharmaceuticals, Inc. [ AMRX ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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
Class A Common Stock	08/20/2025		M		175,000	A	$2.75	431,670	D
Class A Common Stock	08/20/2025		S		279,244	D	$9.38(1)	152,426	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
Stock Option	$2.75	08/20/2025		M			175,000	(2)	(2)	Class A Common Stock	175,000	$0	97,480	D

Explanation of Responses:

1. The price included in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.30 to $9.40 per share, inclusive. The Reporting Person undertakes to provide to Amneal Pharmaceuticals, Inc. 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 the footnote.

2. These options are fully vested.

Remarks:

	/s/ Denis Butkovic, Attorney-in-Fact	08/22/2025
	** 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 transactions did Andrew S. Boyer report on Form 4 for AMRX?

He reported exercising 175,000 options at a $2.75 exercise price and selling 279,244 Class A shares at a weighted average price of $9.38 on 08/20/2025.

How many shares did Mr. Boyer beneficially own after the reported transactions?

The filing shows 152,426 Class A shares beneficially owned following the reported sale line and 97,480 derivative securities reported as beneficially owned after the option transactions.

Were the exercised options vested according to the filing?

Yes. The Form 4 includes a footnote stating these options are fully vested.

What was the price range for the share sales reported?

The shares were sold in multiple transactions at prices ranging from $9.30 to $9.40 per share; the weighted average price reported is $9.38.

Who signed the Form 4 and when?

The Form 4 was signed by an attorney-in-fact, /s/ Denis Butkovic, on 08/22/2025.