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

Rhea-AI Filing Summary

Insider sale disclosed on Form 4 for ANI Pharmaceuticals, Inc. (ANIP). The filing shows that Matthew J. Leonard, reported as a director, sold 2,528 shares of ANIP common stock on 08/25/2025 at a reported price of $90.62 per share. After the sale, Mr. Leonard beneficially owned 6,864 shares, reported as direct ownership. The Form 4 was signed by attorney-in-fact Meredith W. Cook on 08/26/2025. No derivative transactions or additional remarks are included in the filing.

Positive

• None.

Negative

• Director sale of 2,528 shares at $90.62 on 08/25/2025 reduced reported direct holdings to 6,864 shares.
• No disclosure in the filing that the transaction was made pursuant to a Rule 10b5-1 trading plan or other prearranged plan.

Insights

Financial Analyst

TL;DR: A company director executed a routine sale of shares, reducing direct holdings to 6,864 shares.

The Form 4 reports a single non-derivative transaction: a sale of 2,528 shares at $90.62 per share on 08/25/2025 by director Matthew J. Leonard. This is a straightforward insider disposition with no accompanying derivative activity or explanatory remarks. From an analyst perspective, the transaction provides a clear change in insider ownership but, standing alone, does not reveal corporate performance or intent. The filing does not indicate use of a rule 10b5-1 plan or other intent language, nor does it show additional related-party transactions.

Corporate Governance Expert

TL;DR: Director sale disclosed; documentation is complete but contains no governance or plan details.

The filing identifies Matthew J. Leonard as a director and records a disposition of 2,528 common shares, leaving 6,864 shares beneficially owned. The Form 4 is signed by an attorney-in-fact and contains no explanatory remarks or indication that the sale was pursuant to a pre-established trading plan. For governance review, the filing is standard and timely but offers no additional insights into compliance procedures or director intentions beyond the reported sale.

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
Estimated average burden
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^*

Leonard Matthew J

(Last) (First) (Middle)

C/O ANI PHARMACEUTICALS, INC.

210 MAIN STREET WEST

(Street)

BAUDETTE MN 56623

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ANI PHARMACEUTICALS INC [ ANIP ]

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)
08/25/2025

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
Common Stock	08/25/2025		S		2,528	D	$90.62	6,864	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:

Remarks:

	/s/ Matthew J. Leonard, by attorney-in-fact Meredith W. Cook	08/26/2025
	** 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 insider transaction did the Form 4 for ANIP report?

Matthew J. Leonard sold 2,528 shares of ANI Pharmaceuticals common stock on 08/25/2025 at a price of $90.62 per share.

How many ANIP shares does the reporting person own after the transaction?

6,864 shares beneficially owned following the reported sale, reported as direct ownership.

What is the reporting person's relationship to ANI Pharmaceuticals (ANIP)?

Matthew J. Leonard is reported as a director of ANI Pharmaceuticals on the Form 4.

Was the sale reported as part of a 10b5-1 trading plan?

The filing does not indicate that the transaction was made pursuant to a 10b5-1 plan; no such notation appears in the Form 4.

When was the transaction and when was the Form 4 signed?

Transaction date: 08/25/2025. Form signature date: 08/26/2025 signed by attorney-in-fact Meredith W. Cook.