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

Rhea-AI Filing Summary

Jeanne A. Thoma, a director of ANI Pharmaceuticals, Inc. (ANIP), reported two open-market sales of the issuer's common stock on 08/18/2025. The Form 4 shows a sale of 6,865 shares at a weighted-average price of $89.76 and a sale of 14,675 shares at a weighted-average price of $88.87, both reported as direct beneficial ownership dispositions. The explanatory remarks state the first block traded between $89.75 and $89.90 and the second between $88.74 and $89.39; the signature date on the filing is 08/20/2025. The form lists post-transaction beneficial ownership of 38,080 shares and 23,405 shares on the respective lines, and indicates the reporting person files as an individual and is a director of the issuer.

Positive

• None.

Negative

• Insider sold a total of 21,540 shares on 08/18/2025 (6,865 and 14,675 shares) which reduces the director's direct holdings as reported on the Form 4
• No disclosure of a 10b5-1 plan or stated reason in the filing to explain the sales, leaving motive unspecified

Insights

Financial Analyst

TL;DR: Insider director sold 21,540 ANIP shares in two transactions at ~$89 each; disclosure is routine but reduces director's direct stake.

The Form 4 documents two separate open-market sales by Jeanne A. Thoma totaling 21,540 shares on 08/18/2025 at weighted-average prices of $89.76 and $88.87. These are reported as direct dispositions and the filing provides the weighted-average prices and trade price ranges. For analysts, such sales can reflect liquidity needs or portfolio rebalancing rather than firm-specific negative information when no related-party transaction or exercise is indicated; the filing itself does not state intent. The reported post-transaction beneficial ownership figures are presented line-by-line in the form and should be reconciled with prior filings for a complete ownership trend analysis.

Corporate Governance Expert

TL;DR: Director reported routine open-market sales; disclosure meets Section 16 reporting format but provides no explanation of motive.

The Form 4 appears properly completed: reporting person identified as a director, transactions coded as sales, direct ownership form noted, and price ranges explained in remarks. The filing includes a manual signature (attorney-in-fact) and a signature date of 08/20/2025. From a governance perspective, timely and accurate disclosure is the primary compliance objective; this filing supplies the necessary transactional details but does not include any indication of a 10b5-1 plan or other pre-arranged plan that would clarify whether sales were pre-planned.

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^*

Thoma Jeanne

(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)
08/18/2025

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	08/18/2025		S		6,865	D	$89.76(1)	38,080	D
Common Stock	08/18/2025		S		14,675	D	$88.87(2)	23,405	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 shares were sold in multiple trades at prices ranging from $89.75 to $89.90. The price reported above reflects the weighted average sales price.

2. The shares were sold in multiple trades at prices ranging from $88.74 to $89.39. The price reported above reflects the weighted average sales price.

Remarks:

	/s/ Jeanne A. Thoma, by attorney-in-fact Meredith W. Cook	08/20/2025
	** 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 Jeanne A. Thoma report on ANIP Form 4?

She reported two open-market sales on 08/18/2025: 6,865 shares at a weighted-average price of $89.76 and 14,675 shares at a weighted-average price of $88.87.

How many total ANIP shares were sold by the reporting person?

The Form 4 shows a total of 21,540 shares sold across the two reported transactions.

What post-transaction beneficial ownership figures are shown?

The filing lists post-transaction beneficial ownership amounts of 38,080 shares and 23,405 shares on the respective reporting lines.

Did the Form 4 indicate a 10b5-1 trading plan?

No. The filing does not indicate that the transactions were executed pursuant to a 10b5-1 plan.

When was the Form 4 signed and filed?

The signature block shows the filing was signed by an attorney-in-fact and dated 08/20/2025.