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

Rhea-AI Filing Summary

ANI Pharmaceuticals director Matthew J. Leonard reported the sale of 6,937 shares of ANIP common stock on 08/18/2025. The shares were sold in multiple trades at prices ranging from $87.66 to $88.36, with a weighted-average sale price of $88.17. After the transactions Mr. Leonard beneficially owned 9,392 shares, reported as directly owned. The Form 4 was filed as a single reporting person filing and is signed by an attorney-in-fact on behalf of Mr. Leonard.

This filing documents a routine insider disposition of equity by a director and provides the exact sale quantity, price range, weighted-average price, and resulting beneficial ownership shown on the Form 4.

Insights

Financial Analyst

TL;DR: Director sold 6,937 ANIP shares at a weighted average of $88.17, leaving 9,392 shares beneficially owned.

The transaction is a direct sale by a board member reported on Form 4, providing clear execution details: multiple trades between $87.66 and $88.36 and a weighted-average price of $88.17. From an analyst perspective, this is a disclosure of insider liquidity rather than an operational signal. The filing includes precise quantities and post-transaction ownership which allow investors to update insider-holding records without ambiguity. No derivative activity or 10b5-1 plan is stated on the form.

Corporate Governance Expert

TL;DR: Reported director sale is properly disclosed with transaction specifics and signature; appears procedurally compliant.

The Form 4 shows that the reporting person is a director and filed as an individual reporting person. The document discloses the sale quantity, price range, weighted-average price and resulting direct beneficial ownership, and includes an attorney-in-fact signature. For governance review, the form contains the material elements required for Section 16 reporting. The filing does not indicate amendments or additional arrangements that would change the disclosure context.

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)
08/18/2025

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		6,937	D	$88.17(1)	9,392	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 $87.66 to $88.36. The price reported above reflects the weighted average sales price.

Remarks:

	/s/ Matthew J. Leonard, by attorney-in-fact Meredith W. Cook	08/18/2025
	** 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 did ANIP insider Matthew J. Leonard report on the Form 4?

The Form 4 reports a sale of 6,937 shares of ANIP common stock on 08/18/2025 and shows 9,392 shares beneficially owned after the sale.

At what price were the ANIP shares sold in the Form 4?

The shares were sold in multiple trades at prices ranging from $87.66 to $88.36, with a weighted-average sale price of $88.17.

Does the Form 4 indicate indirect ownership or derivatives for the reporting person?

No. The Form 4 reports direct ownership only and shows no derivative securities or indirect ownership nature listed.

Was the Form 4 filed jointly or by a single reporting person?

The form was filed by one reporting person and is signed by an attorney-in-fact on behalf of Matthew J. Leonard.

Is there any indication the sale was made under a Rule 10b5-1 trading plan?

The form does not indicate that the transaction was made pursuant to a Rule 10b5-1 plan; no 10b5-1 box is checked or described.