[Form 4] ANI PHARMACEUTICALS INC Insider Trading Activity

Rhea-AI Filing Summary

Krista Davis, SVP and Chief HR Officer of ANI Pharmaceuticals (ANIP), reported a tax-withholding disposition tied to the vesting of restricted stock. On 09/12/2025 she disposed of 1,710 shares of common stock at a price of $97.71 per share; following the transaction she beneficially owns 61,186 shares. The filing notes those shares were withheld to satisfy tax obligations related to the vesting of 4,108 previously granted restricted shares.

The Form 4 was signed via attorney-in-fact on 09/15/2025. This is a routine, non-derivative withholding to cover taxes on vested restricted stock rather than an open-market sale or a new transfer of ownership.

Positive

• Insider retains substantial stake: Reporting person still beneficially owns 61,186 shares after the withholding.

Negative

• Disposition occurred: 1,710 shares were disposed of (withheld) at $97.71, reducing the insider's share count tied to the recent vesting.

Insights

Corporate Governance Expert

TL;DR: Routine tax withholding following restricted stock vesting; no new compensation or market-timed sale disclosed.

The filing documents a standard withholding event where 1,710 shares were disposed to cover taxes on 4,108 vested restricted shares. The reporting person remains a significant insider with 61,186 shares beneficially owned, indicating continued equity alignment with shareholders. The method (withholding exempt under Rule 16(b)-3) and the signature via attorney-in-fact are consistent with administrative compliance rather than strategic trading.

Securities Analyst

TL;DR: Non-material insider disposition for tax purposes; no indication of company-directed liquidity or new derivative activity.

This Form 4 shows a disposition code F(1) representing shares withheld for taxes on vested restricted stock. The transaction price was $97.71 and reduced the insider’s holding by 1,710 shares from the gross vesting of 4,108 shares. Because the action is tax-related and the insider retains 61,186 shares, the event is operationally routine and unlikely to be material to ANIP’s valuation or near-term trading dynamics.

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).

1. Name and Address of Reporting Person^*

Davis Krista

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, CHIEF HR OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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	09/12/2025		F(1)		1,710	D	$97.71	61,186	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. Shares withheld for tax purposes exempt under Rule 16(b)-3 in connection with the vesting of 4,108 shares of restricted stock, the grant of which was previously reported.

Remarks:

	/s/ Krista Davis, by attorney-in-fact Meredith W. Cook	09/15/2025
	** 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 Krista Davis report on Form 4 for ANIP?

She reported a tax-withholding disposition of 1,710 shares on 09/12/2025 at $97.71 per share related to the vesting of 4,108 restricted shares.

Why were shares disposed of according to the Form 4?

The filing states the shares were withheld for tax purposes exempt under Rule 16(b)-3 in connection with the vesting of restricted stock.

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

Following the reported withholding, the reporting person beneficially owns 61,186 shares.

When was the Form 4 signed and by whom?

The Form 4 was signed on 09/15/2025 by attorney-in-fact Meredith W. Cook on behalf of Krista Davis.

Does the Form 4 show any derivative transactions or option exercises?

No. The filing only reports a non-derivative withholding disposition of common stock related to restricted stock vesting.