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

Rhea-AI Filing Summary

ANI Pharmaceuticals insider sales by Shanmugam Muthusamy The filing shows that Shanmugam Muthusamy, a director and an officer (Head of R&D, COO-Novitium Ops), reported sales of ANI Pharmaceuticals (ANIP) common stock on 08/14/2025 and 08/15/2025. On 08/14/2025 he sold 47,010 shares at a weighted average price of $89.48, leaving 584,910 shares reported as beneficially owned through Esjay LLC. On 08/15/2025 he sold 52,990 shares at a weighted average price of $87.15, leaving 531,920 shares reported as beneficially owned through Esjay LLC. The filing also reports indirect ownership of 5,000 shares held by SS Pharma LLC. The statement is signed by attorney-in-fact Meredith W. Cook on 08/18/2025.

Positive

• None.

Negative

• Insider dispositions: The reporting person sold a total of 100,000 ANIP shares (47,010 on 08/14/2025 and 52,990 on 08/15/2025).
• Reduction in indirect holdings: Indirect beneficial ownership held by Esjay LLC decreased from 584,910 to 531,920 shares following the reported trades.

Insights

Securities Analyst

TL;DR: Insider sold a total of 100,000 ANIP shares across two days at weighted prices near $87–$89, reducing indirect holdings.

The Form 4 documents two open-market dispositions by a prominent insider on consecutive days: 47,010 shares on 08/14/2025 at a weighted average of $89.48 and 52,990 shares on 08/15/2025 at a weighted average of $87.15. Post-transactions, the reporting person reports indirect beneficial ownership via Esjay LLC of 531,920 shares and indirect ownership via SS Pharma LLC of 5,000 shares. The filing explicitly states voting and dispositive power over the LLC-held shares and provides weighted-average price ranges for the trades. No options, grants, or other derivative transactions are reported. The disclosures are routine for Section 16 reporting and provide clear transactional detail for market participants.

Corporate Governance Expert

TL;DR: Director/officer reported material open-market sales with clear disclosure of indirect ownership and authority over LLC holdings.

The Form 4 clearly identifies the reporting person as both a director and an officer and specifies indirect ownership structures (Esjay LLC and SS Pharma LLC) with stated voting and dispositive power. The filing includes weighted-average sale prices and ranges for the multiple trades, and it is properly signed by an attorney-in-fact. There are no amendments, derivative transactions, or other compensatory grants disclosed. From a governance and compliance standpoint, the filing appears complete and compliant with Section 16 reporting requirements based on the information provided.

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^*

Shanmugam Muthusamy

(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
X	Officer (give title below)		Other (specify below)
	HEAD OF R&D, COO-NOVITIUM OPS

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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								92,588	D
Common Stock	08/14/2025		S		47,010	D	$89.48(1)	584,910	I	Held by Esjay LLC(2)
Common Stock	08/15/2025		S		52,990	D	$87.15(3)	531,920	I	Held by Esjay LLC(2)
Common Stock								5,000	I	Held by SS Pharma LLC(4)

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 $88.20 to $90.11. The price reported above reflects the weighted average sales price.

2. The reporting person holds voting and dispositive power over the shares held by Esjay LLC.

3. The shares were sold in multiple trades at prices ranging from $85.44 to $90.00. The price reported above reflects the weighted average sales price.

4. The Reporting Person holds voting and dispositive power over the shares held by SS Pharma LLC.

Remarks:

	/s/ Muthusamy Shanmugam, 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 transactions did ANIP insider Shanmugam Muthusamy report?

The Form 4 reports open-market sales of 47,010 shares on 08/14/2025 at a weighted average price of $89.48 and 52,990 shares on 08/15/2025 at a weighted average price of $87.15.

How many ANIP shares does the reporting person beneficially own after the sales?

The filing reports indirect beneficial ownership via Esjay LLC of 531,920 shares after the 08/15/2025 sale and indirect ownership via SS Pharma LLC of 5,000 shares.

What roles does the reporting person hold at ANI Pharmaceuticals (ANIP)?

The reporting person is disclosed as a Director and an Officer with the title Head of R&D, COO-Novitium Ops.

Did the Form 4 disclose derivative transactions or option exercises?

No. Table II for derivative securities shows no entries; only non-derivative common stock dispositions are reported.

Who signed the Form 4 and when was it filed?

The Form 4 is signed '/s/ Muthusamy Shanmugam, by attorney-in-fact Meredith W. Cook' with signature date 08/18/2025.