48,375 RSUs granted to AN2 Therapeutics (ANTX) Principal Accounting Officer

Rhea-AI Filing Summary

Williams Sarah Joanne reported acquisition or exercise transactions in this Form 4 filing.

AN2 Therapeutics Principal Accounting Officer Sarah Joanne Williams received a grant of 48,375 shares of common stock in the form of restricted stock units. The RSUs vest over four years, with one quarter of the shares vesting annually from January 1, 2026, contingent on her continued service.

After this award, Williams directly holds 67,175 shares, including prior RSU grants described in the footnotes. Those earlier RSUs vest on separate annual and quarterly schedules, also conditioned on her remaining in service with the company.

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

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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^*

Williams Sarah Joanne

(Last) (First) (Middle)

C/O AN2 THERAPEUTICS, INC.

1300 EL CAMINO REAL, SUITE 100

(Street)

MENLO PARK CA 94025

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AN2 Therapeutics, Inc. [ ANTX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Principal Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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	02/20/2026		A		48,375(1)	A	$0	67,175(2)	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. Represents restricted stock units ("RSUs") which vest as follows: 1/4th of the shares vests annually over four years from January 1, 2026, subject to the Reporting Person's continuous service through each applicable vesting date.

2. Includes the balance of (a) 10,938 RSUs which vest as follows: 1/4th of the RSUs vest in substantially equal installments annually (rounded down to the nearest whole number of shares) over four years from January 1, 2025, and (b) 11,850 RSUs which vest as follows: 1/16th of the RSUs vest in substantially equal installments quarterly (rounded down to the nearest whole number of shares) over four years from May 28, 2024, in each case subject to the Reporting Person's continuous service through each applicable vesting date. A total of 3,174 shares from the aggregate number of the RSUs issued under (a) and (b) above were sold to cover taxes and a total of 814 shares were sold on the open market.

Remarks:

Exhibits: Power of Attorney

	/s/ Sarah Joanne Williams	02/23/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did AN2 Therapeutics (ANTX) report for Sarah Joanne Williams?

AN2 Therapeutics reported that Principal Accounting Officer Sarah Joanne Williams acquired 48,375 shares through a restricted stock unit grant. These RSUs are a form of equity compensation that convert into common shares as they vest over time, subject to continued service.

How many AN2 Therapeutics (ANTX) shares did Sarah Joanne Williams hold after the Form 4 transaction?

Following the award, Sarah Joanne Williams directly held a total of 67,175 shares of AN2 Therapeutics common stock. This figure includes the newly granted 48,375 RSUs and the remaining balance of earlier RSU grants detailed in the accompanying footnotes.

What are the vesting terms of the new 48,375 RSUs at AN2 Therapeutics (ANTX)?

The 48,375 RSUs granted to Sarah Joanne Williams vest over four years, with one quarter of the shares vesting annually from January 1, 2026. Each vesting installment requires her to remain in continuous service through the applicable vesting date.

What prior RSU grants are included in Sarah Joanne Williams’ AN2 Therapeutics (ANTX) holdings?

Her holdings include remaining balances of 10,938 RSUs vesting annually from January 1, 2025, and 11,850 RSUs vesting quarterly over four years from May 28, 2024. All such vesting is conditioned on her continued service with AN2 Therapeutics.

Do the AN2 Therapeutics (ANTX) Form 4 footnotes mention any shares sold for taxes or on the open market?

Yes. The footnotes state that 3,174 shares from earlier RSU issuances were sold to cover taxes, and 814 shares were sold on the open market. These sales relate to prior RSU activity, not the newly granted 48,375 RSUs.

What is Sarah Joanne Williams’ role at AN2 Therapeutics (ANTX) in this Form 4 filing?

In this filing, Sarah Joanne Williams is identified as an officer of AN2 Therapeutics serving as Principal Accounting Officer. Her equity grant aligns her compensation partly with company performance through time-based vesting of restricted stock units.