AN2 Therapeutics reprices CEO stock options

AN2 Therapeutics Chief Executive Officer Eric Easom reported a repricing of his stock options, with no open-market purchases or sales of common stock.

Rhea-AI Filing Summary

AN2 Therapeutics Chief Executive Officer Eric Easom reported a repricing of his stock options, with no open-market purchases or sales of common stock. On March 19, 2026, the board approved cancelling existing options with exercise prices of $6.596, $17.28 and $11.99 per share and granting replacement options over the same share amounts at an exercise price of $3.91 per share, matching the closing stock price that day.

The replacement options remain subject to their original expiration dates and vesting schedules, including monthly vesting measured from March 25, 2022 and January 1, 2023, as applicable. The footnotes state that if the repriced options are exercised, or Easom’s service ends, before a defined “Premium End Date,” the exercise price will revert to the original higher levels.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Easom Eric

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	249,999	$0.00	$0.00
Disposition	Stock Option (right to buy)	249,999	$0.00	$0.00
Grant/Award	Stock Option (right to buy)	225,000	$0.00	$0.00
Disposition	Stock Option (right to buy)	225,000	$0.00	$0.00
Grant/Award	Stock Option (right to buy)	267,650	$0.00	$0.00
Disposition	Stock Option (right to buy)	267,650	$0.00	$0.00

Holdings After Transaction: Stock Option (right to buy) — 742,649 contracts (Direct)

Footnotes (5)

1. F1. The exercise price of the option is $3.91 per share, representing the closing price of the Issuer's common stock on the date of the repricing; provided that the exercise price will be increased to the original exercise price before repricing if, prior to the "Premium End Date" (as defined below), the repriced option is exercised or the Reporting Person's services with the Company is terminated. The "Premium End Date" means the earliest of: (i) September 19, 2027, (ii) the date of a change in control or (iii) the Reporting Person's death or disability.
2. F2. The option is fully vested.
3. F3. On March 19, 2026, the board of directors of the Issuer approved the repricing of the option. Except as further described in footnote 1, all other terms of the option remain unchanged.
4. F4. The shares subject to the option vest as follows: 1/48 of the shares shall vest on each monthly anniversary measured from March 25, 2022, subject to the Reporting Person's continuous service through each applicable vesting date.
5. F5. The shares subject to the option vest as follows: 1/48 of the shares shall vest on each monthly anniversary measured from January 1, 2023, subject to the Reporting Person's continuous service through each applicable vesting date.

FAQ

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What insider activity did AN2 Therapeutics (ANTX) report for CEO Eric Easom?

AN2 Therapeutics reported that CEO Eric Easom had several existing stock options cancelled and replacement options granted at a new $3.91 exercise price. These are compensation-related option repricings, not open-market stock purchases or sales.

How many AN2 Therapeutics options were repriced for the CEO in this Form 4?

The filing shows repricing of options covering 249,999, 225,000 and 267,650 shares of common stock. Each original grant was cancelled and replaced with a new option over the same number of shares at a $3.91 exercise price.

What is the new exercise price of the repriced AN2 Therapeutics (ANTX) CEO options?

The repriced CEO stock options carry an exercise price of $3.91 per share, which the filing describes as the closing price of AN2 Therapeutics common stock on the repricing date, March 19, 2026.

Did the AN2 Therapeutics CEO buy or sell any common stock in this Form 4?

The Form 4 does not report any open-market purchases or sales of common stock by the CEO. All reported transactions involve stock option awards and cancellations rather than trading in the company’s shares on the market.

What is the Premium End Date condition in the AN2 Therapeutics CEO option repricing?

The footnotes state the exercise price reverts to the original level if the repriced options are exercised, or the CEO’s service ends, before the “Premium End Date”, defined as the earliest of September 19, 2027, a change in control, or death/disability.

How do the AN2 Therapeutics CEO options vest after this repricing?

Vesting terms remain based on prior schedules. The filing notes options where 1/48 of the shares vest monthly from March 25, 2022 and other grants vest 1/48 monthly from January 1, 2023, subject to continued service.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/23/2026 - 07:00 PM Learn about SEC filing dates

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^*

Easom Eric

(Last) (First) (Middle)

C/O AN2 THERAPEUTICS, INC.

1300 EL CAMINO REAL, SUITE 100

(Street)

MENLO PARK CALIFORNIA 94025

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

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
Stock Option (right to buy)	$3.91(1)	03/19/2026		A		249,999		(2)	04/29/2031	Common Stock	249,999	(3)	249,999	D
Stock Option (right to buy)	$6.596	03/19/2026		D			249,999	(2)	04/29/2031	Common Stock	249,999	(3)	0	D
Stock Option (right to buy)	$3.91(1)	03/19/2026		A		225,000		(4)	05/11/2032	Common Stock	225,000	(3)	225,000	D
Stock Option (right to buy)	$17.28	03/19/2026		D			225,000	(4)	05/11/2032	Common Stock	225,000	(3)	0	D
Stock Option (right to buy)	$3.91(1)	03/19/2026		A		267,650		(5)	02/22/2033	Common Stock	267,650	(3)	267,650	D
Stock Option (right to buy)	$11.99	03/19/2026		D			267,650	(5)	02/22/2033	Common Stock	267,650	(3)	0	D

Explanation of Responses:

1. The exercise price of the option is $3.91 per share, representing the closing price of the Issuer's common stock on the date of the repricing; provided that the exercise price will be increased to the original exercise price before repricing if, prior to the "Premium End Date" (as defined below), the repriced option is exercised or the Reporting Person's services with the Company is terminated. The "Premium End Date" means the earliest of: (i) September 19, 2027, (ii) the date of a change in control or (iii) the Reporting Person's death or disability.

2. The option is fully vested.

3. On March 19, 2026, the board of directors of the Issuer approved the repricing of the option. Except as further described in footnote 1, all other terms of the option remain unchanged.

4. The shares subject to the option vest as follows: 1/48 of the shares shall vest on each monthly anniversary measured from March 25, 2022, subject to the Reporting Person's continuous service through each applicable vesting date.

5. The shares subject to the option vest as follows: 1/48 of the shares shall vest on each monthly anniversary measured from January 1, 2023, subject to the Reporting Person's continuous service through each applicable vesting date.

	/s/ Lucy Day, Attorney-in-Fact for Eric Easom	03/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)