AN2 Therapeutics (ANTX) director Aziz Kabeer granted 2,852 shares as fees

Rhea-AI Filing Summary

Aziz Kabeer reported acquisition or exercise transactions in this Form 4 filing.

AN2 Therapeutics, Inc. director Aziz Kabeer received a grant of 2,852 shares of common stock on July 10, 2026 as compensation under the non-employee director compensation policy, in lieu of cash, with all shares vesting immediately. Following this award, he holds 59,106 shares directly. Additional indirect holdings of 377,542 and 1,995,958 shares are held through Adjuvant Global Health Technology Fund entities, where he may be deemed to share voting and dispositive power but each related person and entity disclaims beneficial ownership except to the extent of pecuniary interest.

Insights

Equity Compensation Analyst

Routine stock grant replaces cash fees for independent director.

The reporting person, director Aziz Kabeer, received 2,852 shares of AN2 Therapeutics common stock at $0.0000 per share as a grant under the non-employee director compensation policy. Footnotes clarify this stock was issued in lieu of cash compensation and that the shares vest immediately, indicating a standard equity-based fee structure rather than a market purchase.

After the grant, Kabeer directly holds 59,106 shares. Indirect positions of 377,542 and 1,995,958 shares are held by Adjuvant Global Health Technology Fund entities, over which he may share voting and dispositive power. Each involved party disclaims beneficial ownership beyond its pecuniary interest, underscoring that much of the reported exposure is through investment vehicles rather than personal trading.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Aziz Kabeer

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,852	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 59,106 shares (Direct, null); Common Stock — 1,995,958 shares (Indirect, See Footnote)

Footnotes (1)

1. Represents shares issued in lieu of cash compensation under the issuer's non-employee director compensation policy. All shares vest immediately. Shares are held directly by Adjuvant Global Health Technology Fund, L.P. ("AGHT Fund"). The sole general partner of AGHT Fund is Adjuvant Capital GP, L.P. ("AC GP") and the sole general partner of AC GP is Adjuvant Capital Management, L.L.C. ("AC MGMT"). The Reporting Person is a member of the Issuer's board of directors and is Secretary of AC MGMT, and may be deemed to share voting and dispositive power over the securities held by such entities. Each such person and entity disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest in such securities. Shares are held directly by Adjuvant Global Health Technology Fund DE, L.P. ("AGHT Fund DE"). The sole general partner of AGHT Fund DE is AC GP and the sole general partner of AC GP is AC MGMT. The Reporting Person is a member of the Issuer's board of directors and is Secretary of AC MGMT, and may be deemed to share voting and dispositive power over the securities held by such entities. Each such person and entity disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest in such securities.

Key Figures

Director stock grant: 2,852 shares Grant price per share: $0.0000 Direct holdings after grant: 59,106 shares +2 more

5 metrics

Director stock grant 2,852 shares Common stock granted on July 10, 2026 under non-employee director compensation policy

Grant price per share $0.0000 Price per share for 2,852-share common stock grant to director

Direct holdings after grant 59,106 shares Total AN2 Therapeutics common shares held directly by Aziz Kabeer following the transaction

Indirect holdings via AGHT Fund 377,542 shares Common stock held by Adjuvant Global Health Technology Fund, L.P. with shared voting and dispositive power

Indirect holdings via AGHT Fund DE 1,995,958 shares Common stock held by Adjuvant Global Health Technology Fund DE, L.P. with shared voting and dispositive power

Key Terms

non-employee director compensation policy, disclaims beneficial ownership, pecuniary interest, voting and dispositive power

4 terms

non-employee director compensation policy financial

"Represents shares issued in lieu of cash compensation under the issuer's non-employee director compensation policy."

disclaims beneficial ownership financial

"Each such person and entity disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest"

pecuniary interest financial

"except to the extent of such person's or entity's pecuniary interest in such securities."

voting and dispositive power financial

"may be deemed to share voting and dispositive power over the securities held by such entities."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/10/2026 - 07:41 PM Accepted by SEC EDGAR 07/10/2026 - 07:41 PM Learn about SEC filing dates

FAQ

What did ANTX director Aziz Kabeer receive in this Form 4 filing?

Director Aziz Kabeer received a stock grant of 2,852 shares of AN2 Therapeutics common stock at $0.0000 per share as compensation under the non-employee director compensation policy, issued in lieu of cash and vesting immediately.

How many ANTX shares does Aziz Kabeer hold directly after this transaction?

After the reported grant, Aziz Kabeer directly holds 59,106 shares of AN2 Therapeutics common stock. This figure reflects his direct ownership position following the 2,852-share director compensation award on July 10, 2026.

What are the indirect ANTX share holdings reported for Aziz Kabeer?

Indirect holdings total 377,542 and 1,995,958 AN2 Therapeutics shares, held by Adjuvant Global Health Technology Fund entities. Kabeer may share voting and dispositive power over these securities through related partnerships and management entities, subject to pecuniary interest limitations.

Were the ANTX shares in this Form 4 purchased on the open market?

No, the 2,852 ANTX shares were issued as a grant under the non-employee director compensation policy at $0.0000 per share, in lieu of cash compensation, and were not open-market purchases or sales.

Do the Adjuvant funds fully attribute ANTX share ownership to Aziz Kabeer?

No. Footnotes state that each person and entity, including Aziz Kabeer, disclaims beneficial ownership of AN2 Therapeutics shares held by the Adjuvant funds, except to the extent of each party’s pecuniary interest in those securities.

What is the vesting status of the ANTX director compensation shares granted to Aziz Kabeer?

The 2,852 ANTX shares granted to Aziz Kabeer under the non-employee director compensation policy vest immediately, meaning there is no multi-year vesting schedule tied to this specific stock-based compensation.

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^*

Aziz Kabeer

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

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
Common Stock	07/10/2026		A		2,852(1)	A	$0	59,106	D
Common Stock								1,995,958	I	See Footnote(2)
Common Stock								377,542	I	See Footnote(3)

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 shares issued in lieu of cash compensation under the issuer's non-employee director compensation policy. All shares vest immediately.

2. Shares are held directly by Adjuvant Global Health Technology Fund, L.P. ("AGHT Fund"). The sole general partner of AGHT Fund is Adjuvant Capital GP, L.P. ("AC GP") and the sole general partner of AC GP is Adjuvant Capital Management, L.L.C. ("AC MGMT"). The Reporting Person is a member of the Issuer's board of directors and is Secretary of AC MGMT, and may be deemed to share voting and dispositive power over the securities held by such entities. Each such person and entity disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest in such securities.

3. Shares are held directly by Adjuvant Global Health Technology Fund DE, L.P. ("AGHT Fund DE"). The sole general partner of AGHT Fund DE is AC GP and the sole general partner of AC GP is AC MGMT. The Reporting Person is a member of the Issuer's board of directors and is Secretary of AC MGMT, and may be deemed to share voting and dispositive power over the securities held by such entities. Each such person and entity disclaims beneficial ownership of the securities, except to the extent of such person's or entity's pecuniary interest in such securities.

	/s/ Lucy Day, Attorney-in-Fact for Kabeer Aziz	07/10/2026
	** 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)