AN2 director sells 1,108 shares around $6

Director-associated venture funds sold 1,108 ANTX shares under Rule 10b5-1 plans, while the director retains 9,077 shares held directly.

Rhea-AI Filing Summary

AN2 Therapeutics, Inc. (ANTX) director Robin Shane Readnour reported indirect sales totaling 1,108 shares of common stock on September 9, 2026, at a weighted average price of $6.0243 per share. The sales were made automatically under Rule 10b5-1 trading plans for MGC 2018 LP and MGC 2018 QP. Following these transactions, Readnour continues to hold 9,077 shares of ANTX common stock directly, while disclaiming beneficial ownership of the fund-held shares beyond any pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 1,108 shares

Net Sell 3 txns

Insider Readnour Robin Shane

Role Director

Sold 1,108 shs ($7K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F3, F4, F5	523	$6.0243	$3K
Sale	Common Stock F2, F3, F4, F6	585	$6.0243	$4K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 624,765 shares (Indirect, See footnotes); Common Stock — 9,077 shares (Direct)

Footnotes (6)

1. F1. The reported sale of shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by MGC Venture Partners 2018, LP ("MGC 2018 LP") on April 23, 2026.
2. F2. The reported sale of shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by MGC Venture Partners QP 2018, LP ("MGC 2018 QP") on April 23, 2026.
3. F3. Represents the weighted average sale price for multiple transactions ranging from $6.02 to $6.04, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range reported herein.
4. F4. MGC Venture Partners 2018 GP, LLC ("MGC 2018 GP") is the general partner of MGC 2018 LP and MGC 2018 QP. MGC 2018 GP has shared voting and shared dispositive power over the shares held by MGC 2018 LP and MGC 2018 QP. The Reporting Person is a member of the Issuer's board of directors and is a member of MGC 2018 QP and MGC 2018 LP and a managing partner of MGC 2018 GP and has shared voting power and shared dispositive power over the shares of common stock held by MGC 2018 LP and MGC 2018 QP. The Reporting Person disclaims beneficial ownership of the securities, except to the extent of such person's pecuniary interest in such securities.
5. F5. Shares held directly by MGC 2018 LP.
6. F6. Shares held directly by MGC 2018 QP.

Key Figures

Shares sold by MGC 2018 LP: 523 shares Shares sold by MGC 2018 QP: 585 shares Total shares sold: 1,108 shares +3 more

6 metrics

Shares sold by MGC 2018 LP 523 shares Indirect sale of ANTX common stock on September 9, 2026

Shares sold by MGC 2018 QP 585 shares Indirect sale of ANTX common stock on September 9, 2026

Total shares sold 1,108 shares Combined indirect ANTX sales reported in this Form 4

Weighted average sale price $6.0243 per share Average price for sales within a $6.02–$6.04 range

Sale price range $6.02–$6.04 per share Range of individual ANTX trade prices included in the sales

Direct holdings after transaction 9,077 shares Shares of ANTX common stock held directly by Readnour after September 9, 2026

Key Terms

Rule 10b5-1 trading plan, weighted average sale price, shared dispositive power, pecuniary interest

4 terms

Rule 10b5-1 trading plan regulatory

"The reported sale of shares occurred automatically pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average sale price financial

"Represents the weighted average sale price for multiple transactions ranging"

shared dispositive power financial

"MGC 2018 GP has shared voting and shared dispositive power over the shares"

pecuniary interest financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did ANTX director Robin Shane Readnour report?

Readnour reported two indirect sales totaling 1,108 ANTX shares of common stock on September 9, 2026, executed at a weighted average price of $6.0243 per share under pre-established Rule 10b5-1 trading plans for affiliated funds.

At what prices were the ANTX shares sold in this Form 4 filing?

The filing states a weighted average sale price of $6.0243 per share, with individual trades occurring in a range from $6.02 to $6.04 per ANTX share. Full price-by-trade details are available from the reporting person on request.

Were the ANTX insider sales made under a Rule 10b5-1 trading plan?

Yes. The reported ANTX share sales occurred automatically pursuant to Rule 10b5-1 trading plans adopted by MGC Venture Partners 2018, LP and MGC Venture Partners QP 2018, LP on April 23, 2026, as disclosed in the footnotes.

How many ANTX shares does Robin Shane Readnour hold after these transactions?

After the reported sales, Robin Shane Readnour directly holds 9,077 shares of ANTX common stock. Shares sold in this Form 4 were held indirectly through MGC 2018 LP and MGC 2018 QP, for which beneficial ownership is disclaimed except for any pecuniary interest.

Who actually held the ANTX shares sold in this Form 4 filing?

The ANTX shares were held indirectly through MGC Venture Partners 2018, LP and MGC Venture Partners QP 2018, LP. Their general partner, MGC Venture Partners 2018 GP, LLC, and related parties, including Readnour, share voting and dispositive power over these shares.

How many ANTX shares were sold by each affiliated fund in the filing?

On September 9, 2026, 523 ANTX shares were sold by MGC Venture Partners 2018, LP and 585 ANTX shares were sold by MGC Venture Partners QP 2018, LP, both at the weighted average price of $6.0243 per share within the $6.02–$6.04 range.

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

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Available on EDGAR 09/11/2026 - 07:46 PM Accepted by SEC EDGAR 09/11/2026 - 07:45 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).

X

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^*

Readnour Robin Shane

(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)
09/09/2026

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	09/09/2026		S(1)		523	D	$6.0243(3)	557,467	I	See footnotes(4)(5)
Common Stock	09/09/2026		S(2)		585	D	$6.0243(3)	624,765	I	See footnotes(4)(6)
Common Stock								9,077	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. The reported sale of shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by MGC Venture Partners 2018, LP ("MGC 2018 LP") on April 23, 2026.

2. The reported sale of shares occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by MGC Venture Partners QP 2018, LP ("MGC 2018 QP") on April 23, 2026.

3. Represents the weighted average sale price for multiple transactions ranging from $6.02 to $6.04, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the price range reported herein.

4. MGC Venture Partners 2018 GP, LLC ("MGC 2018 GP") is the general partner of MGC 2018 LP and MGC 2018 QP. MGC 2018 GP has shared voting and shared dispositive power over the shares held by MGC 2018 LP and MGC 2018 QP. The Reporting Person is a member of the Issuer's board of directors and is a member of MGC 2018 QP and MGC 2018 LP and a managing partner of MGC 2018 GP and has shared voting power and shared dispositive power over the shares of common stock held by MGC 2018 LP and MGC 2018 QP. The Reporting Person disclaims beneficial ownership of the securities, except to the extent of such person's pecuniary interest in such securities.

5. Shares held directly by MGC 2018 LP.

6. Shares held directly by MGC 2018 QP.

	/s/ Eric Easom, Attorney-in-Fact for Robin Shane Readnour	09/11/2026
	** 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)