Athira Pharma Form 144: Minor 10.8K-Share Insider Sale Filed

Rhea-AI Filing Summary

Athira Pharma, Inc. (ATHA) has filed a Form 144 indicating an insider’s intention to sell shares. The notice covers the proposed sale of 10,842 common shares through Morgan Stanley Smith Barney on or after 01 July 2025. The shares were originally acquired on 30 June 2025 via the lapse of restrictions on equity compensation, as disclosed in the filing’s “Nature of Acquisition Transaction.”

With 39,040,945 shares outstanding, the proposed sale represents only about 0.03 % of total shares, suggesting minimal dilution or market overhang. There were no other sales reported in the past three months by the same filer. The filing also certifies that the seller is unaware of any material, non-public adverse information about the company.

Form 144 filings are routine compliance documents required when affiliates intend to sell restricted or control stock. While they do not guarantee a sale will occur, they provide advance notice to the market. Because the volume is small relative to shares outstanding and there are no accompanying negative disclosures, the near-term impact on ATHA’s share price is likely limited. Nevertheless, investors often watch insider activity for sentiment signals; the timing—immediately after a restriction lapse—may be interpreted as profit-taking by the holder.

Positive

• Sale volume is only 0.03 % of shares outstanding, implying minimal supply pressure on ATHA stock.
• Filer certifies no undisclosed adverse information, reducing information-risk for public investors.

Negative

• Insider intends to sell shares immediately after vesting, which may be perceived as limited confidence in near-term upside.
• Form 144 signals potential supply entering the market, albeit modest, which could weigh on sentiment in a thin-liquidity environment.

Insights

Financial Analyst

TL;DR – Modest insider sale (0.03 % of float) signals routine liquidity, negligible fundamental impact.

This Form 144 shows an affiliate’s intent to sell 10,842 shares out of 39.0 million outstanding. The shares stem from recently vested restricted stock, a common equity-compensation event. Because the volume is de minimis and there is no accompanying operational disclosure, I view the filing as neutral from a valuation standpoint. It does, however, provide a mild sentiment data-point that the holder is monetising immediately after vesting, which some traders may view cautiously. Overall, the filing is more a regulatory formality than a catalyst.

Risk Analyst

TL;DR – Insider intent to sell shortly after vesting warrants monitoring but poses low market-impact risk.

From a governance and liquidity-risk angle, the transaction is minor. The seller attests to having no undisclosed adverse information, reducing asymmetric-information concerns. The absence of previous recent sales suggests this is not part of a larger disposal programme. Nonetheless, rapid divestment post-vesting can be interpreted as limited long-term alignment. I assign a neutral to slightly negative tone, primarily as a watch-item for future cumulative sales.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 38th Fl. New York NY 10004	10842	3182	39040945	07/01/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/30/2025	Restricted Stock Lapse - See Remarks	Athira Pharma, Inc.			46666	07/01/2025	Equity Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Athira Pharma (ATHA) shares are being sold under this Form 144?

The filing covers 10,842 common shares that the insider intends to sell.

What percentage of ATHA’s outstanding shares does the proposed sale represent?

It represents roughly 0.03 % of the 39,040,945 shares currently outstanding.

When is the earliest date the ATHA shares can be sold?

The approximate sale date listed is 01 July 2025.

How were the shares acquired by the insider?

They were obtained on 30 June 2025 through the lapse of restrictions on equity-compensation stock.

Does the filing indicate any prior insider sales in the last three months?

No. The section “Securities Sold During the Past 3 Months” states “Nothing to Report.”

Which broker will handle the transaction?

The broker of record is Morgan Stanley Smith Barney LLC, Executive Financial Services.

Is there any statement about undisclosed material information?

Yes. The signer certifies that they do not know of any material adverse, non-public information about Athira Pharma.