[Form 4] Aurinia Pharmaceuticals Inc Insider Trading Activity

Rhea-AI Filing Summary

Aurinia Pharmaceuticals Inc. (AUPH) – Form 4 insider buying

Director Kevin Tang, through Tang Capital Partners LP and Tang Capital Partners International LP, purchased a total of 1,300,000 common shares in three open-market transactions dated 1-5 Aug 2025 (transaction code P). Weighted-average purchase prices were:

• 1,000,000 sh @ $10.12 (range $9.23-$10.50)
• 100,000 sh @ $11.34 (range $11.11-$11.48)
• 200,000 sh @ $11.68 (range $11.49-$11.80)

Following the buys, Tang’s indirect beneficial ownership rises to 11,329,500 shares (6,371,711 held by TCP; 4,957,789 held by TCPI). No derivative transactions were reported, and Tang’s role remains Director; the filing was made by a single reporting person. The activity signals continued accumulation but does not disclose any changes to governance, compensation, or company fundamentals.

Positive

• Director Kevin Tang purchased 1.3 m shares in the open market, signalling personal confidence.
• Beneficial ownership increased to 11.33 m shares, concentrating insider stake and potentially tightening public float.

Negative

• None.

Insights

Securities Analyst

TL;DR: Large open-market buy by director suggests confidence; ownership now 11.3 m shares.

Open-market purchases are generally viewed as positive because they involve personal capital at risk. The 1.3 m-share buy (~US$14 m) increases Tang’s stake to ~11.3 m shares, reinforcing a long-term commitment via affiliated LPs. No sale offsets were disclosed, and the absence of derivatives indicates straightforward equity exposure. While Form 4s do not reveal motives, size and timing near the $10-$12 range may be interpreted as valuation support. Impact classified as material for sentiment but does not directly affect financial statements.

Portfolio Manager

TL;DR: Insider accumulation strengthens bull case; watch liquidity and future filings.

Tang’s purchases absorb meaningful daily volume and raise cumulative insider ownership, potentially tightening the float. For investors, such buying can act as a floor and improve risk-reward perception ahead of catalysts. However, as the shares are held indirectly by LPs, future distribution decisions could reintroduce supply. Overall market impact skews positive, but portfolio sizing should still consider regulatory and clinical milestones not addressed in this filing.

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^*

TANG KEVIN

(Last) (First) (Middle)

4747 EXECUTIVE DR

SUITE 210

(Street)

SAN DIEGO CA 92121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Aurinia Pharmaceuticals Inc. [ AUPH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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 Shares	08/01/2025		P		1,000,000	A	$10.12(1)	11,029,500	I	By LP(2)
Common Shares	08/04/2025		P		100,000	A	$11.34(3)	11,129,500	I	By LP(2)
Common Shares	08/05/2025		P		200,000	A	$11.68(4)	11,329,500	I	By LP(2)

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 prices reported are weighted-average prices. These shares were purchased in multiple transactions at prices ranging from $9.23 to $10.50. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares purchased at each price within the ranges set forth in Footnotes 1, 3 and 4.

2. Tang Capital Partners, LP ("TCP") beneficially owns 6,371,711 shares and Tang Capital Partners International, LP ("TCPI") beneficially owns 4,957,789 shares. Kevin Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of TCP and TCPI. Mr. Tang has a pecuniary interest in the shares beneficially held by TCP and TCPI.

3. These shares were purchased in multiple transactions ranging from $11.11 to $11.48.

4. These shares were purchased in multiple transactions ranging from $11.49 to $11.80.

	Kevin Tang	08/05/2025
	** 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.

FAQ

How many AUPH shares did Kevin Tang buy in August 2025?

He bought 1,300,000 common shares between 1–5 Aug 2025.

What was the average purchase price per share for the largest transaction?

The 1,000,000-share lot had a $10.12 weighted-average price (range $9.23-$10.50).

What is Kevin Tang’s total AUPH ownership after the transactions?

Tang beneficially owns 11,329,500 shares held indirectly through his LPs.

Were any derivative securities involved in the Form 4 filing?

No; Table II shows zero derivative transactions.

Does the Form 4 indicate Rule 10b5-1 trading?

The filing does not mark the 10b5-1 checkbox; trades appear to be open-market purchases.