BioCryst (BCRX) Director Trade: 70k Sold, 70k Options Granted

Rhea-AI Filing Summary

Insider trades by director Theresa Heggie at BioCryst Pharmaceuticals (BCRX): the filing shows automatic option grants and a sale on 08/13/2025. She received two automatic option grants totaling 70,000 options (30,000 at $2.91; 40,000 at $5.41) exercisable in 2020 and 2021 with 2029 and 2030 expirations. On the same date she sold 70,000 common shares at a weighted average price of $8.5124, leaving her with 65,352 shares beneficially owned.

Positive

• Automatic option grants were received (30,000 at $2.91 and 40,000 at $5.41), indicating ongoing director compensation under existing plans
• Full disclosure includes weighted-average sale price and footnote offering to provide transaction-level details on request

Negative

• Sale of 70,000 shares reduced direct beneficial ownership to 65,352 shares
• Combined transactions result in no net increase in liquid common shares held post-sale

Insights

Securities Analyst

TL;DR: Director executed offsetting activity: standard option grants and an equal-volume sale, producing no clear material shift in ownership.

The filing documents routine automatic option grants under existing plans and a contemporaneous sale of 70,000 shares at a weighted average $8.5124. Post-transactions, beneficial ownership stands at 65,352 shares. The option grants are long-dated and typical for compensation; the sale reduced her immediate common-stock holdings but matches the number of options received on the same date. These appear procedural and not an extraordinary corporate event based solely on the filing.

Corporate Governance Expert

TL;DR: Disclosure shows standard director compensation and an open-market sale; recordkeeping and footnote disclosure are complete.

The Form 4 reports automatic stock-option grants (30,000 and 40,000) consistent with prior grant dates and long expirations, and a sale executed in multiple transactions reflected by a weighted average price disclosed in a footnote. The signer executed via power of attorney. No indications of related-party or plan amendments are present in the filing text provided.

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
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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^*

HEGGIE THERESA

(Last) (First) (Middle)

4505 EMPEROR BOULEVARD

SUITE 200

(Street)

DURHAM NC 27703

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BIOCRYST PHARMACEUTICALS INC [ BCRX ]

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)
08/13/2025

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 Stock	08/13/2025		M		30,000	A	$2.91	95,352	D
Common Stock	08/13/2025		M		40,000	A	$5.41	135,352	D
Common Stock	08/13/2025		S		70,000	D	$8.5124(1)	65,352	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
Automatic Stock Option Grant	$2.91	08/13/2025		M			30,000	05/29/2020	05/29/2029	Common Stock	30,000	$0	0	D
Automatic Stock Option Grant	$5.41	08/13/2025		M			40,000	05/12/2021	05/12/2030	Common Stock	40,000	$0	0	D

Explanation of Responses:

1. The price in column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $8.48 to $8.55. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

	/s/ Alane P. Barnes, by power of attorney	08/15/2025
	** 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

What did Theresa Heggie report on Form 4 for BCRX?

She reported two automatic option grants (30,000 at $2.91; 40,000 at $5.41) and the sale of 70,000 common shares on 08/13/2025.

How many shares does Theresa Heggie own after the transactions?

She beneficially owns 65,352 shares following the reported transactions.

At what price were the shares sold?

The shares were sold at a weighted average price of $8.5124; the filing notes sales ranged from $8.48 to $8.55.

What are the exercise prices and expirations of the option grants?

Options: 30,000 at $2.91 (exercisable 05/29/2020, exp. 05/29/2029) and 40,000 at $5.41 (exercisable 05/12/2021, exp. 05/12/2030).

Was the Form 4 signed directly by the reporting person?

No; the form was signed by Alane P. Barnes by power of attorney on 08/15/2025.