Director Jill Milne receives BioCryst (BCRX) stock and option grants

Rhea-AI Filing Summary

BioCryst Pharmaceuticals director Jill C. Milne reported new equity holdings following a merger and standard director compensation grants. On 01/23/2026 she received 2,582 shares of BioCryst common stock in exchange for 4,377 Astria Therapeutics shares under a merger where each Astria share was converted into 0.59 BioCryst share plus $8.55 in cash.

She also acquired 12,272 restricted stock units as an automatic non-employee director grant that will vest in three equal annual installments starting one year after grant. In addition, she received an automatic stock option grant for 26,684 shares at an exercise price of $6.79, vesting 1/36 per month over three years and expiring on 01/23/2036.

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^*

Milne Jill C.

(Last) (First) (Middle)

4505 EMPEROR BLVD

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)
01/23/2026

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	01/23/2026		A		2,582	A	(1)	2,582	D
Common Stock	01/23/2026		A		12,272(2)	A	$0	14,854	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(3)	$6.79	01/23/2026		A		26,684		(4)	01/23/2036	Common Stock	26,684	$0	26,684	D

Explanation of Responses:

1. Received in exchange for 4,377 shares of Astria Therapeutics, Inc. ("Astria") common stock in connection with a merger (the "Merger"), pursuant to which Astria became a wholly owned subsidiary of BioCryst Pharmaceuticals, Inc. ("BioCryst"). Pursuant to the Merger, each share of Astria common stock (subject to certain inapplicable exceptions) was converted into the right to receive (i) 0.59 of a share of common stock of BioCryst and, if applicable, cash in lieu of fractional shares, and (ii) $8.55 in cash, without interest, subject to applicable withholding taxes. On the last trading day before the effective date of the Merger, the closing price of Astria's common stock was $12.58 per share, and the closing price of BioCryst's common stock was $6.75 per share.

2. Automatic non-employee director grant of restricted stock units pursuant to the BioCryst Non-Employee Director Compensation Policy, as amended (the "Director Compensation Policy"), which will vest in three equal annual installments beginning on the twelve-month anniversary of the date of grant.

3. Automatic non-employee director grant of stock options pursuant to the Director Compensation Policy.

4. The option grant vests 1/36 per month over a 3-year period measured from the date of grant.

	/s/ Alane P. Barnes, by power of attorney	01/27/2026
	** 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.

FAQ

What insider transactions did BioCryst (BCRX) director Jill C. Milne report?

Jill C. Milne reported acquiring BioCryst equity on 01/23/2026. She received common shares via a merger with Astria Therapeutics, plus automatic non-employee director grants of restricted stock units and stock options under the company’s director compensation policy.

How many BioCryst (BCRX) shares did Jill C. Milne receive from the Astria merger?

She received 2,582 BioCryst common shares in exchange for 4,377 Astria Therapeutics shares. Each Astria share converted into 0.59 BioCryst share plus $8.55 in cash, based on closing prices of $12.58 for Astria and $6.75 for BioCryst.

What restricted stock units were granted to Jill C. Milne at BioCryst (BCRX)?

She received 12,272 restricted stock units as an automatic non-employee director grant under BioCryst’s director compensation policy. These RSUs vest in three equal annual installments, beginning on the twelve-month anniversary of the grant date of 01/23/2026.

What are the terms of Jill C. Milne’s BioCryst (BCRX) stock option grant?

She was granted 26,684 stock options at an exercise price of $6.79 per share. The options vest 1/36 each month over three years from 01/23/2026 and are scheduled to expire on 01/23/2036, if not exercised earlier.

How did the Astria Therapeutics merger affect Jill C. Milne’s holdings in BioCryst (BCRX)?

Through the merger, her 4,377 Astria shares converted into rights to receive BioCryst stock and cash. Each Astria share became 0.59 BioCryst share plus $8.55 cash, resulting in 2,582 BioCryst shares and associated cash consideration, before taxes and fractional share adjustments.