Eton Pharma holder plans $6.3M stock sale

Eton Pharmaceuticals, Inc. (ETON) is the issuer of common stock for which Sean E. Brynjelsen has filed a notice to sell shares under Rule 144.

Rhea-AI Filing Summary

Eton Pharmaceuticals, Inc. (ETON) is the issuer of common stock for which Sean E. Brynjelsen has filed a notice to sell shares under Rule 144. The notice covers 100,000 shares of common stock to be sold through Raymond James & Associates, Inc., with an aggregate market value of $6,343,000.00 and 28,583,135 shares of this class outstanding as of the notice. The shares are described as Founder Shares acquired from the issuer on 05/17/2017 by grant, and are listed on Nasdaq. No shares are reported as sold during the past three months.

Key Figures

Shares to be sold: 100000 shares Aggregate market value of shares to be sold: $6,343,000.00 Shares outstanding: 28,583,135 shares +2 more

5 metrics

Shares to be sold 100000 shares Common stock covered by the Rule 144 notice

Aggregate market value of shares to be sold $6,343,000.00 Value of the 100,000 common shares indicated for sale

Shares outstanding 28,583,135 shares Common shares outstanding for this class as listed in the notice

Acquisition date of founder shares 05/17/2017 Date the founder shares were granted by the issuer

Intended sale date 08/19/2026 Date associated with the planned sale under Rule 144

Key Terms

Rule 144, Founder Shares, attorney-in-fact

3 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Founder Shares financial

"Common | 05/17/2017 | Founder Shares | Issuer"

Founder shares are the ownership stakes given to the people who start a company, often with extra voting power or protections compared with ordinary shares. For investors, they matter because founders’ control and incentives influence decisions about strategy, hiring, and whether the company sells or stays independent — like a family that keeps majority voting rights in a household decision. High founder ownership can mean stable leadership but also a risk that outside shareholders have less influence.

attorney-in-fact regulatory

"as attorney-in-fact for Sean E Brynjelsen"

An attorney-in-fact is the person or entity given legal authority through a power of attorney to act on behalf of another for specific tasks, such as signing documents, voting shares, or handling transactions. For investors, this matters because it lets a trusted representative make timely decisions or complete paperwork when the owner cannot, much like handing keys to someone to run errands on your behalf—so checks on scope and limits of that authority are important.

FAQ

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

What does the Form 144 filing for ETON disclose about Sean E. Brynjelsen?

The filing states that Sean E. Brynjelsen intends to sell 100,000 shares of Eton Pharmaceuticals common stock under Rule 144 through Raymond James & Associates, Inc., indicating a planned secondary sale by an existing holder.

How many ETON shares are covered by this Rule 144 notice and what is their value?

The notice covers 100,000 shares of Eton Pharmaceuticals common stock with an aggregate market value of $6,343,000.00. These figures reflect the amount the holder has indicated may be sold pursuant to Rule 144 requirements.

How many ETON common shares are outstanding according to this Form 144?

The Form 144 lists 28,583,135 Eton Pharmaceuticals common shares outstanding. This figure provides context for the planned sale of 100,000 shares, showing the size of the potential sale relative to the total outstanding shares.

What is the origin and acquisition date of the ETON shares to be sold?

The filing describes the securities as Founder Shares acquired from the issuer on 05/17/2017 by grant. This indicates the shares were originally issued directly by Eton Pharmaceuticals to the holder rather than bought on the open market.

On which exchange are the ETON shares listed and when is the intended sale date?

The shares are listed on Nasdaq, and the filing shows an intended sale date of 08/19/2026. This date is part of the Rule 144 notice, which outlines when the holder may sell the covered shares.

Were any ETON shares sold by this holder in the past three months?

No. The section detailing Securities Sold During The Past 3 Months contains no reported transactions, indicating that the holder has not disclosed prior Eton share sales in that recent period in this notice.

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

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Accepted by SEC EDGAR 08/19/2026 - 10:49 AM EDT Learn about SEC filing dates

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	0001669976
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Eton Pharmaceuticals, Inc.
SEC File Number	001-38738
Address of Issuer	21925 W. FIELD PARKWAY SUITE 235 DEER PARK ILLINOIS 60010-7278
Phone	(847) 787-7361
Name of Person for Whose Account the Securities are To Be Sold	BRYNJELSEN SEAN
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	Director
Relationship to Issuer	10% Stockholder

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	Raymond James and Associates Inc. 880 Carillon Parkway St. Petersburg FL 33716	100000	6343000.00	28583135	08/19/2026	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	05/17/2017	Founder Shares	Issuer			100000	05/17/2017	granted

* 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	08/19/2026
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	Rashida Mitchell, as duly authorized representative of Raymond James & Associates, Inc., as attorney-in-fact for Sean E Brynjelsen
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)