Eton Pharmaceuticals (ETON) director gets new equity grants awards

Rhea-AI Filing Summary

Eton Pharmaceuticals director Norbert G. Riedel reported new equity compensation grants. On January 12, 2026, he was granted options to purchase 12,196 shares of common stock at an exercise price of $15.47 per share. These options vest quarterly over 12 months from the grant date and are scheduled to be fully vested and exercisable by January 12, 2027.

On the same date, he also received 7,757 restricted stock units (RSUs), each representing a contingent right to receive one share of Eton common stock. The RSUs vest in four equal annual installments beginning January 12, 2027, contingent on his continued service with the company on each vesting date. Following these grants, he beneficially owns 294,253 derivative securities directly.

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^*

RIEDEL NORBERT G

(Last) (First) (Middle)

C/O ETON PHARMACEUTICALS, INC.

21925 W. FIELD PARKWAY, SUITE 235

(Street)

DEERPARK IL 60010-7208

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Eton Pharmaceuticals, Inc. [ ETON ]

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)
01/12/2026

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

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
Employee Stock Option (Right to Buy)	$15.47	01/12/2026		A		12,196		(1)	01/11/2036	Common Stock	12,196	$0	286,496	D
Restricted Stock Units	(2)	01/12/2026		A		7,757		(3)	(3)	Common Stock	7,757	$0	294,253	D

Explanation of Responses:

1. The shares subject to the option shall vest on a quarterly basis over 12 months from the date of grant until fully vested and exercisable on January 12, 2027.

2. Each restricted stock unit represents a contingent right to receive one share of ETON Common Stock.

3. The restricted stock units vest in four equal annual installments beginning January 12, 2027, contingent upon the reporting person being employed by the issuer on the date(s) of vesting.

Remarks:

The reporting person has authorized and designated the named person to file this Form 4 on the reporting person's behalf for indefinite duration.

	/s/ James R. Gruber	12/14/2025
	** 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 insider transaction did ETON director Norbert G. Riedel report?

Director Norbert G. Riedel reported receiving new equity awards from Eton Pharmaceuticals on January 12, 2026, including stock options and restricted stock units.

How many ETON stock options were granted to the director and at what price?

He was granted 12,196 employee stock options with an exercise price of $15.47 per share, giving him the right to buy Eton Pharmaceuticals common stock at that price once vested.

What are the vesting terms for Norbert G. Riedel’s ETON stock options?

The options vest on a quarterly basis over 12 months from the January 12, 2026 grant date and are expected to be fully vested and exercisable by January 12, 2027.

How many restricted stock units (RSUs) did the ETON director receive and what do they represent?

He received 7,757 restricted stock units, and each RSU represents a contingent right to receive one share of Eton Pharmaceuticals common stock.

When do the ETON restricted stock units granted to the director vest?

The RSUs vest in four equal annual installments beginning on January 12, 2027, and vesting is contingent on the director being employed by Eton Pharmaceuticals on each vesting date.

How many derivative securities does the ETON director own after these grants?

After the reported transactions, Norbert G. Riedel beneficially owns 294,253 derivative securities of Eton Pharmaceuticals directly.