Eton CBO sells 25K shares after option exercise

Eton Pharmaceuticals, Inc. (ETON) reported insider equity activity by Chief Business Officer David Krempa.

Rhea-AI Filing Summary

Eton Pharmaceuticals, Inc. (ETON) reported insider equity activity by Chief Business Officer David Krempa. On 2026-08-24 he exercised an Employee Stock Option to acquire 25,000 shares of common stock at an exercise price of $7.31 per share, reducing that option position to 70,000 options remaining. The resulting 25,000 common shares were then sold in market transactions at a weighted average price of $65.07 per share, with individual sale prices ranging from $64.88 to $65.57. The option originally granted on 2019-02-20 vested in 48 equal monthly installments and expires on 2029-02-19. The filing indicates these transactions were not made pursuant to a Rule 10b5-1 trading plan.

Insider Trade Summary

Exercise and Sale: 25,000 shares ($1.44M approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Krempa David

Role Chief Business Officer

Sold 25,000 shs ($1.63M)

Approx. gross sale proceeds $1.63M

Approx. exercise cost $183K

Approx. pre-tax spread $1.44M

Type	Security	Shares	Price	Value
Exercise	Employee Stock Option F3	25,000	$0.00	$0.00
Exercise	Common Stock	25,000	$7.31	$183K
Sale	Common Stock F1, F2	25,000	$65.07	$1.63M

Holdings After Transaction: Employee Stock Option — 70,000 contracts (Direct); Common Stock — 37,025 shares (Direct)

Footnotes (3)

1. F1. The Reporting Person will provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.
2. F2. The shares were sold in multiple trades at prices ranging from $64.88 to $65.57. The price reported above reflects the weighted average sales price.
3. F3. The shares subject to the option vested in 48 equal monthly installments from the date of grant (2-20-2019) until fully vested.

Key Figures

Options exercised: 25,000 shares Exercise price: $7.31 per share Shares sold: 25,000 shares +4 more

7 metrics

Options exercised 25,000 shares Employee Stock Option for ETON common stock exercised on 2026-08-24

Exercise price $7.31 per share Exercise price of Employee Stock Option granted 2019-02-20

Shares sold 25,000 shares ETON common stock sold on 2026-08-24 following option exercise

Weighted average sales price $65.07 per share Weighted average price for multiple sale trades ranging from $64.88 to $65.57

Remaining options 70,000 options Employee Stock Options beneficially owned after the derivative transaction

Option grant date 2019-02-20 Grant date of the exercised Employee Stock Option

Option expiration date 2029-02-19 Expiration date of the Employee Stock Option

Key Terms

Employee Stock Option, weighted average sales price, vested in 48 equal monthly installments, Rule 10b5-1 trading plan

4 terms

Employee Stock Option financial

"The reporting person exercised an Employee Stock Option covering 25,000 shares"

An employee stock option is a promise that lets a worker buy company shares later at a predetermined price, often after they stay for a certain period or meet performance goals — think of it like a coupon that locks in today's price for a future purchase. It matters to investors because options align employees’ incentives with company performance, can increase the number of shares outstanding (dilution) when exercised, and represent a compensation cost that affects reported profits and shareholder value.

weighted average sales price financial

"The shares were sold in multiple trades at prices...weighted average sales price"

vested in 48 equal monthly installments financial

"The shares subject to the option vested in 48 equal monthly installments"

Rule 10b5-1 trading plan regulatory

"The filing indicates these transactions were not made pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

FAQ

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

What insider transactions did ETON report for David Krempa on 2026-08-24?

On 2026-08-24, Chief Business Officer David Krempa exercised 25,000 stock options for ETON common shares at $7.31 per share and then sold 25,000 common shares in market transactions at a weighted average price of $65.07 per share.

At what prices were David Krempa’s ETON shares sold?

The 25,000 ETON common shares were sold at a weighted average price of $65.07 per share. According to the filing, the individual sale prices for these multiple trades ranged from $64.88 to $65.57 per share.

What were the terms of the ETON stock options David Krempa exercised?

The exercised ETON Employee Stock Option covered 25,000 underlying shares at an exercise price of $7.31 per share, was granted on 2019-02-20, vested in 48 equal monthly installments from that date, and has an expiration date of 2029-02-19.

How many ETON options does David Krempa hold after these transactions?

After the reported option exercise on 2026-08-24, David Krempa holds 70,000 Employee Stock Options tied to ETON common stock, as stated by the total derivative securities beneficially owned following the transaction.

Were David Krempa’s ETON transactions under a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not marked, and there is no footnote stating that the 2026-08-24 transactions in ETON securities were executed pursuant to a Rule 10b5-1 trading plan.

What is the economic effect of David Krempa’s 2026-08-24 ETON transactions?

David Krempa exercised 25,000 stock options at $7.31 and sold 25,000 shares at a weighted average of $65.07, representing a net disposition of 25,000 ETON common shares on that date while retaining derivative exposure through remaining options.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 08/24/2026 - 05:20 PM EDT Accepted by SEC EDGAR 08/24/2026 - 05:19 PM EDT Learn about SEC filing dates

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^*

Krempa David

(Last) (First) (Middle)

C/O ETON PHARMACEUTICALS, INC.

21925 W. FIELD PARKWAY, SUITE 235

(Street)

DEERPARK ILLINOIS 60010-7208

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/24/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	08/24/2026		M		25,000	A	$7.31	62,025	D
Common Stock	08/24/2026		S		25,000	D	$65.07(1)(2)	37,025	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
Employee Stock Option	$7.31	08/24/2026		M			25,000	02/20/2019(3)	02/19/2029	Common Stock	25,000	$0	70,000	D

Explanation of Responses:

1. The Reporting Person will provide upon request by the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.

2. The shares were sold in multiple trades at prices ranging from $64.88 to $65.57. The price reported above reflects the weighted average sales price.

3. The shares subject to the option vested in 48 equal monthly installments from the date of grant (2-20-2019) until fully vested.

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/ Judith Matthews	08/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)