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Eton Pharmaceuticals (ETON) grants 10,000 performance-vested RSUs to director

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Form Type
4

Rhea-AI Filing Summary

MAIER PAUL V reported acquisition or exercise transactions in this Form 4 filing.

Eton Pharmaceuticals director Paul V Maier received a grant of 10,000 performance-vested restricted stock units on July 31, 2026 under the company’s 2018 equity incentive plan. Each unit equals one share and vests in full if the stock’s closing price reaches $72.36 for one trading day before July 31, 2029; otherwise the award is forfeited. After the grant, he holds 10,000 units, the maximum and only number of shares issuable under this award.

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Insider MAIER PAUL V
Role Director
Type Security Shares Price Value
Grant/Award Common Stock F1 10,000 $0.00 $0.00
Holdings After Transaction: Common Stock — 10,000 shares (Direct)
Footnotes (1)
  1. F1. On July 31, 2026, the reporting person was granted 10,000 performance-vested restricted stock units granted under the Issuer's 2018 equity incentive plan. Each restricted stock unit represents the right to acquire one share of Issuer common stock. The award vests in full, and all restrictions lapse, immediately upon the closing price of the Issuer's common stock equaling or exceeding $72.36 per share for one trading day at any time prior to the third anniversary of the grant date. If this market condition is not satisfied prior to such date, the award will be forfeited in its entirety without consideration on July 31, 2029.The number of shares reported reflects the maximum and only number of shares issuable under the award; there is no target, threshold, or maximum range.
RSUs granted 10,000 units Performance-vested restricted stock units granted on July 31, 2026
Vesting share price condition $72.36 per share Closing price required for one trading day for the award to vest in full
Award forfeiture date July 31, 2029 Date the award is forfeited if the market condition is not satisfied
Post-grant holdings 10,000 units Total units held following the reported grant
Underlying share ratio 1 share per unit Each restricted stock unit represents the right to acquire one share of common stock
performance-vested restricted stock units financial
"the reporting person was granted 10,000 performance-vested restricted stock units"
equity incentive plan financial
"restricted stock units granted under the Issuer's 2018 equity incentive plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
market condition financial
"If this market condition is not satisfied prior to such date, the award will be forfeited"
closing price financial
"upon the closing price of the Issuer's common stock equaling or exceeding $72.36"

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

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FAQ

What insider transaction did ETON director Paul V Maier report?

Paul V Maier reported receiving a grant of 10,000 performance-vested restricted stock units from Eton Pharmaceuticals. The grant was made on July 31, 2026 under the 2018 equity incentive plan and represents the right to acquire up to 10,000 shares of common stock.

What are the vesting conditions for Paul V Maier’s 10,000 ETON restricted stock units?

The 10,000 restricted stock units vest in full only if Eton Pharmaceuticals’ stock closing price equals or exceeds $72.36 per share for one trading day. This market condition must be met before July 31, 2029, the third anniversary of the grant date.

What happens to Paul V Maier’s ETON award if the $72.36 price condition is not met?

If the $72.36 per share market condition is not satisfied for one trading day before July 31, 2029, the entire 10,000-unit award is forfeited without consideration. No shares are issued to Maier if the condition is not achieved in time.

How many ETON shares can Paul V Maier ultimately receive from this award?

The award allows Maier to receive a maximum of 10,000 shares of Eton Pharmaceuticals common stock. Each restricted stock unit represents the right to acquire one share, and the number reported already reflects the maximum and only shares issuable under this grant.

Does Paul V Maier pay anything per share for his ETON restricted stock units?

The reported grant shows a per-share price of $0.00, meaning Maier is not paying cash to receive the 10,000 restricted stock units. Instead, the units are subject to the $72.36 stock price market vesting condition before they can convert into shares.

Under which plan were Paul V Maier’s ETON restricted stock units granted?

The 10,000 performance-vested restricted stock units were granted under Eton Pharmaceuticals’ 2018 equity incentive plan. This plan governs the terms of the award, including the one-for-one share conversion and the $72.36 market condition vesting requirement.
SEC Form 4
FORM 4UNITED 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*
MAIER PAUL V

(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/31/2026
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Common Stock(1)07/31/2026A10,000 (1) (1)Common Stock10,000$010,000D
Explanation of Responses:
1. On July 31, 2026, the reporting person was granted 10,000 performance-vested restricted stock units granted under the Issuer's 2018 equity incentive plan. Each restricted stock unit represents the right to acquire one share of Issuer common stock. The award vests in full, and all restrictions lapse, immediately upon the closing price of the Issuer's common stock equaling or exceeding $72.36 per share for one trading day at any time prior to the third anniversary of the grant date. If this market condition is not satisfied prior to such date, the award will be forfeited in its entirety without consideration on July 31, 2029.The number of shares reported reflects the maximum and only number of shares issuable under the award; there is no target, threshold, or maximum range.
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 Matthews08/04/2026
** Signature of Reporting PersonDate
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)