InflaRx (IFRX) officer discloses vested and performance stock options

Rhea-AI Filing Summary

InflaRx N.V. officer Derval O’Carroll filed an initial ownership report showing multiple stock option awards over Ordinary Shares. The holdings include options granted between November 2022 and January 2025 that are already fully vested and exercisable, plus a January 2026 grant that vests quarterly, subject to continued service.

The filing also lists a performance stock option granted on January 6, 2026, which can vest in two 50% tranches if a specified financing event occurs before the fourth quarter of 2026 and if the average Ordinary Share price in quarter four 2026 exceeds $1.50.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider OCarroll Derval

Role See Remarks

Type	Security	Shares	Price	Value
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Performance Stock Option (Right to Buy)	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 20,000 shares (Direct); Performance Stock Option (Right to Buy) — 21,000 shares (Direct)

Footnotes (1)

1. This option was granted on November 21, 2022 and is fully vested and exercisable as of the date hereof. This option was granted on January 24, 2023 and is fully vested and exercisable as of the date hereof. This option was granted on January 5, 2024 and is fully vested and exercisable as of the date hereof. This option was granted on January 3, 2025 and is fully vested and exercisable as of the date hereof. This option was granted on January 6, 2026 and will vest and become exercisable in four equal installments of 17,500 shares on each quarterly anniversary of such grant date, subject to continued service through such dates. This option shall vest depending upon achievement of the following performance criteria: (i) 50% shall vest if a certain financing event takes place before the fourth quarter of 2026 and (ii) 50% shall vest if the average Ordinary Share price for quarter four of 2026 exceeds $1.50.

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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

OCarroll Derval

(Last) (First) (Middle)

C/O INFLARX N.V.

WINZERLAER STREET 2

(Street)

JENA 07745

(City) (State) (Zip)

GERMANY

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
InflaRx N.V. [ IFRX ]

3a. Foreign Trading Symbol

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(1)	11/21/2032	Ordinary Shares	20,000	$2.44	D
Stock Option (Right to Buy)	(2)	01/24/2033	Ordinary Shares	25,000	$2.37	D
Stock Option (Right to Buy)	(3)	01/05/2034	Ordinary Shares	45,000	$1.79	D
Stock Option (Right to Buy)	(4)	01/03/2035	Ordinary Shares	70,000	$2.41	D
Stock Option (Right to Buy)	(5)	01/06/2036	Ordinary Shares	70,000	$1.17	D
Performance Stock Option (Right to Buy)	(6)	01/06/2036	Ordinary Shares	21,000	$1.17	D

Explanation of Responses:

1. This option was granted on November 21, 2022 and is fully vested and exercisable as of the date hereof.

2. This option was granted on January 24, 2023 and is fully vested and exercisable as of the date hereof.

3. This option was granted on January 5, 2024 and is fully vested and exercisable as of the date hereof.

4. This option was granted on January 3, 2025 and is fully vested and exercisable as of the date hereof.

5. This option was granted on January 6, 2026 and will vest and become exercisable in four equal installments of 17,500 shares on each quarterly anniversary of such grant date, subject to continued service through such dates.

6. This option shall vest depending upon achievement of the following performance criteria: (i) 50% shall vest if a certain financing event takes place before the fourth quarter of 2026 and (ii) 50% shall vest if the average Ordinary Share price for quarter four of 2026 exceeds $1.50.

Remarks:

Senior Vice President, Global Head of Regulatory Affairs and Compliance Exhibit List - Exhibit 24.1 Power of Attorney

	/s/ Christian Schmid, Attorney-in-Fact	03/18/2026
	** 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 5 (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 3: SEC 1473 (03-26)

FAQ

What does InflaRx (IFRX) Form 3 for Derval O’Carroll report?

The Form 3 reports Derval O’Carroll’s existing stock option holdings in InflaRx. It lists several fully vested options granted from 2022 to 2025, plus 2026 time-based and performance-based options over Ordinary Shares with defined vesting and performance conditions.

Are the InflaRx (IFRX) options held by Derval O’Carroll already vested?

Several options are fully vested and exercisable, including grants dated November 21, 2022, January 24, 2023, January 5, 2024, and January 3, 2025. A January 6, 2026 grant vests in four equal quarterly installments, subject to continued service with InflaRx.

What are the performance conditions on Derval O’Carroll’s InflaRx (IFRX) options?

One performance stock option vests in two 50% tranches. Half vests if a specified financing event occurs before the fourth quarter of 2026, and half vests if the average Ordinary Share price in quarter four 2026 exceeds $1.50.

What exercise prices apply to Derval O’Carroll’s InflaRx (IFRX) stock options?

The disclosed stock options carry exercise prices of $2.44, $2.37, $1.79, $2.41, and $1.17 per Ordinary Share. Each series has its own expiration date between 2032 and 2036, as listed in the filing data.

When do Derval O’Carroll’s InflaRx (IFRX) options expire?

The options have staggered expiration dates from November 21, 2032 through January 6, 2036. Each grant’s expiration date is specified alongside its exercise price, reflecting the long-term nature of O’Carroll’s incentive alignment with InflaRx.