Director John Micek granted stock options and RSUs at Jaguar Health (JAGX)

Rhea-AI Filing Summary

Jaguar Health director John Micek received equity awards as board compensation. On December 11, 2025 he was granted stock options for 7,377 shares of common stock at an exercise price of $1.44 per share, expiring on December 11, 2035, under the 2014 Stock Incentive Plan. The options vest monthly over 12 months while he continues serving on the boards of Jaguar Health and its subsidiary Napo Therapeutics.

On the same date he also received 7,377 restricted stock units, each representing one share of common stock, which vest on December 11, 2026. After the grant he directly holds 7,430 common shares, and the vested RSU shares will be delivered on the vesting date specified in the grant notice.

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

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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^*

MICEK JOHN

(Last) (First) (Middle)

C/O JAGUAR HEALTH, INC.

200 PINE ST., STE 400

(Street)

SAN FRANCISCO CA 94104

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Jaguar Health, Inc. [ JAGX ]

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)
12/11/2025

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
Common Stock(1)	12/11/2025(2)(3)		A		7,377	A	$0	7,430(4)(5)	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
Stock Option (right to buy)(1)	$1.44	12/11/2025(2)		A		7,377		(6)	12/11/2035	Common Stock	7,377	$0	7,377	D

Explanation of Responses:

1. Granted pursuant to the issuer's 2014 Stock Incentive Plan.

2. The restricted stock unit and option grants were approved by the issuer's board of directors on December 11, 2025.

3. Each restricted stock unit represents a contingent right to receive one share of the issuer's voting common stock. The restricted stock units vest on December 11, 2026. Vested shares will be delivered to the reporting on the vesting date provided in the grant notice.

4. On May 23, 2024, the issuer effected a 60-for-1 reverse stock split of the issued and outstanding shares of its voting common stock (the "2024 Reverse Stock Split"). Upon effectiveness of the 2024 Reverse Stock Split, every 60 shares of voting common stock was automatically converted into one share of voting common stock.

5. On March 24, 2025, the issuer effected a 25-for-1 reverse stock split of the issued and outstanding shares of its voting common stock (the "2025 Reverse Stock Split"). Upon effectiveness of the 2025 Reverse Stock Split, every 25 shares of voting common stock was automatically converted into one share of voting common stock.

6. The options will vest ratably on a monthly basis over 12 months from the grant date, so long as the reporting person continues to serve on the board of directors of the issuer and Napo Therapeutics, S.p.A., the issuer's subsidiary, as applicable.

	/s/ John Micek	12/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Jaguar Health (JAGX) report for John Micek?

Jaguar Health reported that director John Micek received equity awards, not open-market trades. He was granted 7,377 stock options and 7,377 restricted stock units on December 11, 2025, as part of board compensation approved by the company’s board of directors.

How many Jaguar Health (JAGX) stock options did John Micek receive?

John Micek received stock options for 7,377 shares of Jaguar Health common stock. These options carry an exercise price of $1.44 per share, were granted under the 2014 Stock Incentive Plan, and expire on December 11, 2035, providing long-dated incentive-based compensation.

What are the vesting terms of John Micek’s Jaguar Health (JAGX) stock options?

Micek’s options vest ratably on a monthly basis over 12 months from the December 11, 2025 grant date. Vesting continues only while he serves on the boards of Jaguar Health and its subsidiary Napo Therapeutics, aligning ongoing board service with gradual option ownership.

What restricted stock units did John Micek receive from Jaguar Health (JAGX)?

He received 7,377 restricted stock units, each representing a contingent right to one share of Jaguar Health voting common stock. These RSUs vest on December 11, 2026, with vested shares delivered to him on the vesting date specified in the applicable grant notice.

How many Jaguar Health (JAGX) common shares does John Micek hold after these grants?

Following the December 11, 2025 awards, Micek directly holds 7,430 shares of Jaguar Health common stock. This figure reflects his non-derivative ownership after the restricted stock unit grant recorded in the filing, separate from the newly granted but unexercised stock options.

Were John Micek’s Jaguar Health (JAGX) equity awards part of a compensation plan?

Yes. The stock options were granted pursuant to Jaguar Health’s 2014 Stock Incentive Plan, and both the restricted stock unit and option grants were approved by the board of directors on December 11, 2025, as structured equity compensation for his board service responsibilities.