[Form 4] Jaguar Health, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jonathan S. Wolin, Chief of Staff, Chief Compliance Officer and General Counsel of Jaguar Health (JAGX), reported significant changes in derivative securities holdings on June 24, 2025:

• Disposed of an existing 6% convertible promissory note due 6/30/2025 (Original Note) in exchange for a new note through an issuer exchange offer
• Received a new 6% convertible promissory note maturing 1/30/2026, convertible into 9,462 shares of common stock at $5.555 per share
• As inducement, received a warrant to purchase 18,262 shares at $2.70 per share, exercisable upon stockholder approval and expiring after 18 months

This transaction represents a restructuring of the executive's convertible debt holdings, extending the maturity date by 7 months and providing additional equity exposure through warrants. The new note's conversion terms and warrant structure suggest potential upside participation in the company's future performance.

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^*

Wolin Jonathan S.

(Last) (First) (Middle)

C/O JAGUAR HEALTH, INC.

200 PINE STREET, SUITE 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

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

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
Convertible Promissory Note	$5.555	06/24/2025		D			9,000	(1)	(1)	Common Stock	9,000	$50,000(1)	0	D
Convertible Promissory Note	$5.555	06/24/2025		A		9,462		(1)	(1)	Common Stock	9,462	$50,000(1)	9,462	D
Warrant to Purchase Common Stock	$2.7	06/24/2025		A		18,262		(2)	12/24/2026	Common Stock	18,262	(2)	9,000	D

Explanation of Responses:

1. The reporting person disposed of a 6% convertible promissory note maturing on 6/30/2025 (the "Original Note") that was originally issued to pursuant to a securities purchase agreement between Jaguar Health, Inc. (the "Company") and the reporting person dated March 26, 2025 in exchange for a new 6% convertible promissory note that matures on 1/30/2026 (the "New Note") in an issuer exchange offer. The New Note is convertible, at the reporting person's option, in part or in full, into an aggregate of 9,462 shares of the Company's voting common stock, par value $0.0001 per share (the "Common Stock"), at a conversion price of $5.555 per share.

2. As an inducement to enter into the issuer exchange offer, the reporting person received a warrant (the "Warrant") to purchase up to 18,262 shares of Common Stock with an exercise price of $2.70 per share. The Warrant is exercisable immediately upon receipt of stockholder approval and will expire on the earlier of (i) 18 months from the date of issuance, (ii) the consummation of a fundamental transaction and (iii) the consummation of a liquidation event.

Remarks:

Chief of Staff, Chief Compliance Officer and General Counsel

	/s/ Jonathan S. Wolin	06/26/2025
	** 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 JAGX's Jonathan Wolin report on Form 4?

Jonathan Wolin, JAGX's Chief of Staff, Chief Compliance Officer and General Counsel, exchanged his original 6% convertible promissory note for a new note and received a warrant. He disposed of a note convertible to 9,000 shares and received a new note convertible to 9,462 shares, plus a warrant to purchase 18,262 shares.

What are the terms of JAGX's new convertible note issued to Jonathan Wolin?

The new 6% convertible promissory note matures on January 30, 2026, and is convertible into 9,462 shares of JAGX common stock at a conversion price of $5.555 per share. This note was issued in exchange for an original note that was set to mature on June 30, 2025.

What warrant did JAGX issue to Jonathan Wolin as part of the exchange?

As an inducement for the exchange, JAGX issued Wolin a warrant to purchase 18,262 shares of common stock at an exercise price of $2.70 per share. The warrant expires in 18 months from issuance (December 24, 2026), and becomes exercisable upon stockholder approval.

What positions does Jonathan Wolin hold at JAGX?

Jonathan Wolin serves as Chief of Staff, Chief Compliance Officer and General Counsel at Jaguar Health, Inc. (JAGX).