Jaguar Health (JAGX) director discloses 7,377-share stock and option grants

Rhea-AI Filing Summary

Jaguar Health director Jonathan B. Siegel reported receiving new equity awards under the company’s 2014 Stock Incentive Plan. The filing shows 7,377 restricted stock units and a stock option covering 7,377 shares of common stock, both granted on 12/11/2025 at no cost for the awards themselves, with the option carrying a $1.44 exercise price and expiring on 12/11/2035.

The restricted stock units are scheduled to vest on 12/11/2026, while the options vest ratably on a monthly basis over 12 months from the grant date, contingent on his continued board service at Jaguar Health and its subsidiary Napo Therapeutics, S.p.A. Following these grants, he directly beneficially owned 7,423 shares of Jaguar Health common stock.

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

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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^*

Siegel Jonathan B.

(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	7,423(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/ Jonathan B. Siegel	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 equity awards did Jaguar Health (JAGX) disclose for Jonathan B. Siegel?

The filing reports that director Jonathan B. Siegel received 7,377 restricted stock units and a stock option for 7,377 shares of common stock, both granted on 12/11/2025 under Jaguar Health’s 2014 Stock Incentive Plan.

When do the restricted stock units granted to the Jaguar Health director vest?

Each restricted stock unit represents a right to receive one share of voting common stock and is scheduled to vest on 12/11/2026, with vested shares delivered on the vesting date stated in the grant notice.

What is the vesting schedule and key terms of the stock options reported by Jaguar Health (JAGX)?

The stock option has an exercise price of $1.44 per share and expires on 12/11/2035. The options vest ratably on a monthly basis over 12 months from the 12/11/2025 grant date, as long as the director continues serving on the boards of Jaguar Health and Napo Therapeutics, S.p.A.

How many Jaguar Health shares does the director beneficially own after these grants?

After the reported transactions, Jonathan B. Siegel is shown as directly beneficially owning 7,423 shares of Jaguar Health common stock.

Under which equity plan were the reported Jaguar Health (JAGX) awards granted?

The restricted stock units and stock options were granted pursuant to Jaguar Health’s 2014 Stock Incentive Plan, as noted in the footnotes.

What reverse stock splits of Jaguar Health are referenced in this insider filing?

The footnotes state that Jaguar Health effected a 60-for-1 reverse stock split on 05/23/2024 and a 25-for-1 reverse stock split on 03/24/2025, each converting multiple shares of voting common stock into one share.