[Form 4] Jasper Therapeutics, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Jasper Therapeutics director and President/CEO Ron Martell purchased 41,000 shares of voting common stock on 09/22/2025 as part of an underwritten public offering at a combined price of $2.43 per share with an accompanying warrant. Each purchased share was paired with a warrant to buy one additional share at an exercise price of $2.92, exercisable from 03/22/2026 through 03/22/2030.

After the transaction, Mr. Martell directly beneficially owned 74,118 shares of voting common stock. The Form 4 was signed by an attorney-in-fact on 09/24/2025. All information is taken directly from the Form 4 filing.

Positive

• Insider purchase: CEO and director acquired 41,000 shares, indicating direct participation in the offering
• Accompanying warrants: Each share was paired with a warrant exercisable at $2.92, potentially increasing future ownership
• Clear disclosure: Form 4 reports transaction details and post-transaction ownership of 74,118 shares

Negative

• None.

Insights

Securities Analyst

TL;DR: CEO/director purchased 41,000 shares with matching warrants in a public offering, increasing direct ownership to 74,118 shares.

The filing shows a meaningful insider purchase by the reporting person, executed through the companys underwritten offering on 09/22/2025 at $2.43 per share-plus-warrant. The structure paired each share with a warrant exercisable at $2.92 starting 03/22/2026 through 03/22/2030. The transaction is reported as direct ownership and increases the reporting persons stake to 74,118 voting shares. From a disclosure standpoint, the Form 4 is routine and correctly reports both the equity and associated warrants.

Corporate Governance Expert

TL;DR: Insider participation in the offering aligns management with the transaction; report is properly disclosed as direct ownership.

The report identifies the reporting person as both a director and the companys President and CEO, and shows direct acquisition of 41,000 share-warrant units in the underwritten offering. The filing includes the warrant terms and post-transaction beneficial ownership, and it is signed via attorney-in-fact. There are no additional governance flags or amendments noted in the provided content.

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

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).

1. Name and Address of Reporting Person^*

MARTELL RON

(Last) (First) (Middle)

C/O JASPER THERAPEUTICS, INC.

2200 BRIDGE PKWY, SUITE #102

(Street)

REDWOOD CITY CA 94065

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Jasper Therapeutics, Inc. [ JSPR ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025

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
Voting Common Stock	09/22/2025		P		41,000	A	$2.43(1)	74,118	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
Common Stock Warrant (right to buy)	$2.92	09/22/2025		P		41,000		03/22/2026	03/22/2030	Voting Common Stock	41,000	(1)	41,000	D

Explanation of Responses:

1. Each share of voting common stock was purchased together with an accompanying warrant to purchase one share of voting common stock in an underwritten public offering at a combined offering price of $2.43 per share of voting common stock and accompanying warrant.

	/s/ Herb Cross, as Attorney-in-Fact	09/24/2025
	** 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 did Jasper Therapeutics (JSPR) insider Ron Martell purchase on 09/22/2025?

Mr. Martell purchased 41,000 shares of voting common stock paired with warrants in an underwritten public offering.

At what price were the shares and warrants purchased in the JSPR offering?

The combined offering price for each share and accompanying warrant was $2.43 per unit.

What are the terms of the warrants acquired with the JSPR shares?

Each warrant has an exercise price of $2.92, becomes exercisable on 03/22/2026, and expires on 03/22/2030.

How many JSPR shares does Ron Martell beneficially own after the transaction?

Following the reported transaction, Mr. Martell directly beneficially owned 74,118 shares of voting common stock.

Who signed the Form 4 filing for Ron Martell's transaction?

The filing was signed by Herb Cross, as Attorney-in-Fact on 09/24/2025.