Nephros director acquires 43K shares in restructure

NEPHROS INC (NEPH) director Arthur H. Amron and affiliated entity Amron Holdings LLC reported acquiring a total of 43,295 shares of common stock on September 14, 2026 in entity-restructuring transactions coded as “J”.

Rhea-AI Filing Summary

NEPHROS INC (NEPH) director Arthur H. Amron and affiliated entity Amron Holdings LLC reported acquiring a total of 43,295 shares of common stock on September 14, 2026 in entity-restructuring transactions coded as “J”. Amron received 17,749 shares directly via an in-kind distribution from Wexford entities for no additional consideration, bringing his direct holdings to 158,623 shares.

Amron Holdings LLC acquired 2,836 shares through an in-kind distribution and 22,710 shares in a related sale from the Wexford entities at $3.95 per share, with sale proceeds distributed to underlying Wexford investors and no compensation to the Wexford entities. Arthur Amron, as controlling person of Amron Holdings, may be deemed to beneficially own the shares held by Amron Holdings and holds voting and dispositive power over them.

Insider Trade Summary

Other: 43,295 shares

Other 3 txns

Insider Amron Arthur H, Amron Holdings LLC

Role Director | Director

Type	Security	Shares	Price	Value
Other	Common Stock F1	17,749	$0.00	$0.00
Other	Common Stock F1, F2, F4	2,836	$0.00	$0.00
Other	Common Stock F3, F2, F4	22,710	$3.95	$90K

Holdings After Transaction: Common Stock — 158,623 shares (Direct); Common Stock — 25,546 shares (Indirect, See footnote)

Footnotes (4)

1. F1. Represents an in-kind distribution from Wexford Partners 11, L.P. ("WP11"), Wexford 11 Advisors LLC ("WP Advisors") and WPIC 2 LLC ("WPIC2", and together with WP11 and WP Advisors, the "Wexford Entities") that does not involve (i) a purchase or a sale of securities or (ii) any additional consideration.
2. F2. Represents the common stock of the Issuer held by Amron Holdings LLC ("Amron Holdings").
3. F3. Represents a sale of certain shares of common stock from the Wexford Entities to Amron Holdings, the proceeds of which were distributed to certain underlying investors of the Wexford Entities. No Wexford Entities shall receive any compensation, directly or indirectly, in connection with the transaction described herein.
4. F4. Arthur Amron may, by reason of his status as a controlling person of Amron Holdings, be deemed to own beneficially the securities held by Amron Holdings. Mr. Amron holds the power to vote and to dispose of the securities held by Amron Holdings.

Key Figures

Restructuring shares acquired: 43,295 shares Direct in-kind distribution to Arthur H. Amron: 17,749 shares Direct holdings after transaction: 158,623 shares +3 more

6 metrics

Restructuring shares acquired 43,295 shares Total shares involved in “J” code restructuring transactions on September 14, 2026

Direct in-kind distribution to Arthur H. Amron 17,749 shares Common stock received via in-kind distribution from Wexford entities at no additional consideration on September 14, 2026

Direct holdings after transaction 158,623 shares Arthur H. Amron’s direct Nephros common stock position following the in-kind distribution

Amron Holdings in-kind distribution 2,836 shares Shares of Nephros common stock received indirectly through an in-kind distribution tied to Wexford entities

Sale of shares to Amron Holdings 22,710 shares Common stock sold by Wexford entities to Amron Holdings at $3.95 per share

Price per share in sale to Amron Holdings $3.95 per share Per-share price for 22,710 Nephros shares sold by Wexford entities to Amron Holdings

Key Terms

in-kind distribution, beneficially own, controlling person, indirectly

4 terms

in-kind distribution financial

"Represents an in-kind distribution from Wexford Partners 11, L.P. ("WP11"), Wexford 11 Advisors"

A distribution of value to shareholders or beneficiaries made by transferring assets instead of paying cash, such as shares, bonds, or property. Like receiving a box of goods rather than money, it changes what you hold rather than adding liquid funds; investors care because it affects a portfolio’s composition, liquidity, tax reporting, and cost basis for the received assets.

beneficially own financial

"Arthur Amron may, by reason of his status as a controlling person of Amron Holdings, be deemed to own beneficially"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

controlling person financial

"Arthur Amron may, by reason of his status as a controlling person of Amron Holdings, be deemed"

A controlling person is an individual or entity that can direct a company’s decisions and strategy through ownership, voting power, board control, or other influence — like the captain of a ship who sets course. For investors, who holds that control matters because it shapes management choices, risk tolerance, potential conflicts of interest, and the likelihood of major actions such as mergers, dividend changes, or management shifts.

indirectly financial

"No Wexford Entities shall receive any compensation, directly or indirectly, in connection with the transaction"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did NEPH director Arthur H. Amron report on this Form 4 for NEPH?

He reported three “J” code transactions on September 14, 2026, acquiring in total 43,295 shares of Nephros common stock through in-kind distributions and a related sale involving Amron Holdings LLC and Wexford entities.

How many NEPH shares does Arthur H. Amron hold directly after these transactions?

After the in-kind distribution of 17,749 shares, Arthur H. Amron directly holds 158,623 shares of Nephros common stock as reported following the September 14, 2026 transaction.

What NEPH share transfers involved Amron Holdings LLC in this Form 4?

Amron Holdings LLC acquired 2,836 shares via an in-kind distribution and 22,710 shares in a sale from Wexford entities at $3.95 per share. The proceeds of that sale were distributed to underlying Wexford investors, with no compensation to the Wexford entities.

Did these NEPH transactions involve a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not checked, and the footnotes describe the transfers as in-kind distributions and a related sale between Wexford entities and Amron Holdings, rather than trades under a Rule 10b5-1 plan.

What is Arthur H. Amron’s relationship to the NEPH shares held by Amron Holdings LLC?

The filing states that Arthur Amron, as a controlling person of Amron Holdings LLC, may be deemed to beneficially own the Nephros shares held by Amron Holdings and holds the power to vote and dispose of those securities.

Were the NEPH in-kind distributions reported here purchases or sales?

No. A footnote explains the in-kind distributions from the Wexford entities do not involve a purchase or sale of securities and do not involve any additional consideration to the recipients.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 05:00 PM Accepted by SEC EDGAR 09/16/2026 - 04:59 PM Learn about SEC filing dates

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).

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^*

Amron Arthur H

(Last) (First) (Middle)

19 CHESTERFIELD ROAD

(Street)

SCARSDALE NEW YORK 10583

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NEPHROS INC [ NEPH ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

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

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	09/14/2026		J(1)		17,749	A	$0	158,623	D
Common Stock	09/14/2026		J(1)		2,836	A	$0	2,836(2)	I	See footnote(4)
Common Stock	09/14/2026		J(3)		22,710	A	$3.95	25,546(2)	I	See footnote(4)

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

1. Name and Address of Reporting Person^*

Amron Arthur H

(Last) (First) (Middle)

19 CHESTERFIELD ROAD

(Street)

SCARSDALE NEW YORK 10583

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Amron Holdings LLC

(Last) (First) (Middle)

19 CHESTERFIELD ROAD

(Street)

SCARSDALE NEW YORK 10583

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. Represents an in-kind distribution from Wexford Partners 11, L.P. ("WP11"), Wexford 11 Advisors LLC ("WP Advisors") and WPIC 2 LLC ("WPIC2", and together with WP11 and WP Advisors, the "Wexford Entities") that does not involve (i) a purchase or a sale of securities or (ii) any additional consideration.

2. Represents the common stock of the Issuer held by Amron Holdings LLC ("Amron Holdings").

3. Represents a sale of certain shares of common stock from the Wexford Entities to Amron Holdings, the proceeds of which were distributed to certain underlying investors of the Wexford Entities. No Wexford Entities shall receive any compensation, directly or indirectly, in connection with the transaction described herein.

4. Arthur Amron may, by reason of his status as a controlling person of Amron Holdings, be deemed to own beneficially the securities held by Amron Holdings. Mr. Amron holds the power to vote and to dispose of the securities held by Amron Holdings.

	Arthur H. Amron	09/16/2026
	Amron Holdings LLC, By: Arthur Amron, Manager	09/16/2026
	** 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 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.
* Form 4: SEC 1474 (03-26)