NEPH Form 4: Director awarded 5,391 shares; options detailed

Rhea-AI Filing Summary

Nephros (NEPH) Form 4: A director reported acquiring 5,391 shares of common stock on 11/10/2025 at a price of $0. Following this transaction, the director beneficially owned 131,272 shares directly.

The filing also lists outstanding stock options: 7,323 options with a $2.14 exercise price expiring 05/14/2034 and 7,050 options with a $1.47 exercise price expiring 01/01/2035. The vesting schedules include 2,441 shares on each of 5/14/24, 5/14/25, and 5/14/26 for the first grant, and 2,350 shares on each of 1/1/25, 1/1/26, and 1/1/27 for the second.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Amron Arthur H

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,391	$0.00	--
holding	Stock Option (Right to Buy)	--	--	--
holding	Stock Option (Right to Buy)	--	--	--

Holdings After Transaction: Common Stock — 131,272 shares (Direct); Stock Option (Right to Buy) — 7,323 shares (Direct)

Footnotes (1)

1. This option vests as to 2,441 shares on each of 5/14/24, 5/14/25 and 5/14/26. This option vests as to 2,350 shares on each of 1/1/25, 1/1/26 and 1/1/27.

Form 4 Insider Transactions: What Each Field Means →

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)

C/O NEPHROS, INC., 380 LACKAWANNA PLACE

(Street)

SOUTH ORANGE NJ 07079

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
11/10/2025

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	11/10/2025		A		5,391	A	$0	131,272	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)	$2.14							(1)	05/14/2034	Common Stock	7,323		7,323	D
Stock Option (Right to Buy)	$1.47							(2)	01/01/2035	Common Stock	7,050		7,050	D

Explanation of Responses:

1. This option vests as to 2,441 shares on each of 5/14/24, 5/14/25 and 5/14/26.

2. This option vests as to 2,350 shares on each of 1/1/25, 1/1/26 and 1/1/27.

	/s/ Arthur H. Amron	11/13/2025
	** 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 NEPH’s director report on Form 4?

The director acquired 5,391 shares of common stock on 11/10/2025 at a price of $0.

How many NEPH shares does the director hold after the transaction?

The director beneficially owned 131,272 shares directly following the reported transaction.

What stock options are reported in the filing?

Two grants: 7,323 options at $2.14 expiring 05/14/2034, and 7,050 options at $1.47 expiring 01/01/2035.

What are the vesting schedules for the options?

First grant vests 2,441 shares on 5/14/24, 5/14/25, 5/14/26. Second grant vests 2,350 shares on 1/1/25, 1/1/26, 1/1/27.

What is the reporter’s relationship to Nephros (NEPH)?

The reporting person is a Director of Nephros.

Is the filing for one reporting person or a group?

It is filed by one reporting person.