[Form 4] Nektar Therapeutics Insider Trading Activity

Rhea-AI Filing Summary

Robin W. Howard, President & CEO and director of Nektar Therapeutics (NKTR), sold a total of 11,832 shares of common stock under a Rule 10b5-1 trading plan on September 4-5, 2025. The sales were reported in several block transactions with weighted-average prices reported at $32.37, $33.54, $34.40, $35.80, $37.87, $38.82 and $39.89. Following these dispositions the reporting person beneficially owned 56,008 shares directly; an additional 28 shares are held indirectly by the reporting person’s spouse. The filer states the transactions were effected pursuant to a 10b5-1 plan and provides price ranges for each grouped trade.

Insights

Financial Analyst

TL;DR: Insider sales of 11,832 NKTR shares occurred under a 10b5-1 plan, reducing direct holdings to 56,008 shares; transactions span $32.01–$40.32.

The filing documents systematic disposals by the CEO and director executed under an established Rule 10b5-1 plan on September 4–5, 2025. The report aggregates multiple trades into seven grouped line items with weighted-average prices between $32.37 and $39.89 and disclosed underlying price ranges from $32.01 to $40.32. The filing is procedural and compliant: the 10b5-1 designation and price-range disclosures signal preplanned sales rather than ad-hoc disposals. No derivative transactions or other compensatory actions are reported.

Corporate Governance Expert

TL;DR: Report shows prearranged insider selling via 10b5-1 plan; disclosure appears complete and signed by attorney-in-fact.

The Form 4 indicates the reporting person is both an officer (President & CEO) and a director, and that the trades were made pursuant to a 10b5-1 trading plan, which provides an affirmative defense under Rule 10b5-1. The form lists the aggregated share disposals, remaining direct beneficial ownership, and an indirect 28-share holding by spouse. The form is signed by Mark A. Wilson as attorney-in-fact and includes explanatory price ranges for each grouped sale, meeting standard disclosure expectations for such filings.

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).

X

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^*

ROBIN HOWARD W

(Last) (First) (Middle)

C/O NEKTAR THERAPEUTICS

455 MISSION BAY BLVD SOUTH

(Street)

SAN FRANCISCO CA 94158

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEKTAR THERAPEUTICS [ NKTR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

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)	09/04/2025		S		1,923	D	$32.37(2)	65,917	D
Common Stock(1)	09/04/2025		S		1,496	D	$33.54(3)	64,421	D
Common Stock(1)	09/04/2025		S		613	D	$34.4(4)	63,808	D
Common Stock(1)	09/04/2025		S		1,134	D	$35.8(5)	62,674	D
Common Stock(1)	09/05/2025		S		3,304	D	$37.87(6)	59,370	D
Common Stock(1)	09/05/2025		S		2,226	D	$38.82(7)	57,144	D
Common Stock(1)	09/05/2025		S		1,136	D	$39.89(8)	56,008	D
Common Stock								28	I	by spouse

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

Explanation of Responses:

1. This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

2. This transaction was executed in multiple trades at prices ranging from $32.01 to $32.99 The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon the request to the SEC staff, the Issuer, or a security holder of the Issuer.

3. This transaction was executed in multiple trades at prices ranging from $33.02 to $33.99. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon the request to the SEC staff, the Issuer, or a security holder of the Issuer.

4. This transaction was executed in multiple trades at prices ranging from $34.05 to $34.99. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon the request to the SEC staff, the Issuer, or a security holder of the Issuer.

5. This transaction was executed in multiple trades at prices ranging from $35.35 to $36.11. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon the request to the SEC staff, the Issuer, or a security holder of the Issuer.

6. This transaction was executed in multiple trades at prices ranging from $37.50 to $38.26. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon the request to the SEC staff, the Issuer, or a security holder of the Issuer.

7. This transaction was executed in multiple trades at prices ranging from $38.50 to $39.37. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon the request to the SEC staff, the Issuer, or a security holder of the Issuer.

8. This transaction was executed in multiple trades at prices ranging from $39.50 to $40.32. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide full information regarding the number of shares and the prices at which the transactions were effected upon the request to the SEC staff, the Issuer, or a security holder of the Issuer.

	Mark A. Wilson, Attorney-in-Fact	09/08/2025
	** 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 trades did NKTR report on this Form 4?

Robin W. Howard sold 11,832 shares of Nektar Therapeutics common stock in several transactions on September 4–5, 2025, reported under a 10b5-1 plan.

Were the sales executed under a Rule 10b5-1 plan for NKTR insider Robin Howard?

Yes. The filing explicitly states the transactions were made pursuant to a Rule 10b5-1 trading plan.

How many NKTR shares does Robin Howard beneficially own after the reported sales?

56,008 shares directly following the reported transactions, plus 28 shares indirectly held by the reporting person’s spouse.

What price ranges were disclosed for the NKTR sales?

The filing discloses grouped trade price ranges from $32.01 to $40.32 and reports weighted-average prices for the groups between $32.37 and $39.89.

Who signed the Form 4 for these NKTR transactions?

Mark A. Wilson, Attorney-in-Fact, signed the Form 4 on 09/08/2025 on behalf of the reporting person.