Nektar Therapeutics (NKTR) CEO reports RSU and stock option grants

Rhea-AI Filing Summary

Nektar Therapeutics reported equity awards to its President & CEO and director on December 22, 2025. The executive received 21,667 shares of common stock through a grant of restricted stock units (RSUs) at a stated price of $0. Each RSU converts into one share of common stock as it vests.

The RSUs vest over four years from the grant date in substantially equal quarterly installments, conditioned on continued service. The filing shows the executive beneficially owning 75,912 shares directly after the transaction and 28 shares indirectly through a spouse. In addition, the executive was granted 86,667 stock options with an exercise price of $43.48, expiring on December 21, 2033, which vest over four years in substantially equal monthly installments based on continued service.

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

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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^*

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)
12/22/2025

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
Common Stock(1)	12/22/2025		A		21,667	A	$0	75,912	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
Stock Option	$43.48	12/22/2025		A		86,667		(2)	12/21/2033	Common Stock	86,667	$0	86,667	D

Explanation of Responses:

1. Common stock was acquired pursuant to a grant of restricted stock units ("RSU"). Each RSU awarded represents a contingent right to receive, upon vesting of the unit, one share of Common Stock of the Issuer. These RSUs vest over four years from the date of grant (December 22, 2025) in substaintially equal quarterly installments based on continued service.

2. Stock options vest over four years from the date of grant, (December 22, 2025) in substantially equal monthly installments based on continued service.

	Mark A. Wilson, Attorney-in-Fact	12/23/2025
	** 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).
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FAQ

What insider transaction did Nektar Therapeutics (NKTR) report in this Form 4?

The filing reports that Nektar Therapeutics' President & CEO and director received 21,667 shares of common stock via a restricted stock unit (RSU) grant and 86,667 stock options on December 22, 2025.

How do the new RSUs for the Nektar (NKTR) CEO vest?

The 21,667 RSUs vest over four years from December 22, 2025 in substantially equal quarterly installments, subject to continued service.

What are the terms of the new stock options granted to the Nektar (NKTR) CEO?

The CEO received 86,667 stock options with an exercise price of $43.48 per share. These options vest over four years from December 22, 2025 in substantially equal monthly installments and expire on December 21, 2033.

How many Nektar Therapeutics shares does the reporting person own after this transaction?

After the reported transactions, the executive beneficially owns 75,912 shares of Nektar Therapeutics common stock directly and 28 shares indirectly through a spouse.

What role does the reporting person hold at Nektar Therapeutics (NKTR)?

The reporting person is both a Director and an Officer of Nektar Therapeutics, serving as President & CEO.

Are the RSU and option awards to the Nektar CEO performance-based?

The disclosure states that both the RSUs and stock options vest over four years based on continued service; no additional performance conditions are described.