[Form 4] NEKTAR THERAPEUTICS Insider Trading Activity

Rhea-AI Filing Summary

NEKTAR THERAPEUTICS (NKTR) Form 4 summary: Director Greer R. Scott received a non-derivative award in the form of a stock option grant on 09/30/2025 for 8,000 options with a stated conversion/exercise price of $56.90. The reported option is exercisable beginning 09/29/2033 and the filing shows 8,000 shares benefically owned following the transaction, held directly. The filing notes the option vests in substantially equal monthly installments over the one-year period beginning on 09/30/2025. The form was signed by an attorney-in-fact on 10/01/2025. The document discloses a standard director compensation award rather than a sale or disposition.

Insights

Corporate Governance Expert

TL;DR

The Form 4 discloses a routine director stock option grant that aligns the director's interests with shareholders through equity compensation and contains a one-year monthly vesting schedule.

This award is recorded as direct ownership of 8,000 options with a specified exercise price of $56.90 and an exercisability date in 2033, consistent with long-dated option grants often used for retention and alignment. The one-year monthly vesting beginning on the grant date indicates near-term retention incentives. No dispositions or unusual derivative structures are reported.

Securities Analyst

TL;DR

The filing shows an 8,000-option grant to Director Greer R. Scott on 09/30/2025 with explicit terms; this is a disclosure of insider acquisition, not a sale.

The transaction code indicates an acquisition and the filing lists 8,000 options exercised/held following the grant. The documented exercise price and vesting schedule provide transparency on the compensation terms. The disclosure contains no market transaction (sale) or change to previously reported holdings beyond this grant.

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

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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).

1. Name and Address of Reporting Person^*

GREER R SCOTT

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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

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	$56.9	09/30/2025		A		8,000		(1)	09/29/2033	Common Stock	8,000	$0.00	8,000	D

Explanation of Responses:

1. This stock option vests in substantially equal monthly installments over the one-year period beginning on September 30, 2025.

	Mark A. Wilson, Attorney-in-Fact	10/01/2025
	** 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 transaction did Greer R. Scott report on Form 4 for NKTR?

The Form 4 reports an acquisition of 8,000 stock options on 09/30/2025 granted to Director Greer R. Scott.

What are the key terms of the option grant reported on NKTR Form 4?

The options have an exercise price of $56.90, vest in substantially equal monthly installments over one year beginning 09/30/2025, and are listed as exercisable on 09/29/2033.

How many shares does Greer R. Scott beneficially own after the reported transaction for NKTR?

The filing states 8,000 options (beneficial ownership of 8,000) following the reported transaction.

Was the Form 4 for NKTR filed individually or by multiple reporting persons?

The form indicates it was filed by one reporting person (Form filed by one reporting person checked).

Who signed the Form 4 filing for Greer R. Scott on behalf of the reporting person?

The filing was signed by Mark A. Wilson, Attorney-in-Fact on 10/01/2025.