[Form 4] Nektar Therapeutics Insider Trading Activity

Rhea-AI Filing Summary

Nektar Therapeutics (NKTR) insider sale disclosed on Form 4. Jonathan Zalevsky, Chief R&D Officer, reported selling 485 shares of common stock on 09/02/2025 under a Rule 10b5-1 trading plan at a weighted average price of $30.10 per share. After the sale he beneficially owned 19,183 shares, held directly. The filing states the trades executed at prices ranging from $30.00 to $30.28 and the Form 4 was signed by an attorney-in-fact on 09/04/2025.

Positive

• Sale executed under a Rule 10b5-1 trading plan, which is disclosed in the Form 4 and supports compliance with insider-trading rules

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider sold a small block under a 10b5-1 plan; disclosure is routine and appears compliant.

The reported sale of 485 shares at a weighted average price of $30.10 is explicitly described as executed pursuant to a Rule 10b5-1 trading plan, which provides an affirmative defense to insider trading claims if the plan was adopted in good faith. The filing discloses the post-transaction beneficial ownership of 19,183 shares and specifies the trade price range ($30.00 to $30.28). There is no derivative activity reported. From a market-impact perspective, the transaction size appears immaterial relative to typical institutional trading volumes for a publicly traded biotechnology company.

Corporate Governance Expert

TL;DR: Proper Form 4 disclosure and a 10b5-1 plan indicate governance controls; transaction details are transparent.

The filing clearly marks the sale as occurring under a 10b5-1 plan and provides the weighted average sale price and price range, meeting disclosure standards. The use of an attorney-in-fact signature is noted. No amendments or derivative positions are reported. Based solely on the document, governance processes around insider trading appear to be followed; the filing contains the necessary specifics for stakeholders to assess compliance.

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^*

Zalevsky Jonathan

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief R&D Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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)	09/02/2025		S		485	D	$30.1(2)	19,183	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

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 $30.00 to $30.28 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	09/04/2025
	** 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 Jonathan Zalevsky sell in the NKTR Form 4?

He sold 485 shares of Nektar Therapeutics common stock on 09/02/2025.

At what price were the NKTR shares sold according to the filing?

The weighted average sale price was reported as $30.10 per share, with individual trades ranging from $30.00 to $30.28.

Was the NKTR insider sale part of a trading plan?

Yes. The Form 4 states the transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person.

How many NKTR shares does the reporting person own after the transaction?

The filing reports 19,183 shares beneficially owned following the reported sale.

Were any derivative securities reported in the Form 4 for NKTR?

No. Table II on the Form 4 contains no reported derivative transactions.