[Form 4] NRX Pharmaceuticals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Chaim Hurvitz, a director of NRX Pharmaceuticals, Inc. (NRXP), was granted 25,000 stock options on 04/09/2025 under the Issuer's 2021 Omnibus Incentive Plan. The options have an exercise price of $1.7297 per share, a ten-year term expiring on 04/09/2035, and vest on 04/09/2026 subject to continued service. Following the reported transaction the filing indicates Hurvitz beneficially owns 25,000 underlying shares through these options. The Form 4 is filed individually and is signed by the reporting person on 09/10/2025.

Positive

• 25,000 stock options granted to Director Chaim Hurvitz are explicitly documented
• Options granted under the 2021 Omnibus Incentive Plan, showing use of an established plan
• Clear vesting date of 04/09/2026 and explicit exercise price of $1.7297 provide transparent terms

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received a time‑based option grant with a one‑year vesting cliff, standard for aligning long‑term service.

The Form 4 documents a non-derivative reporting of a stock option issuance to Director Chaim Hurvitz for 25,000 options under the 2021 Omnibus Incentive Plan with a $1.7297 exercise price and a 10‑year contractual life. Vesting is scheduled for one year from grant, conditional on continued service. This disclosure is routine for executive and director compensation and informs shareholders about potential future dilution and incentive alignment.

Compensation Analyst

TL;DR: Grant structure is straightforward: fixed strike, one‑year vesting, long exercise window; typical compensation mechanics disclosed.

The filing specifies the grant terms clearly: 25,000 options exercisable into common stock, $0 listed as the reported underlying price for the shares delivered upon exercise in the table, and $1.7297 as the option exercise price. The vesting date is 04/09/2026 and expiration is 04/09/2035. As a Form 4 disclosure, this documents insider compensation and ownership changes required under Section 16.

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^*

Hurvitz Chaim

(Last) (First) (Middle)

C/O NRX PHARMACEUTICALS, INC.

1201 ORANGE AVENUE, SUITE 600

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NRX Pharmaceuticals, Inc. [ NRXP ]

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)
04/09/2025

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 (right to buy)	$1.7297	04/09/2025		A		25,000		(1)	04/09/2035	Common Stock	25,000	$0(1)	25,000	D

Explanation of Responses:

1. Represents stock options ("Options") granted pursuant to the Issuer's 2021 Omnibus Incentive Plan. The Options shall vest on April 9, 2026, subject to continued service to the Issuer.

	/s/ Chaim Hurvitz	09/10/2025
	** 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 NRXP Director Chaim Hurvitz receive on 04/09/2025?

He was granted 25,000 stock options under the Issuer's 2021 Omnibus Incentive Plan.

What are the exercise price and expiration date of the options reported for NRXP?

The options have an exercise price of $1.7297 and expire on 04/09/2035.

When do the options awarded to Chaim Hurvitz vest?

The options vest on 04/09/2026, subject to continued service to the issuer.

How many underlying shares does the Form 4 show for Hurvitz after the transaction?

The Form 4 reports beneficial ownership of 25,000 underlying shares via the options following the transaction.

Was this Form 4 filed individually or jointly for NRXP?

The form was filed by one reporting person (individual filing).