NRX Pharmaceuticals (NRXP) COO discloses 100,000-share stock option position

Rhea-AI Filing Summary

NRX Pharmaceuticals Chief Operating Officer reports initial option holdings. Joseph Michael Casper filed a Form 3 showing direct beneficial ownership of stock options to acquire 100,000 shares of NRX Pharmaceuticals common stock at an exercise price of $2.39 per share.

According to the vesting schedule, 33.3% of these options will vest on June 1, 2026, another 33.3% will vest on December 1, 2026, and the remaining 33.3% will vest on December 1, 2027. This filing establishes his starting equity position as an officer of the company.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Casper Joseph Michael

Role Chief Operating Officer

Type	Security	Shares	Price	Value
holding	Stock Options (Right to buy)	--	--	--

Holdings After Transaction: Stock Options (Right to buy) — 100,000 shares (Direct)

Footnotes (1)

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Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Casper Joseph Michael

(Last) (First) (Middle)

C/O NRX PHARMACEUTICALS, INC.

1201 ORANGE STREET, SUITE 600

(Street)

WILMINGTON DE 19801

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/27/2026

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options (Right to buy)	(1)	01/27/2036	Common Stock	100,000	$2.39	D

Explanation of Responses:

1. 33.3% of the stock options shall vest on June 1, 2026, 33.3% shall vest on December 1, 2026, and the remaining 33.3% shall vest on December 1, 2027.

	/s/ Joseph M. Casper	02/17/2026
	** 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 5 (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 position does Casper Joseph Michael hold at NRXP?

Casper Joseph Michael serves as Chief Operating Officer of NRX Pharmaceuticals. The Form 3 identifies him as an officer, not a director or 10% owner, and discloses his initial equity holdings through stock options in the company.

What securities are reported in this NRXP Form 3 filing?

The Form 3 reports stock options giving the right to buy NRX Pharmaceuticals common stock. These options cover 100,000 underlying shares, with an exercise price of $2.39 per share, and are held directly by the Chief Operating Officer.

How many NRXP shares are subject to the reported stock options?

The reported stock options cover 100,000 shares of NRX Pharmaceuticals common stock. This figure represents the total amount of underlying shares tied to the options beneficially owned directly by the company’s Chief Operating Officer in this initial ownership statement.

What is the exercise price of the NRXP stock options reported?

The stock options reported in the Form 3 have an exercise price of $2.39 per share. This is the price at which the Chief Operating Officer can purchase NRX Pharmaceuticals common stock when the options vest and are exercisable.

What is the vesting schedule for the NRXP stock options?

The vesting occurs in three equal tranches of 33.3%. One tranche vests on June 1, 2026, the next on December 1, 2026, and the final tranche on December 1, 2027, gradually making the options exercisable over time.

Is the NRXP Form 3 transaction a purchase or sale of shares?

The Form 3 does not report a purchase or sale of shares. It is an initial statement of beneficial ownership, listing stock options to acquire 100,000 NRX Pharmaceuticals shares that are held directly by the Chief Operating Officer.