[Form 4] OPKO HEALTH, INC. Insider Trading Activity

Rhea-AI Filing Summary

OPKO Health (OPK) insider Phillip Frost, M.D., who serves as CEO, Chairman and a 10% owner, reported multiple open market purchases of the company’s common stock. On 11/19/2025, he bought a total of 580,000 shares in several transactions at prices ranging from $1.28 to $1.32 per share. Following these transactions, he was reported as indirectly beneficially owning 215,546,448 shares through Frost Gamma Investments Trust, with additional holdings of 3,568,951 shares directly and 30,127,177 shares indirectly through Frost Nevada entities, while expressly disclaiming beneficial ownership beyond his pecuniary interest.

Insights

Insider Transactions Analyst

Insider, already a major holder, increased indirect ownership via open‑market purchases with no offsetting sales, modestly positive governance signal.

The filing shows that **Phillip Frost, M.D.**, a **Director, CEO, Chairman, and 10% owner** of **OPKO Health, Inc.**, executed multiple open-market purchases of common stock on 11/19/2025. Across several trades priced between $1.28 and $1.32 per share, the reporting person acquired a total of **580,000** shares coded "P" (purchase), all reported as **indirect** holdings through Frost Gamma Investments Trust. After these transactions, the reported indirect beneficial ownership through this structure rose to **215,546,448** shares.

In addition to these indirect holdings, the filing reports **3,568,951** shares held directly and **30,127,177** shares held indirectly through a separate structure (Frost Nevada Investments Trust). The explanatory footnotes detail complex ownership chains but also state that the reporting person **disclaims beneficial ownership** beyond any pecuniary interest, which is a standard legal position in such multi-entity arrangements. From a governance perspective, the key fact is that there were **purchases only, no dispositions**, which increases the reporting person’s economic exposure.

This kind of Form 4 matters because it updates the market on how a key insider adjusts their stake. Here, the net effect is a higher aggregate position across entities associated with the reporting person as of 11/19/2025, with significant total share counts involved. A practical focus going forward is whether similar open-market purchases continue in subsequent Form 4s and how the balance between direct and indirect holdings evolves over time, since repeated increases would further concentrate ownership and strengthen economic alignment with other holders.

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^*

FROST PHILLIP MD ET AL

(Last) (First) (Middle)

OPKO HEALTH, INC.

4400 BISCAYNE BLVD.

(Street)

MIAMI FL 33137

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
OPKO HEALTH, INC. [ OPK ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & Chairman

3. Date of Earliest Transaction (Month/Day/Year)
11/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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	11/19/2025		P		36,325	A	$1.28	215,002,773	I	See Footnote(1)
Common Stock	11/19/2025		P		58,160	A	$1.285	215,060,933	I	See Footnote(1)
Common Stock	11/19/2025		P		300	A	$1.29	215,061,233	I	See Footnote(1)
Common Stock	11/19/2025		P		21,236	A	$1.295	215,082,469	I	See Footnote(1)
Common Stock	11/19/2025		P		30,082	A	$1.3	215,112,551	I	See Footnote(1)
Common Stock	11/19/2025		P		12,993	A	$1.305	215,125,544	I	See Footnote(1)
Common Stock	11/19/2025		P		66,504	A	$1.31	215,192,048	I	See Footnote(1)
Common Stock	11/19/2025		P		198,904	A	$1.315	215,390,952	I	See Footnote(1)
Common Stock	11/19/2025		P		155,496	A	$1.32	215,546,448	I	See Footnote(1)
Common Stock								3,568,951	D
Common Stock								30,127,177	I	See Footnote(2)

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

1. Name and Address of Reporting Person^*

FROST PHILLIP MD ET AL

(Last) (First) (Middle)

OPKO HEALTH, INC.

4400 BISCAYNE BLVD.

(Street)

MIAMI FL 33137

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CEO & Chairman

1. Name and Address of Reporting Person^*

Frost Gamma Investments Trust

(Last) (First) (Middle)

OPKO HEALTH, INC.

4400 BISCAYNE BLVD.

(Street)

MIAMI FL 33137

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The securities are held by Frost Gamma Investments Trust, of which Phillip Frost M.D., is the trustee. Frost Gamma L.P. is the sole and exclusive beneficiary of Frost Gamma Investments Trust. Dr. Frost is one of two limited partners of Frost Gamma L.P. The general partner of Frost Gamma L.P. is Frost Gamma, Inc., and the sole shareholder of Frost Gamma, Inc. is Frost-Nevada Corporation. Dr. Frost is also the sole shareholder of Frost-Nevada Corporation. The reporting person disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

2. These securities are held by Frost Nevada Investments Trust, of which the Reporting Person is the trustee and Frost-Nevada, L.P. is the sole and exclusive beneficiary. The Reporting Person is one of seven limited partners of Frost-Nevada, L.P. and the sole shareholder of Frost-Nevada Corporation, the sole general partner of Frost-Nevada, L.P. The reporting person disclaims beneficial ownership of these securities, except to the extent of any pecuniary interest therein and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

	Phillip Frost, M.D., Individually and as Trustee	11/19/2025
	** 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 OPKO Health (OPK) report on this Form 4?

The Form 4 reports that Phillip Frost, M.D., OPKO Health’s CEO, Chairman and 10% owner, made multiple open market purchases of OPKO common stock on 11/19/2025.

How many OPKO Health shares did Phillip Frost acquire and at what prices?

On 11/19/2025, Phillip Frost acquired a total of 580,000 shares of OPKO Health common stock in several trades at prices between $1.28 and $1.32 per share.

What is Phillip Frost’s reported beneficial ownership in OPKO Health after the transactions?

After the reported purchases, Phillip Frost was shown as indirectly beneficially owning 215,546,448 shares through Frost Gamma Investments Trust, plus 3,568,951 shares held directly and 30,127,177 shares held indirectly through Frost Nevada entities.

How is Frost Gamma Investments Trust related to Phillip Frost’s OPKO Health holdings?

The filing states the securities are held by Frost Gamma Investments Trust, of which Phillip Frost, M.D. is trustee, with an ownership structure involving Frost Gamma L.P., Frost Gamma, Inc., and Frost-Nevada Corporation.

Does Phillip Frost disclaim any beneficial ownership of these OPKO Health securities?

Yes. The filing states that the reporting person disclaims beneficial ownership of the securities reported through Frost Gamma and Frost Nevada structures, except to the extent of any pecuniary interest.

What roles does Phillip Frost hold at OPKO Health according to this Form 4?

Phillip Frost is identified as a Director, CEO & Chairman, and a 10% Owner of OPKO Health.