Cassava Sciences director gets 53,000 options at $3.98

Cassava Sciences (SAVA) reported a director stock option grant.

Rhea-AI Filing Summary

Cassava Sciences (SAVA) reported a director stock option grant. On 10/21/2025, the director received a stock option for 53,000 shares with an exercise price of $3.98 per share and an expiration date of 10/21/2035. The option vests over three years at 1/36th each month. Following the grant, 53,000 derivative securities were beneficially owned, held directly. The grant price for the option was reported as $0.

Insider Trade Summary

Grant/Award: 53,000 shares

Grant/Award 1 txn

Insider Bir Dawn Carter

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	53,000	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 53,000 contracts (Direct)

Footnotes (1)

1. F1. The stock option vests over three (3) years at a rate of 1/36th each month.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Cassava Sciences (SAVA) disclose in this Form 4?

A director was granted a stock option for 53,000 shares on 10/21/2025.

What is the exercise price of the new SAVA stock option?

The exercise price is $3.98 per share.

How does the SAVA option vest?

It vests over three years at a rate of 1/36th each month.

When does the SAVA option expire?

The expiration date is 10/21/2035.

How many derivative securities are owned after this transaction?

53,000 derivative securities were beneficially owned following the grant.

Is the ownership recorded as direct or indirect?

The filing lists ownership as Direct (D).

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 10/22/2025 - 06:15 PM Learn about SEC filing dates

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^*

Bir Dawn Carter

(Last) (First) (Middle)

6801 N CAPITAL OF TEXAS HWY, BLDG 1

SUITE 300

(Street)

AUSTIN TX 78731

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CASSAVA SCIENCES INC [ SAVA ]

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)
10/21/2025

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)	$3.98	10/21/2025		A		53,000		(1)	10/21/2035	Common Stock	53,000	$0	53,000	D

Explanation of Responses:

1. The stock option vests over three (3) years at a rate of 1/36th each month.

	/s/ Eric J. Schoen by Power of Attorney	10/22/2025
	** 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.