What does the 7,235-share disposition in SIGA (SIGA) stock represent?

The 7,235-share transaction is coded as a disposition to the issuer at $4.39 per share. This indicates shares were returned to SIGA, not sold on the open market, and is separate from the RSU exercise and grant transactions reported in the same Form 4.

SIGA Technologies (SIGA) director reports RSU exercise, share disposition and new RSU grant

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

SIGA Technologies director Joseph W. Marshall III reported several equity compensation-related moves. On June 9, 2026, he exercised 24,116 restricted stock units (RSUs) into common stock at a conversion price of $0.00 per share, and 7,235 common shares were disposed of to the issuer at $4.39 per share. Following these transactions, he directly held 246,523 shares of common stock. He also received a new grant of 34,169 RSUs, which fully vest on the date of SIGA’s 2027 annual meeting of stockholders; up to 10,251 of these RSUs may be settled in cash at the Board’s discretion.

Insider Trade Summary

24,116 shares exercised/converted

Mixed 4 txns

Insider Marshall Joseph W III

Role null

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	24,116	$0.00	--
Grant/Award	Restricted Stock Units	34,169	$0.00	--
Exercise	Common Stock, par value $.0001 per share	24,116	$0.00	--
Disposition	Common Stock, par value $.0001 per share	7,235	$4.39	$32K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Stock, par value $.0001 per share — 253,758 shares (Direct, null)

Footnotes (1)

Restricted stock units ("RSUs") represent contingent rights to receive common stock of SIGA Technologies, Inc. (the "Company") on a one-for-one basis. Reflects RSUs that were cash-settled, per the terms of the compensation program for Board Directors and as noted on the Form 4 filed on June 11, 2025. Partial cash-settlement of RSUs under the Board compensation program is designed to address tax obligations in connection with the vesting of RSUs. The RSUs were granted on June 10, 2025, and fully vested on the date of the Company's 2026 annual meeting of stockholders. RSUs represent contingent rights to receive common stock of the Company on a one-for-one basis, of which up to 10,251 RSUs are expected to settle in cash value thereof but may be settled in shares at the discretion of the Board of Directors. The RSUs fully vest on the date of the Company's 2027 annual meeting of stockholders.

Key Figures

Disposition to issuer: 7,235 shares at $4.39 RSUs exercised: 24,116 units at $0.00 Shares held after: 246,523 shares +3 more

6 metrics

Disposition to issuer 7,235 shares at $4.39 Common stock returned to issuer on June 9, 2026

RSUs exercised 24,116 units at $0.00 RSUs converted into common stock on June 9, 2026

Shares held after 246,523 shares Direct common stock ownership following transactions

New RSU grant 34,169 RSUs Grant vests on 2027 annual meeting date

Cash-settleable RSUs Up to 10,251 RSUs Portion expected to settle in cash at Board discretion

Derivative exercises 24,116 shares Total derivative exercise shares per transaction summary

Key Terms

Restricted Stock Units, Disposition to issuer, Exercise or conversion of derivative security, contingent rights, +1 more

5 terms

Restricted Stock Units financial

"Restricted Stock Units ("RSUs") represent contingent rights to receive common stock"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer" for 7,235 common shares"

Exercise or conversion of derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security" for RSU exercises"

contingent rights financial

"RSUs represent contingent rights to receive common stock of the Company"

cash-settled financial

"Reflects RSUs that were cash-settled, per the terms of the compensation program"

Cash-settled describes a financial contract that is resolved by paying the monetary difference between agreed and actual prices, instead of delivering the underlying asset. For investors, it matters because it simplifies trades—like settling a bet with cash rather than handing over the item—and affects liquidity, tax treatment, and counterparty exposure, since you receive or pay only the value change rather than owning or transferring the actual security or commodity.

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Form 4 Insider Transactions: What Each Field Means →

06/10/2026 - 09:33 PM

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^*

Marshall Joseph W III

(Last)

(First)

(Middle)

C/O SIGA TECHNOLOGIES, INC.

31 EAST 62ND STREET

(Street)

NEW YORK

10065

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SIGA TECHNOLOGIES INC [ SIGA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/09/2026

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

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $.0001 per share	06/09/2026		M		24,116	A	⁽¹⁾	253,758	D
Common Stock, par value $.0001 per share	06/09/2026		D⁽²⁾		7,235	D	$4.39	246,523	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	06/09/2026		M			24,116	⁽³⁾	⁽³⁾	Common Stock, par value $.0001 per share	24,116	$0	0	D
Restricted Stock Units	⁽⁴⁾	06/09/2026		A		34,169		⁽⁵⁾	⁽⁵⁾	Common Stock, par value $.0001 per share	34,169	$0	34,169	D

Explanation of Responses:

1. Restricted stock units ("RSUs") represent contingent rights to receive common stock of SIGA Technologies, Inc. (the "Company") on a one-for-one basis.

2. Reflects RSUs that were cash-settled, per the terms of the compensation program for Board Directors and as noted on the Form 4 filed on June 11, 2025. Partial cash-settlement of RSUs under the Board compensation program is designed to address tax obligations in connection with the vesting of RSUs.

3. The RSUs were granted on June 10, 2025, and fully vested on the date of the Company's 2026 annual meeting of stockholders.

4. RSUs represent contingent rights to receive common stock of the Company on a one-for-one basis, of which up to 10,251 RSUs are expected to settle in cash value thereof but may be settled in shares at the discretion of the Board of Directors.

5. The RSUs fully vest on the date of the Company's 2027 annual meeting of stockholders.

	/s/ Kevin Buckley, as Attorney-in-Fact	06/10/2026
	** 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 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did SIGA (SIGA) director Joseph W. Marshall III report?

He reported exercising 24,116 RSUs into common stock and returning 7,235 common shares to SIGA at $4.39 per share. He also received a new grant of 34,169 RSUs tied to the 2027 annual meeting vesting date.

How many SIGA (SIGA) shares does Joseph W. Marshall III hold after this Form 4?

After the reported transactions, Joseph W. Marshall III directly holds 246,523 shares of SIGA common stock. This figure reflects his position following the RSU exercise and the 7,235-share disposition back to the issuer on June 9, 2026.

What RSU grant did SIGA (SIGA) disclose for Joseph W. Marshall III?

He received 34,169 restricted stock units, each representing a contingent right to one SIGA common share. These RSUs fully vest on the date of the company’s 2027 annual meeting of stockholders, forming part of the Board’s compensation program.

Will Joseph W. Marshall III’s new SIGA (SIGA) RSUs be settled in cash or shares?

The RSUs may be settled in cash or shares. Up to 10,251 of the 34,169 RSUs are expected to settle in cash value, but settlement in shares remains at the discretion of SIGA’s Board of Directors under the compensation program.

How do SIGA (SIGA) restricted stock units work for its directors?

Restricted stock units give directors contingent rights to receive SIGA common shares on a one-for-one basis. Some RSUs can be partially cash-settled to address tax obligations, with vesting often tied to the company’s annual stockholder meetings, as described in the Form 4 footnotes.