ARS Pharmaceuticals insider files Form 144 to sell 150,000 shares

Rhea-AI Filing Summary

ARS Pharmaceuticals, Inc. (SPRY) filed a Form 144 notifying of a proposed sale of 150,000 shares of common stock through The Charles Schwab Corporation, with an aggregate market value of $2,123,000.00. The form lists approximately 98,826,337 shares outstanding and an approximate sale date of 08/21/2025 on NASDAQ. The shares were acquired on 09/25/2015 as founders and Series A shares from the issuer. The filing also discloses recent sales by Sarina Tanimoto & Richard E Lowenthal of 12,344 shares on 08/19/2025 for $173,129.00 and 37,656 shares on 08/20/2025 for $530,625.00. The notice includes the standard representation regarding absence of undisclosed material adverse information.

Positive

• Transparent disclosure of proposed sale including broker, share count, aggregate market value, and planned sale date
• Acquisition history is provided showing the shares were acquired as founders/Series A shares on 09/25/2015
• Recent prior sales in the past three months are listed with dates and gross proceeds, adding clarity

Negative

• Insider disposition of company common stock totaling 150,000 shares is proposed
• Significant aggregate value of $2,123,000.00 associated with the proposed sale

Insights

Securities Analyst

TL;DR Proposed insider sale disclosed: 150,000 common shares valued at $2.123M to be sold via Charles Schwab on NASDAQ.

The filing provides clear, specific transaction details: class of security, broker, share count, aggregate market value, outstanding shares, and planned sale date. It also documents acquisition history showing these were founder/Series A shares acquired from the issuer on 09/25/2015. Recent smaller sales by named parties on 08/19/2025 and 08/20/2025 are reported with gross proceeds. For investors and compliance teams, the filing supplies the required transparency for Rule 144 dispositions.

Corporate Governance Expert

TL;DR Required insider disposition notice filed with standard signatures and Rule 144 disclosures.

The document contains the standard attestation about no undisclosed material adverse information and signatures warning about false statements. It identifies the seller relationship as founders/Series A and notes the broker and sale mechanics. The disclosure of prior sales in the past three months is included, satisfying periodic reporting expectations for officer/director/affiliate dispositions under Rule 144 notice filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
COMMON	THE CHARLES SCHWAB CORPORATION 3000 Schwab Way Westlake TX 76262	150000	2123000.00	98826337	08/21/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
COMMON	09/25/2015	FOUNDERS AND SERIES A SHRS	ISSUER			150000	09/25/2015	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
SARINA TANIMOTO & RICHARD E LOWENTHAL 11682 El Camino Real Suite 300 San Diego CA 92130	COMMON	08/19/2025	12344	173129.00
SARINA TANIMOTO & RICHARD E LOWENTHAL 11682 El Camino Real Suite 300 San Diego CA 92130	COMMON	08/20/2025	37656	530625.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filed for SPRY disclose?

The Form 144 discloses a proposed sale of 150,000 common shares through The Charles Schwab Corporation with an aggregate market value of $2,123,000.00 and an approximate sale date of 08/21/2025 on NASDAQ.

When and how were the shares being sold on Form 144 acquired?

The filing states the 150,000 shares were acquired on 09/25/2015 as founders and Series A shares from the issuer.

Does the filing report any recent sales of the issuer's stock by the seller?

Yes. It reports sales by Sarina Tanimoto & Richard E Lowenthal of 12,344 shares on 08/19/2025 for $173,129.00 and 37,656 shares on 08/20/2025 for $530,625.00.

Which broker is handling the proposed sale listed on the Form 144?

The broker listed for the proposed sale is The Charles Schwab Corporation located at 3000 Schwab Way Westlake TX 76262.

What attestation does the Form 144 include regarding material information?

The person for whose account the securities are to be sold represents by signing that they do not know of any material adverse information about the issuer that has not been publicly disclosed.