ARS Pharmaceuticals holder may sell 50K shares

ARS Pharmaceuticals, Inc. (SPRY) received a Rule 144 notice from Richard Lowenthal covering up to 50,000 shares of common stock.

Rhea-AI Filing Summary

ARS Pharmaceuticals, Inc. (SPRY) received a Rule 144 notice from Richard Lowenthal covering up to 50,000 shares of common stock. The shares relate to a stock option exercise for cash with a stated aggregate market value of $315,885.00, with a proposed sale date of 08/18/2026 through Morgan Stanley Smith Barney LLC on Nasdaq.

Key Figures

Shares covered by Form 144: 50,000 shares Aggregate market value: $315,885.00 Proposed sale date: 08/18/2026 +2 more

5 metrics

Shares covered by Form 144 50,000 shares Common stock of ARS Pharmaceuticals to be sold under Rule 144

Aggregate market value $315,885.00 Stated value for 50,000 common shares covered by the notice

Proposed sale date 08/18/2026 Date associated with the potential Rule 144 sale of shares

Security type Common stock Class of ARS Pharmaceuticals securities subject to the Form 144

Acquisition method Stock option exercise for cash Method by which the filer would obtain the 50,000 shares

Key Terms

Rule 144, Stock Option Exercise, aggregate market value, 10% Stockholder

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

Stock Option Exercise financial

"Common | 08/18/2026 | Stock Option Exercise | Issuer"

A stock option exercise is the act of using a previously granted right to buy shares of a company's stock at a specific, predetermined price by paying that price and receiving the shares. It matters to investors because exercising changes who owns the shares (which can dilute existing ownership), can trigger taxable events and shift potential gains or losses, and affects voting power and the company’s outstanding share count—like turning a voucher into an actual product that becomes part of circulating supply.

aggregate market value financial

"Common | Morgan Stanley Smith Barney LLC ... | 50000 | 315885.00"

Aggregate market value is the combined price you would pay to buy all outstanding shares of a company or all companies in a group at current market prices — essentially the sum of each stock’s market capitalization. It matters to investors because it shows the overall size and weight of an investment or sector (like the total cost to buy every piece of a puzzle), helps compare scale across companies or markets, and influences index composition and risk exposure.

10% Stockholder regulatory

"Officer Director 10% Stockholder"

FAQ

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

What does the Form 144 filing mean for ARS Pharmaceuticals, Inc. (SPRY)?

The Form 144 filing indicates that Richard Lowenthal has given notice of a potential sale of 50,000 SPRY common shares under Rule 144. This is a regulatory disclosure of intent and does not itself execute any share sale.

How many ARS Pharmaceuticals (SPRY) shares are covered by this Form 144?

The notice covers up to 50,000 shares of ARS Pharmaceuticals common stock. This amount reflects the maximum number of shares that may be sold under this particular Rule 144 filing, rather than the company issuing new shares.

What is the stated market value of the SPRY shares in this Form 144?

The filing lists an aggregate market value of $315,885.00 for the 50,000 common shares of ARS Pharmaceuticals. This value is based on the information provided in the notice and is used for Rule 144 disclosure purposes.

When could the ARS Pharmaceuticals (SPRY) shares be sold under this Form 144?

The proposed sale date in the notice is 08/18/2026. This date reflects when the filer may begin selling the 50,000 shares under Rule 144, subject to applicable volume and other regulatory limitations.

How are the ARS Pharmaceuticals (SPRY) shares in this Form 144 being obtained?

The filing states that the common shares relate to a stock option exercise for cash from the issuer. This means the filer would exercise stock options and pay cash to receive up to 50,000 shares before any potential sale.

Which brokerage firm is handling the potential Rule 144 sale for SPRY shares?

The broker listed is Morgan Stanley Smith Barney LLC Executive Financial Services at 1 New York Plaza, New York. This firm is named as the broker through which the potential sale of 50,000 ARS Pharmaceuticals shares may be executed.

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

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Available on EDGAR 08/18/2026 - 05:38 PM Accepted by SEC EDGAR 08/18/2026 - 05:38 PM Learn about SEC filing dates

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	0001378550
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	ARS PHARMACEUTICALS, INC.
SEC File Number	001-39756
Address of Issuer	11682 El Camino Real Suite 300 San Diego CALIFORNIA 92130
Phone	(858) 771-9307
Name of Person for Whose Account the Securities are To Be Sold	RICHARD LOWENTHAL
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	Officer
Relationship to Issuer	Director
Relationship to Issuer	10% Stockholder

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	50000	315885.00	99447343	08/18/2026	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	08/18/2026	Stock Option Exercise	Issuer			50000	08/18/2026	Cash

* 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

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	08/18/2026
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	/s/ Richard E Lowenthal
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)