ARS Pharma officer plans sale of 14,064 shares

ARS Pharmaceuticals, Inc. (SPRY) officer Eric Karas filed a notice under Rule 144 to sell up to 14,064 shares of common stock through Morgan Stanley Smith Barney.

Rhea-AI Filing Summary

ARS Pharmaceuticals, Inc. (SPRY) officer Eric Karas filed a notice under Rule 144 to sell up to 14,064 shares of common stock through Morgan Stanley Smith Barney. The planned sale has an aggregate market value of $69,761.66 and relates to shares acquired via the company’s Employee Stock Purchase Plan. The filing also reports that Karas sold 25,000 shares of common stock for $250,000 on June 12, 2026.

Key Figures

Shares to be sold: 14,064 shares Aggregate market value of planned sale: $69,761.66 Shares outstanding: 99,447,343 shares +2 more

5 metrics

Shares to be sold 14,064 shares Maximum common shares covered by the Rule 144 notice

Aggregate market value of planned sale $69,761.66 Value of the 14,064 shares to be sold

Shares outstanding 99,447,343 shares Common shares outstanding referenced in the Form 144

Recent shares sold 25,000 shares Common shares sold by Eric Karas on June 12, 2026

Proceeds from recent sale $250,000.00 Value of 25,000 shares sold on June 12, 2026

Key Terms

Rule 144, Employee Stock Purchase Plan, aggregate market value

3 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.

Employee Stock Purchase Plan financial

"Common | 06/30/2023 | Employee Stock Purchase Plan | Issuer"

An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.

aggregate market value financial

"Common | Morgan Stanley Smith Barney LLC ... | 14064 | 69761.66"

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.

FAQ

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

What does the Form 144 filing disclose for ARS Pharmaceuticals (SPRY)?

It discloses that officer Eric Karas intends to sell up to 14,064 shares of ARS Pharmaceuticals common stock under Rule 144, with an aggregate market value of $69,761.66, using Morgan Stanley Smith Barney as the broker.

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

The notice covers up to 14,064 shares of ARS Pharmaceuticals common stock. These shares were acquired through the company’s Employee Stock Purchase Plan across multiple purchase dates from June 30, 2023 through June 30, 2026.

What recent sales by Eric Karas in SPRY stock are reported?

The filing reports that 25,000 shares of ARS Pharmaceuticals common stock were sold on June 12, 2026 for total proceeds of $250,000.00 during the past three months.

What is the reported market value of the SPRY shares to be sold?

The shares to be sold under this notice have a reported aggregate market value of $69,761.66, based on the information provided in the Form 144 filing.

How many ARS Pharmaceuticals (SPRY) shares are outstanding as referenced in the filing?

The filing references 99,447,343 shares of ARS Pharmaceuticals common stock outstanding in connection with the planned Rule 144 sale of 14,064 shares.

Through which broker will the SPRY shares be sold under this Form 144?

The planned sale of up to 14,064 SPRY shares will be executed through Morgan Stanley Smith Barney LLC Executive Financial Services, located at 1 New York Plaza in New York.

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

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Available on EDGAR 09/11/2026 - 04:10 PM EDT Accepted by SEC EDGAR 09/11/2026 - 04:10 PM EDT 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	0001951287
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	ERIC KARAS
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

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	14064	69761.66	99447343	09/11/2026	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	06/30/2023	Employee Stock Purchase Plan	Issuer			1984	06/30/2023	Cash
Common	12/29/2023	Employee Stock Purchase Plan	Issuer			1232	12/29/2023	Cash
Common	06/28/2024	Employee Stock Purchase Plan	Issuer			2477	06/28/2024	Cash
Common	12/31/2024	Employee Stock Purchase Plan	Issuer			2003	12/31/2024	Cash
Common	06/30/2025	Employee Stock Purchase Plan	Issuer			2619	06/30/2025	Cash
Common	12/31/2025	Employee Stock Purchase Plan	Issuer			1861	12/31/2025	Cash
Common	06/30/2026	Employee Stock Purchase Plan	Issuer			1888	06/30/2026	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
ERIC KARAS 11682 El Camino Real Suite 300 San Diego CA 92130	Common	06/12/2026	25000	250000.00

144: Remarks and Signature

Remarks
Date of Notice	09/11/2026
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/ Eric Karas
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)