ARS Pharma holder to sell 25K shares Aug. 20

ARS Pharmaceuticals, Inc. (SPRY) received a notice that Richard Lowenthal intends to sell common stock under Rule 144.

Rhea-AI Filing Summary

ARS Pharmaceuticals, Inc. (SPRY) received a notice that Richard Lowenthal intends to sell common stock under Rule 144. The planned sale is 25,000 shares of common stock on 08/20/2026, to be sold through Morgan Stanley Smith Barney LLC after a stock option exercise.

The filing reports an aggregate market value for these securities of $148,160.00. It also lists prior sales by Richard Lowenthal in the last three months: 50,000 shares of common stock sold on 08/19/2026 for $322,345.00 and 50,000 shares sold on 08/18/2026 for $315,885.00.

Key Figures

Planned shares to be sold: 25,000 shares of common stock Aggregate market value of planned sale: $148,160.00 Shares sold on 08/19/2026: 50,000 shares of common stock +4 more

7 metrics

Planned shares to be sold 25,000 shares of common stock Securities to be sold on 08/20/2026 under Rule 144

Aggregate market value of planned sale $148,160.00 Market value for 25,000 shares of common stock to be sold

Shares sold on 08/19/2026 50,000 shares of common stock Sale by Richard Lowenthal during past 3 months

Proceeds on 08/19/2026 sale $322,345.00 Amount received for 50,000 shares sold on 08/19/2026

Shares sold on 08/18/2026 50,000 shares of common stock Sale by Richard Lowenthal during past 3 months

Proceeds on 08/18/2026 sale $315,885.00 Amount received for 50,000 shares sold on 08/18/2026

Planned sale date 08/20/2026 Date of planned Rule 144 sale of 25,000 shares

Key Terms

Rule 144, Stock Option Exercise, Securities To Be Sold, Securities Sold During The Past 3 Months

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 | 08/20/2026 | 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.

Securities To Be Sold financial

"144: Securities To Be Sold"

Securities Sold During The Past 3 Months financial

"144: Securities Sold During The Past 3 Months"

FAQ

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

What insider stock sale is disclosed for ARS Pharmaceuticals, Inc. (SPRY)?

The notice states that Richard Lowenthal intends to sell 25,000 shares of ARS Pharmaceuticals, Inc. common stock on 08/20/2026. The sale is to be effected through Morgan Stanley Smith Barney LLC following a stock option exercise, with an aggregate market value of $148,160.00.

Who is the selling security holder in this ARS Pharmaceuticals (SPRY) Form 144?

The selling security holder is Richard Lowenthal. The filing indicates he plans to sell 25,000 shares of ARS Pharmaceuticals, Inc. common stock under Rule 144, and it also reports additional common stock sales he made during the prior three months.

How many ARS Pharmaceuticals (SPRY) shares did Richard Lowenthal sell in the prior 3 months?

The filing lists two prior sales: 50,000 shares of common stock on 08/19/2026 for $322,345.00 and 50,000 shares on 08/18/2026 for $315,885.00, totaling 100,000 shares sold over those two days.

What is the method of sale for the new ARS Pharmaceuticals (SPRY) shares?

The planned transaction involves a stock option exercise with the issuer on 08/20/2026, followed by a sale for cash of 25,000 shares of common stock through Morgan Stanley Smith Barney LLC as the executing broker.

What aggregate market value is associated with the planned ARS Pharmaceuticals (SPRY) sale?

The Form 144 indicates that the 25,000 shares of ARS Pharmaceuticals, Inc. common stock to be sold have an aggregate market value of $148,160.00, based on the information provided in the securities information section.

On which market is ARS Pharmaceuticals (SPRY) common stock indicated to trade in this filing?

The securities information section identifies the trading market as NASDAQ for the ARS Pharmaceuticals, Inc. common stock associated with this Form 144 notice filed by Richard Lowenthal.

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

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Available on EDGAR 08/20/2026 - 04:26 PM Accepted by SEC EDGAR 08/20/2026 - 04:26 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	25000	148160.00	99447343	08/20/2026	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	08/20/2026	Stock Option Exercise	Issuer			25000	08/20/2026	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
RICHARD LOWENTHAL 11682 El Camino Real Suite 300 San Diego CA 92130	Common	08/19/2026	50000	322345.00
RICHARD LOWENTHAL 11682 El Camino Real Suite 300 San Diego CA 92130	Common	08/18/2026	50000	315885.00

144: Remarks and Signature

Remarks
Date of Notice	08/20/2026
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)