ARS Pharmaceuticals CEO receives 1.04M-share option

One-quarter of the option shares are scheduled to vest in July 2027, with the remainder vesting monthly over three years.

Rhea-AI Filing Summary

ARS Pharmaceuticals, Inc. President and CEO Donn Casale received a direct stock option award covering 1,036,923 Common Stock shares on October 1, 2026, with an exercise price of $4.12 per share. 25% of the shares subject to the option vest on July 7, 2027, and the remaining shares will vest monthly thereafter over three years. The option expires September 30, 2036.

Insider Trade Summary

Grant/Award: 1,036,923 shares

Grant/Award 1 txn

Insider Casale Donn

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy) F1	1,036,923	$0.00	$0.00

Holdings After Transaction: Stock Option (right to buy) — 1,036,923 contracts (Direct)

Footnotes (1)

1. F1. 25% of the shares subject to the option vest on July 7, 2027, and the remaining shares will vest monthly thereafter over three years.

Key Figures

Shares subject to option: 1,036,923 shares Exercise price: $4.12 per share Initial vesting portion: 25% +3 more

6 metrics

Shares subject to option 1,036,923 shares Underlying Common Stock shares covered by the award

Exercise price $4.12 per share Price to exercise the option

Initial vesting portion 25% Shares subject to the option scheduled to vest on July 7, 2027

Initial vesting date July 7, 2027 Date 25% of the option shares vest

Remaining vesting period Three years Remaining shares vest monthly thereafter

Expiration date September 30, 2036 Stock option expiration

Key Terms

Stock Option (right to buy), exercise price, vest

3 terms

Stock Option (right to buy) financial

"Stock Option (right to buy)"

exercise price financial

"exercise price of $4.12 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vest financial

"25% of the shares subject to the option vest"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

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

When does Donn Casale's SPRY stock option expire?

Donn Casale's option expires on September 30, 2036.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 10/05/2026 - 04:25 PM Accepted by SEC EDGAR 10/05/2026 - 04:24 PM Learn about SEC filing dates

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^*

Casale Donn

(Last) (First) (Middle)

C/O ARS PHARMACEUTICALS, INC.

11682 EL CAMINO REAL, SUITE 300

(Street)

SAN DIEGO CALIFORNIA 92130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ARS Pharmaceuticals, Inc. [ SPRY ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2026

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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$4.12	10/01/2026		A		1,036,923		(1)	09/30/2036	Common Stock	1,036,923	$0	1,036,923	D

Explanation of Responses:

1. 25% of the shares subject to the option vest on July 7, 2027, and the remaining shares will vest monthly thereafter over three years.

	/s/ Kathleen Scott, Attorney-in-Fact	10/05/2026
	** 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)