ARS Pharmaceuticals (SPRY) director option grant tied to OrbiMed

Rhea-AI Filing Summary

ARS Pharmaceuticals director Peter A. Thompson reported a grant of stock options covering 30,000 shares of common stock. The options have an exercise price of $10.54 per share and expire on June 23, 2036. They vest in full on the earlier of June 24, 2027 or the company’s 2027 annual meeting of stockholders. Under an agreement, the economic benefit from any securities issued under these options must be transferred to OrbiMed-related entities.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Thompson Peter A.

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	30,000	$0.00	--

Holdings After Transaction: Stock Option (right to buy) — 30,000 shares (Direct, null)

Footnotes (1)

1. The shares subject to the option will vest in full on the earlier of June 24, 2027 or the date of the Issuer's 2027 annual meeting of stockholders, which date has not been set by the Issuer's Board of Directors. Pursuant to an agreement with OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, the Reporting Person is obligated to transfer any securities issued under any such stock options or other awards, or the economic benefit thereof, to OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, which will in turn ensure that such securities or economic benefits are provided to OrbiMed Private Investments VI, LP.

Key Figures

Option grant size: 30,000 shares Exercise price: $10.54 per share Expiration date: June 23, 2036 +2 more

5 metrics

Option grant size 30,000 shares Underlying common stock in new stock option award

Exercise price $10.54 per share Conversion or exercise price of stock option

Expiration date June 23, 2036 Option term end date for the stock option grant

Vesting date trigger June 24, 2027 Earlier of this date or 2027 annual meeting for full vesting

Post-transaction options 30,000 shares Total option shares held following the reported grant

Key Terms

Stock Option (right to buy), Grant, award, or other acquisition, annual meeting of stockholders, OrbiMed Advisors LLC, +1 more

5 terms

Stock Option (right to buy) financial

"Security title is listed as "Stock Option (right to buy)" for the award."

Grant, award, or other acquisition financial

"The transaction code description states "Grant, award, or other acquisition"."

annual meeting of stockholders financial

"Vesting occurs on June 24, 2027 or the 2027 annual meeting of stockholders."

OrbiMed Advisors LLC financial

"An agreement requires transferring securities or benefits to OrbiMed Advisors LLC."

OrbiMed Private Investments VI, LP financial

"OrbiMed Advisors ensures benefits are provided to OrbiMed Private Investments VI, LP."

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/26/2026 - 04:16 PM Accepted by SEC EDGAR 06/26/2026 - 04:15 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^*

Thompson Peter A.

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2026

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)	$10.54	06/24/2026		A		30,000		(1)	06/23/2036	Common Stock	30,000	$0	30,000	D(2)

Explanation of Responses:

1. The shares subject to the option will vest in full on the earlier of June 24, 2027 or the date of the Issuer's 2027 annual meeting of stockholders, which date has not been set by the Issuer's Board of Directors.

2. Pursuant to an agreement with OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, the Reporting Person is obligated to transfer any securities issued under any such stock options or other awards, or the economic benefit thereof, to OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, which will in turn ensure that such securities or economic benefits are provided to OrbiMed Private Investments VI, LP.

	/s/ Kathleen Scott, Attorney-in-Fact	06/26/2026
	** 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)

FAQ

What insider activity did ARS Pharmaceuticals (SPRY) report in this Form 4?

ARS Pharmaceuticals reported a stock option grant to director Peter A. Thompson for 30,000 underlying common shares. The award reflects compensation, not an open-market trade, and is structured as a derivative security with specific vesting and expiration terms.

How many ARS Pharmaceuticals (SPRY) shares are covered by the new option grant?

The new option grant covers 30,000 shares of ARS Pharmaceuticals common stock. These shares are underlying a single stock option award that was reported as a derivative security acquisition on the Form 4, increasing the reported post-transaction option holdings to 30,000 shares.

What is the exercise price and expiration date of the ARS Pharmaceuticals options?

The stock options have an exercise price of $10.54 per share and expire on June 23, 2036. This means they can be exercised at $10.54 any time after vesting and before the 2036 expiration date, subject to the award’s other terms.

When do Peter A. Thompson’s ARS Pharmaceuticals options vest?

The options will vest in full on the earlier of June 24, 2027 or the date of ARS Pharmaceuticals’ 2027 annual meeting of stockholders. The company’s board has not yet set the exact meeting date referenced in the vesting condition.

What is the relationship between this ARS Pharmaceuticals grant and OrbiMed entities?

Under an agreement, any securities issued under these options, or their economic benefits, must be transferred to OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC. Those entities will then ensure the benefits are provided to OrbiMed Private Investments VI, LP.

Did Peter A. Thompson buy or sell ARS Pharmaceuticals stock on the market?

No open-market purchase or sale was reported. The Form 4 shows a grant of stock options coded as a “Grant, award, or other acquisition,” which is a compensation-related derivative award rather than a market transaction in ARS Pharmaceuticals shares.