ARS Pharma grants CCO 1.0M options at $5.77

ARS Pharmaceuticals, Inc. (SPRY) reported that Chief Commercial Officer Margaret Ekins Smith received a grant of stock options for 1,001,738 shares of common stock on September 1, 2026.

Rhea-AI Filing Summary

ARS Pharmaceuticals, Inc. (SPRY) reported that Chief Commercial Officer Margaret Ekins Smith received a grant of stock options for 1,001,738 shares of common stock on September 1, 2026. The options have an exercise price of $5.77 per share and expire on August 31, 2036. According to the grant terms, 25% of the shares vest on August 17, 2027, with the remaining shares vesting monthly over the following three years. These options are held directly, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Grant/Award: 1,001,738 shares

Grant/Award 1 txn

Insider Smith Margaret Ekins

Role Chief Commercial Officer

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy) F1	1,001,738	$0.00	$0.00

Holdings After Transaction: Stock Option (right to buy) — 1,001,738 contracts (Direct)

Footnotes (1)

1. F1. 25% of the shares subject to the option vest on August 17, 2027, and the remaining shares will vest monthly thereafter over three years.

Key Figures

Stock options granted: 1,001,738 shares Exercise price: $5.77 per share Shares underlying options after grant: 1,001,738 shares +2 more

5 metrics

Stock options granted 1,001,738 shares Grant to Chief Commercial Officer on September 1, 2026

Exercise price $5.77 per share Exercise price of stock options granted September 1, 2026

Shares underlying options after grant 1,001,738 shares Total option position reported following the grant

Initial vesting portion 25% of granted shares Vesting cliff on August 17, 2027

Option expiration date August 31, 2036 End of exercise period for the granted options

Key Terms

stock option, exercise price, vesting, Rule 10b5-1 trading plan

4 terms

stock option financial

"She was granted stock options for 1,001,738 shares of ARS Pharmaceuticals common stock"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

exercise price financial

"The options have an exercise price of $5.77 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.

vesting financial

"25% of the shares vest on August 17, 2027, with the remaining shares vesting monthly"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Rule 10b5-1 trading plan regulatory

"no Rule 10b5-1 trading plan is reported in connection with this stock option grant"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

FAQ

What equity award did SPRY grant to Chief Commercial Officer Margaret Ekins Smith?

She was granted stock options for 1,001,738 shares of ARS Pharmaceuticals common stock on September 1, 2026, as a compensation-related award held directly in her name.

What is the exercise price of the new stock options reported by SPRY?

The stock options granted to Margaret Ekins Smith have an exercise price of $5.77 per share, meaning she may buy ARS Pharmaceuticals common stock at that price once the options vest and are exercisable.

How do the stock options granted to SPRY’s Chief Commercial Officer vest?

According to the award terms, 25% of the option shares vest on August 17, 2027, and the remaining shares vest monthly over the next three years, creating a multi-year vesting schedule.

When do the new stock options for SPRY’s Chief Commercial Officer expire?

The granted stock options expire on August 31, 2036, giving a long-term window during which, after vesting, the options can potentially be exercised at the fixed exercise price of $5.77 per share.

Are the SPRY stock options held directly by Margaret Ekins Smith or through another entity?

The Form 4 states that the 1,001,738 option shares are held directly by Margaret Ekins Smith, rather than through a trust, fund, or other indirect ownership structure.

Were the SPRY option transactions reported as part of a Rule 10b5-1 trading plan?

No. The filing indicates that no Rule 10b5-1 trading plan is reported in connection with this stock option grant to Chief Commercial Officer Margaret Ekins Smith.

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

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Available on EDGAR 09/02/2026 - 05:27 PM Accepted by SEC EDGAR 09/02/2026 - 05:27 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^*

Smith Margaret Ekins

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Commercial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026

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)	$5.77	09/01/2026		A		1,001,738		(1)	08/31/2036	Common Stock	1,001,738	$0	1,001,738	D

Explanation of Responses:

1. 25% of the shares subject to the option vest on August 17, 2027, and the remaining shares will vest monthly thereafter over three years.

	/s/ Kathleen Scott, Attorney-in-Fact	09/02/2026
	** 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)