ARS Pharmaceuticals (SPRY) President awarded 898,456 long-term stock options

Rhea-AI Filing Summary

ARS Pharmaceuticals President Donn Casale received a large stock option grant tied to future service. The award covers 898,456 options to buy Common Stock at an exercise price of $7.96 per share, expiring on June 30, 2036. Following this grant, Casale holds 898,456 options directly. Vesting is long-term: 25% of the shares vest on June 1, 2027, with the remaining options vesting monthly over the next three years, encouraging retention and alignment with shareholders.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Casale Donn

Role President

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	898,456	$0.00	--

Holdings After Transaction: Stock Option (right to buy) — 898,456 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Options granted: 898,456 options Exercise price: $7.96 per share Expiration date: June 30, 2036 +2 more

5 metrics

Options granted 898,456 options Stock Option (right to buy) granted to President Donn Casale

Exercise price $7.96 per share Conversion or exercise price of stock options

Expiration date June 30, 2036 Options expire on this date

Post-grant option holdings 898,456 options Total options held following the transaction

Initial vesting tranche 25% of options Vests on June 1, 2027

Key Terms

Stock Option (right to buy), grant/award acquisition, conversion or exercise price, vesting, +1 more

5 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

grant/award acquisition financial

"transaction_action: grant/award acquisition"

conversion or exercise price financial

"conversion_or_exercise_price: 7.9600"

vesting financial

"25% of the shares subject to the option vest on June 1, 2027"

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.

expiration date financial

"expiration_date: 2036-06-30T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:31 PM Accepted by SEC EDGAR 07/02/2026 - 04:30 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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)	$7.96	07/01/2026		A		898,456		(1)	06/30/2036	Common Stock	898,456	$0	898,456	D

Explanation of Responses:

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

	/s/ Kathleen Scott, Attorney-in-Fact	07/02/2026
	** 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)

FAQ

What insider transaction did ARS Pharmaceuticals (SPRY) report for Donn Casale?

ARS Pharmaceuticals reported a new stock option grant to President Donn Casale. He received options on 898,456 shares of Common Stock at a $7.96 exercise price, expiring June 30, 2036, structured as long-term incentive compensation.

How many ARS Pharmaceuticals (SPRY) shares are covered by Donn Casale’s new options?

The grant covers options on 898,456 shares of ARS Pharmaceuticals Common Stock. These options give Casale the right to buy that number of shares at a fixed $7.96 exercise price if and when they vest and he chooses to exercise.

What is the exercise price and expiration date of Donn Casale’s SPRY stock options?

The options have a $7.96 per share exercise price and expire on June 30, 2036. This long-dated term gives Casale a lengthy window to potentially exercise once vesting conditions are satisfied over the coming years.

How do Donn Casale’s new ARS Pharmaceuticals (SPRY) options vest?

Vesting is staged over multiple years. Twenty-five percent of the shares vest on June 1, 2027, and the remaining options vest monthly over the subsequent three years, linking compensation to continued service and long-term company performance.

Did Donn Casale buy or sell any existing ARS Pharmaceuticals (SPRY) shares?

The filing shows a grant of stock options, not a market purchase or sale of existing shares. It records an acquisition of derivative securities as compensation, with no open-market buying or selling activity reported in this specific Form 4.