Director Kelly Michael receives 30,000 ARS Pharmaceuticals (SPRY) stock options

Rhea-AI Filing Summary

ARS Pharmaceuticals director Kelly Michael received a stock option grant for 30,000 shares of common stock at an exercise price of $10.54 per share. The option expires on June 23, 2036 and will vest in full on the earlier of June 24, 2027 or the company’s 2027 annual stockholder meeting.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Kelly Michael

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. [object Object]

Key Figures

Option grant size: 30,000 options Exercise price: $10.54 per share Shares underlying options: 30,000 shares +3 more

6 metrics

Option grant size 30,000 options Stock Option (right to buy) granted to director Kelly Michael

Exercise price $10.54 per share Exercise price for 30,000-share stock option grant

Shares underlying options 30,000 shares Common Stock underlying the derivative award

Post-grant derivative holdings 30,000 options Total derivative securities held after this transaction

Option expiration June 23, 2036 Expiration date of the stock option grant

Vesting date trigger Earlier of June 24, 2027 or 2027 meeting Full vesting of the 30,000-share option

Key Terms

Stock Option (right to buy), exercise price, expiration date, annual meeting of stockholders

4 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

exercise price financial

"conversion_or_exercise_price: 10.5400"

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.

expiration date financial

"expiration_date: 2036-06-23T00:00:00.000Z"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised.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.

annual meeting of stockholders financial

"earlier of June 24, 2027 or the date of the Issuer's 2027 annual meeting of stockholders"

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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^*

Kelly Michael

(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

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.

	/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 transaction did ARS Pharmaceuticals (SPRY) director Kelly Michael report?

Director Kelly Michael reported receiving a stock option grant for 30,000 shares of ARS Pharmaceuticals common stock. The option is a compensation-related award, not an open-market purchase, and gives the right to buy shares at a fixed exercise price in the future.

What is the exercise price of the ARS Pharmaceuticals (SPRY) options granted to Kelly Michael?

The options granted to Kelly Michael have an exercise price of $10.54 per share. This means he can buy up to 30,000 ARS Pharmaceuticals shares at $10.54 regardless of future market price, once the options are vested and exercisable.

When do Kelly Michael’s ARS Pharmaceuticals (SPRY) options vest?

The 30,000-share option grant vests in full on the earlier of June 24, 2027 or the date of ARS Pharmaceuticals’ 2027 annual stockholder meeting. Until that vesting event, the options generally cannot be exercised for common shares.

When do the ARS Pharmaceuticals (SPRY) options granted to Kelly Michael expire?

The stock options granted to Kelly Michael expire on June 23, 2036. If they are not exercised by that date, the right to purchase up to 30,000 ARS Pharmaceuticals common shares at $10.54 per share will lapse and become worthless.

Is Kelly Michael’s ARS Pharmaceuticals (SPRY) Form 4 a stock buy or a compensation grant?

The Form 4 reflects a compensation grant, not an open-market stock purchase. Kelly Michael received 30,000 stock options for ARS Pharmaceuticals as a director award, giving a future right to buy shares at a fixed exercise price.

How many ARS Pharmaceuticals (SPRY) derivative securities does Kelly Michael hold after this grant?

After this grant, Kelly Michael holds 30,000 derivative securities in the form of stock options. Each option is linked to one share of ARS Pharmaceuticals common stock, contingent on vesting and subject to the stated expiration date.