Savara CFO exercises options, holds 536k shares

Savara Inc Chief Financial Officer David L. Lowrance exercised several stock option grants on March 18, 2026, acquiring a total of 366,747 shares of Common Stock through option exercises at strike prices ranging from $1.11 to $4.45 per share.

Rhea-AI Filing Summary

Savara Inc Chief Financial Officer David L. Lowrance exercised several stock option grants on March 18, 2026, acquiring a total of 366,747 shares of Common Stock through option exercises at strike prices ranging from $1.11 to $4.45 per share. To cover exercise costs and tax obligations, 116,760 shares of Common Stock were withheld by the issuer in transactions coded as F, which are tax-withholding dispositions rather than open‑market sales. Following these transactions, Lowrance directly owned 536,032 shares of Savara common stock. The derivative transactions reflect routine option exercises tied to grants that vest in quarterly installments, as described in the footnotes.

Insider Trade Summary

366,747 shares exercised/converted

Exercise 18 txns

Insider Lowrance David L

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	80,684	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	75,000	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	130,650	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	43,063	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	12,500	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	24,850	$0.00	$0.00
Exercise	Common Stock	80,684	$1.51	$122K
Exercise Price or Tax Liability	Common Stock	24,174	$5.04	$122K
Exercise	Common Stock	75,000	$1.59	$119K
Exercise Price or Tax Liability	Common Stock	23,661	$5.04	$119K
Exercise	Common Stock	130,650	$1.23	$161K
Exercise Price or Tax Liability	Common Stock	31,885	$5.04	$161K
Exercise	Common Stock	43,063	$1.11	$48K
Exercise Price or Tax Liability	Common Stock	9,485	$5.04	$48K
Exercise	Common Stock	12,500	$4.45	$56K
Exercise Price or Tax Liability	Common Stock	11,037	$5.04	$56K
Exercise	Common Stock	24,850	$3.35	$83K
Exercise Price or Tax Liability	Common Stock	16,518	$5.04	$83K

Holdings After Transaction: Stock Option (Right to Buy) — 563,937 contracts (Direct); Common Stock — 536,032 shares (Direct)

Footnotes (6)

1. F1. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of November 1, 2016, subject to the reporting person's continued service with the Issuer.
2. F2. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of December 20, 2019, subject to the reporting person's continued service with the Issuer.
3. F3. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of December 16, 2020, subject to the reporting person's continued service with the Issuer.
4. F4. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of December 14, 2021, subject to the reporting person's continued service with the Issuer.
5. F5. The option vests and becomes exercisable in sixteen equal installments on each quarterly anniversary of December 14, 2023, subject to the reporting person's continued service with the Issuer.
6. F6. The option vests and becomes exercisable in sixteen equal installments on each quarterly anniversary of December 12, 2024, subject to the reporting person's continued service with the Issuer.

FAQ

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

What insider transactions did Savara (SVRA) report for CFO David L. Lowrance?

Savara reported that CFO David L. Lowrance exercised multiple stock options, acquiring 366,747 shares of Common Stock on March 18, 2026. The filing also shows tax-withholding dispositions where shares were delivered to cover exercise costs and related tax liabilities.

How many Savara (SVRA) shares does the CFO hold after these Form 4 transactions?

After the reported transactions, CFO David L. Lowrance directly holds 536,032 shares of Savara common stock. This figure reflects both the option exercises that increased his position and the shares withheld to satisfy exercise price and tax obligations on March 18, 2026.

Were any of the Savara (SVRA) CFO’s Form 4 transactions open-market stock sales?

No open‑market sales are shown. The only dispositions reported are transactions coded F, which represent shares withheld by the issuer to pay the option exercise price or related tax liabilities. These are administrative, tax-related events rather than discretionary market sales.

What stock option grants did Savara (SVRA) CFO exercise in this Form 4?

The CFO exercised options to acquire shares at strike prices of $1.11, $1.23, $1.51, $1.59, $3.35 and $4.45. These options relate to grants that vest in sixteen equal quarterly installments, subject to continued service.

How many Savara (SVRA) shares were withheld for taxes in the CFO’s Form 4 filing?

The filing shows total tax-withholding dispositions of 116,760 shares of Common Stock across six transactions coded F. These shares were delivered to the issuer at prices including $5.04 per share to satisfy exercise price and associated tax obligations.

What do the vesting footnotes in the Savara (SVRA) Form 4 indicate about the CFO’s options?

The footnotes state each option grant vests in sixteen equal quarterly installments starting from specific grant dates, such as November 1, 2016 and December 12, 2024. Vesting is conditioned on the CFO’s continued service with Savara, reflecting typical long-term equity compensation.

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

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Accepted by SEC EDGAR 03/20/2026 - 04:16 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^*

Lowrance David L

(Last) (First) (Middle)

1717 LANGHORNE NEWTOWN ROAD

SUITE 300

(Street)

LANGHORNE PENNSYLVANIA 19047

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Savara Inc [ SVRA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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
Common Stock	03/18/2026	03/18/2026	M		80,684	A	$1.51	366,729	D
Common Stock	03/18/2026	03/18/2026	F		24,174	D	$5.04	342,555	D
Common Stock	03/18/2026	03/18/2026	M		75,000	A	$1.59	417,555	D
Common Stock	03/18/2026	03/18/2026	F		23,661	D	$5.04	393,894	D
Common Stock	03/18/2026	03/18/2026	M		130,650	A	$1.23	524,544	D
Common Stock	03/18/2026	03/18/2026	F		31,885	D	$5.04	492,659	D
Common Stock	03/18/2026	03/18/2026	M		43,063	A	$1.11	535,722	D
Common Stock	03/18/2026	03/18/2026	F		9,485	D	$5.04	526,237	D
Common Stock	03/18/2026	03/18/2026	M		12,500	A	$4.45	538,737	D
Common Stock	03/18/2026	03/18/2026	F		11,037	D	$5.04	527,700	D
Common Stock	03/18/2026	03/18/2026	M		24,850	A	$3.35	552,550	D
Common Stock	03/18/2026	03/18/2026	F		16,518	D	$5.04	536,032	D

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)	$1.51	03/18/2026	03/18/2026	M			80,684	(1)	11/01/2026	Common Stock	80,684	$0.00	0	D
Stock Option (Right to Buy)	$1.59	03/18/2026	03/18/2026	M			75,000	(2)	12/20/2029	Common Stock	150,000	$0.00	75,000	D
Stock Option (Right to Buy)	$1.23	03/18/2026	03/18/2026	M			130,650	(3)	12/16/2030	Common Stock	260,000	$0.00	129,350	D
Stock Option (Right to Buy)	$1.11	03/18/2026	03/18/2026	M			43,063	(4)	12/14/2031	Common Stock	100,000	$0.00	56,937	D
Stock Option (Right to Buy)	$4.45	03/18/2026	03/18/2026	M			12,500	(5)	12/14/2033	Common Stock	40,000	$0.00	27,500	D
Stock Option (Right to Buy)	$3.35	03/18/2026	03/18/2026	M			24,850	(6)	12/12/2034	Common Stock	300,000	$0.00	275,150	D

Explanation of Responses:

1. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of November 1, 2016, subject to the reporting person's continued service with the Issuer.

2. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of December 20, 2019, subject to the reporting person's continued service with the Issuer.

3. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of December 16, 2020, subject to the reporting person's continued service with the Issuer.

4. The option vested and became exercisable in sixteen equal installments on each quarterly anniversary of December 14, 2021, subject to the reporting person's continued service with the Issuer.

5. The option vests and becomes exercisable in sixteen equal installments on each quarterly anniversary of December 14, 2023, subject to the reporting person's continued service with the Issuer.

6. The option vests and becomes exercisable in sixteen equal installments on each quarterly anniversary of December 12, 2024, subject to the reporting person's continued service with the Issuer.

Remarks:

The option exercises reported herein were exercises of incentive stock options effected for tax planning purposes.

	/s/ David Lowrance	03/20/2026
	** 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)