TALPHERA director receives stock grants and options

TALPHERA, INC. director Mark A. Wan reported equity awards that increase his direct stake in the company.

Rhea-AI Filing Summary

TALPHERA, INC. director Mark A. Wan reported equity awards that increase his direct stake in the company. He received 5,100 shares of common stock as a grant, bringing his direct holdings to 13,959 shares. He was also granted options to buy 30,700 shares of common stock at an exercise price of $0.98 per share, expiring on June 21, 2036. The filing notes that the 5,100 restricted stock units and all of the option shares vest in full on the first anniversary of the grant date, as long as he continues to provide service to TALPHERA.

Insider Trade Summary

Grant/Award: 35,800 shares

Grant/Award 2 txns

Insider WAN MARK A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	30,700	$0.00	$0.00
Grant/Award	Common Stock	5,100	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 30,700 contracts (Direct); Common Stock — 13,959 shares (Direct)

Footnotes (3)

1. F1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.
2. F2. 100% of the restricted stock units shall vest on the first anniversary of the grant date, subject to Reporting Person's continuous service to the Company.
3. F3. 100% of the shares subject to the option shall vest on the one-year anniversary of the grant date, subject to the Reporting Person's continuous service to the Company.

Key Figures

Common stock grant: 5,100 shares Options granted: 30,700 options Option exercise price: $0.98 per share +4 more

7 metrics

Common stock grant 5,100 shares Restricted stock unit award to director

Options granted 30,700 options Stock Option (Right to Buy) award

Option exercise price <money>$0.98</money> per share Strike price for 30,700 options

Shares owned after grant 13,959 shares Common stock directly held post-transaction

Option expiration date <date>June 21, 2036</date> End of exercise period for options

RSU vesting schedule 100% after one year Subject to continuous service

Option vesting schedule 100% after one year Subject to continuous service

Key Terms

restricted stock unit, Stock Option (Right to Buy), continuous service, grant date

4 terms

restricted stock unit financial

"Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Stock Option (Right to Buy) financial

"Stock Option (Right to Buy) with 30,700.0000 shares underlying common stock."

continuous service financial

"subject to Reporting Person's continuous service to the Company."

grant date financial

"100% of the shares subject to the option shall vest on the one-year anniversary of the grant date"

The grant date is the day a company formally gives an employee or contractor the right to receive stock-based compensation, such as stock options or restricted shares. It matters to investors because it fixes key terms—like the price, the start of the ownership clock, and when the award will affect the company’s financial statements and share count—so it can influence dilution, reported expenses, and potential future selling pressure.

FAQ

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

What insider transactions did TALPHERA (TLPH) director Mark A. Wan report?

Mark A. Wan reported receiving 5,100 shares of TALPHERA common stock and options for 30,700 shares. Both awards were granted at no cash cost and are tied to continued service with the company, according to the Form 4 filing.

How many TALPHERA (TLPH) shares does Mark A. Wan own after this Form 4?

After the reported grant, Mark A. Wan directly holds 13,959 TALPHERA common shares. This figure reflects his ownership following the award of 5,100 additional shares, as disclosed in the insider transaction report.

What are the terms of Mark A. Wan’s TALPHERA stock options?

He was granted options for 30,700 TALPHERA common shares with an exercise price of $0.98 per share. These options expire on June 21, 2036, providing a long-dated right to purchase shares if vesting conditions are met.

When do Mark A. Wan’s TALPHERA restricted stock units vest?

The restricted stock units vest 100% on the first anniversary of the grant date. Vesting is conditioned on Mark A. Wan’s continuous service to TALPHERA through that one-year period, as outlined in the Form 4 footnotes.

When do Mark A. Wan’s TALPHERA stock options vest?

All 30,700 option shares vest in full on the one-year anniversary of the grant date. This vesting schedule also requires continuous service to TALPHERA until that anniversary, mirroring the terms for his restricted stock units.

Does the TALPHERA Form 4 show a stock purchase or sale by Mark A. Wan?

The Form 4 shows equity awards classified as acquisitions, not open-market buying or selling. He received restricted stock units and options as a grant, with no reported purchases or sales of TALPHERA shares in the market.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 06/24/2026 - 05:15 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^*

WAN MARK A

(Last) (First) (Middle)

C/O TALPHERA, INC.

1850 GATEWAY DRIVE, SUITE 175

(Street)

SAN MATEO CALIFORNIA 94404

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TALPHERA, INC. [ TLPH ]

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)
06/22/2026

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(1)	06/22/2026		A		5,100(2)	A	$0	13,959	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)	$0.98	06/22/2026		A		30,700		(3)	06/21/2036	Common Stock	30,700	$0	30,700	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock.

2. 100% of the restricted stock units shall vest on the first anniversary of the grant date, subject to Reporting Person's continuous service to the Company.

3. 100% of the shares subject to the option shall vest on the one-year anniversary of the grant date, subject to the Reporting Person's continuous service to the Company.

	/s/ Martha Adler, Attorney-in-Fact	06/24/2026
	** 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)