Talphera (TLPH) CEO boosts stake with 213,310-share open-market buy

Rhea-AI Filing Summary

TALPHERA, INC. Chief Executive Officer Vincent J. Angotti purchased 213,310 shares of common stock in an open-market transaction at $0.586 per share. Following this purchase, he directly owns 800,705 common shares. Footnotes note these shares relate to the third tranche closing of a PIPE financing and that the balance includes 10,000 shares acquired through the company’s employee stock purchase plan.

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

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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^*

Angotti Vincent J.

(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
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE OFFICER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/13/2026

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	03/13/2026		P		213,310(1)	A	$0.586	800,705(2)	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

Explanation of Responses:

1. On March 31, 2025, Talphera (the "Issuer") entered into a securities purchase agreement with the Reporting Person and certain other institutional investors (the "PIPE"). The Reporting Person purchased shares in the closing of the third tranche of the PIPE conducted by the Issuer.

2. Balance includes non-reportable acquisition of 10,000 shares of Common Stock through the Company's Employee Stock Purchase Plan.

	/s/ Martha Adler, Attorney-in-Fact	03/25/2026
	** 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 Talphera (TLPH) report for Vincent J. Angotti?

Talphera reported that CEO Vincent J. Angotti bought 213,310 common shares. The open‑market purchase was executed at $0.586 per share, increasing his direct ownership stake in the company’s stock as reflected in the post‑transaction holdings reported.

How many Talphera (TLPH) shares does the CEO own after this transaction?

After the reported transaction, CEO Vincent J. Angotti directly owns 800,705 Talphera common shares. This figure includes the recently purchased 213,310 shares and also reflects 10,000 shares acquired through the company’s employee stock purchase plan, according to the disclosure.

What was the purchase price in the latest Talphera (TLPH) insider buy?

The CEO’s recent Talphera share purchase was made at $0.586 per share. This price applies to the 213,310 common shares bought in an open‑market transaction, as detailed in the insider filing describing the non‑derivative acquisition of stock.

How is the Talphera (TLPH) CEO’s purchase connected to the company’s PIPE financing?

A footnote explains Talphera entered a securities purchase agreement for a PIPE financing, and the CEO bought shares in the closing of the third tranche. This ties his reported share acquisition directly to that PIPE transaction conducted by the company.

Does the Talphera (TLPH) filing mention employee stock purchase plan shares?

Yes. The filing states that the CEO’s reported balance includes a non‑reportable acquisition of 10,000 common shares through Talphera’s Employee Stock Purchase Plan. These plan shares are part of his total 800,705 directly held shares after the reported purchase.