Vaxart VXRT director increases stake with November 2025 share buys

Rhea-AI Filing Summary

Vaxart, Inc. (VXRT) reported an insider share purchase by a director. On 11/17/2025, the director bought 23,217 shares of common stock in an open-market transaction at $0.393 per share and a further 16,783 shares at $0.405 per share. After these purchases, the director beneficially owned 96,566 shares, held directly. The filing notes the person’s role as a director and confirms the report is filed by a single reporting person.

Insider Trade Summary

Net Buyer: 40,000 shares ($15,921)

Net Buy 2 txns

Insider HERON ELAINE J

Role Director

Bought 40,000 shs ($16K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	23,217	$0.393	$9K
Purchase	Common Stock	16,783	$0.405	$7K

Holdings After Transaction: Common Stock — 79,783 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

HERON ELAINE J

(Last) (First) (Middle)

C/O VAXART, INC.

170 HARBOR WAY, SUITE 300

(Street)

SOUTH SAN FRANCISCO CA 94080

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Vaxart, Inc. [ VXRT ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	11/17/2025		P		23,217	A	$0.393	79,783	D
Common Stock	11/17/2025		P		16,783	A	$0.405	96,566	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:

Remarks:

Exhibit List Exhibit 24 Power of Attorney

	/s/ Edward Berg, Attorney-in-Fact for Elaine Heron	11/19/2025
	** 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.

FAQ

What insider transaction did Vaxart (VXRT) report in this Form 4?

A Vaxart director reported open-market purchases of common stock on 11/17/2025, increasing their directly held beneficial ownership.

How many Vaxart (VXRT) shares did the director purchase?

The director bought 23,217 shares at $0.393 per share and 16,783 shares at $0.405 per share in separate transactions.

What was the directors total Vaxart (VXRT) shareholding after the transactions?

Following the reported transactions, the director beneficially owned 96,566 shares of Vaxart common stock, held directly.

What is the relationship of the reporting person to Vaxart (VXRT)?

The reporting person is identified as a Director of Vaxart, Inc., with the Form 4 indicating this role in the relationship section.

Were any derivative securities reported in this Vaxart (VXRT) Form 4?

The filing includes a table for derivative securities, but no specific derivative transactions or holdings are listed in the provided content.

Was the Vaxart (VXRT) Form 4 filed for one or multiple reporting persons?

The box indicating Form filed by One Reporting Person is marked, so this report covers a single insider.