[Form 4] ZEVRA THERAPEUTICS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Alvin Shih, a director of Zevra Therapeutics (ZVRA), purchased 20,000 shares of the company's common stock on 09/12/2025 at a weighted-average price of $7.89 per share. The Form 4 shows the transaction was reported as an acquisition and that the reporting person beneficially owns 20,000 shares following the purchase. The footnote states the $7.89 figure is a weighted average from multiple trades priced between $7.85 and $7.90 and that detailed allocation of trades is available on request. The filing was signed by an attorney-in-fact on behalf of Mr. Shih.

Positive

• Director purchase disclosed: Alvin Shih acquired 20,000 shares, showing insider buying.
• Transparent pricing detail: Filing footnote reports a weighted-average price and the price range of $7.85 to $7.90 with offer to provide allocation details.

Negative

• None.

Insights

Securities Analyst

Director purchase of 20,000 shares at ~$7.89 signals modest insider buying but is not a standalone material catalyst.

The transaction represents a direct acquisition by a company director and increases his reported beneficial ownership to 20,000 shares. Insider purchases can be interpreted as alignment with shareholders, but the absolute size relative to company float and market cap is not provided in this filing, so materiality for valuation or control is indeterminate from this Form 4 alone. The weighted-average price disclosure and attorney-in-fact signature are routine and appropriately documented.

Corporate Governance Expert

Clear, properly executed disclosure of an insider purchase; governance procedures appear followed.

The Form 4 contains required elements: reporting person identity, relationship (Director), transaction date, transaction code (P for purchase), amount acquired, price range footnote, and signature by attorney-in-fact. There are no indications of omissions in the report itself. This filing provides transparency on an insider acquisition but does not disclose broader implications such as intent or future commitments.

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
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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).

1. Name and Address of Reporting Person^*

Shih Alvin

(Last) (First) (Middle)

C/O ZEVRA THERAPEUTICS, INC.

1180 CELEBRATION BOULEVARD, SUITE 103

(Street)

CELEBRATION FL 34747

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ZEVRA THERAPEUTICS, INC. [ ZVRA ]

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)
09/12/2025

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	09/12/2025		P		20,000	A	$7.89(1)	20,000	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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.85 to $7.90 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Timothy J. Sangiovanni, Attorney-in-Fact for Alvin Shih	09/15/2025
	** 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 did Alvin Shih report on the Form 4 for ZVRA?

The Form 4 reports that Alvin Shih, a director, purchased 20,000 shares of Zevra Therapeutics on 09/12/2025 at a weighted-average price of $7.89 per share.

How many ZVRA shares does Alvin Shih beneficially own after the transaction?

The filing shows he beneficially owns 20,000 shares following the reported acquisition.

What price did the insider pay for the ZVRA shares?

The reported price is a weighted-average of $7.89, with individual trades ranging from $7.85 to $7.90.

When was the Form 4 signed and by whom?

The Form 4 was signed on behalf of Alvin Shih by Timothy J. Sangiovanni, Attorney-in-Fact on 09/15/2025 as shown in the filing.

What transaction code is used on the Form 4 and what does it mean?

The filing uses transaction code "P", which indicates a purchase of the issuer's securities as reported on the form.