Zevra (NASDAQ: ZVRA) CEO logs 91,000-share sale plus new RSUs, options

Rhea-AI Filing Summary

Zevra Therapeutics President and CEO Neil F. McFarlane, who also serves as a director, reported several equity transactions. On February 2, 2026, he sold 91,000 shares of common stock at a weighted average price of $9.3783 per share under a Rule 10b5-1(c) trading plan adopted on March 21, 2025, leaving him with 364,350 common shares held directly.

On January 31, 2026, 233,334 restricted stock units (RSUs) vested and settled into the same number of common shares, increasing his directly held common stock to 455,350 shares before the subsequent sale and reducing his RSU balance to 233,333 units. Earlier, on January 29, 2026, he received equity awards of 125,000 RSUs and a 250,000-share stock option with a $8.86 exercise price, each subject to multi‑year vesting tied to continued service.

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

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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).

X

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^*

McFarlane Neil F.

(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
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

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	01/31/2026		M		233,334	A	(1)	455,350	D
Common Stock	02/02/2026		S(2)		91,000	D	$9.3783(3)	364,350	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
Restricted Stock Unit	(1)	01/29/2026		A		125,000		(4)	(4)	Common Stock	125,000	$0	125,000	D
Stock Option (right to buy)	$8.86	01/29/2026		A		250,000		(5)	01/28/2036	Common Stock	250,000	$0	250,000	D
Restricted Stock Unit	(1)	01/31/2026		M			233,334	(6)	(6)	Common Stock	233,334	$0	233,333	D

Explanation of Responses:

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

2. Adoption date of referenced 10b5-1(c) plan is: 03-21-2025.

3. This transaction was executed in multiple trades at prices ranging from $8.94 to $9.53. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request to the SEC staff, the Issuer or any security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

4. The restricted stock units will vest and settle as to one third of the restricted stock units on January 29, 2027, and the remaining two thirds of the restricted stock units will vest and settle in equal annual installments thereafter, subject in each case to the Reporting Person's continued service through such vesting date.

5. Grant to the Reporting Person of a stock option under the Issuer's Amended and Restated 2014 Equity Incentive Plan. The option will vest and become exercisable in four equal annual installments beginning on the first anniversary of the grant date, subject to the Reporting Person's continued service on such vesting date.

6. One third of the restricted stock units vested and settled on each of January 31, 2025 and January 31, 2026. The remaining one third of the shares will vest and settle on January 31, 2027, subject to the Reporting person's continued service through such vesting date.

Remarks:

	/s/ Timothy J. Sangiovanni, Attorney-in-Fact for Neil F. McFarlane	02/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider activity did Zevra Therapeutics (ZVRA) CEO Neil McFarlane report?

Neil McFarlane reported a sale of 91,000 Zevra common shares and multiple equity award events. These included vesting of 233,334 restricted stock units into common shares and new grants of 125,000 RSUs plus a 250,000-share stock option.

At what price did the Zevra (ZVRA) CEO sell his 91,000 shares?

The 91,000 Zevra common shares were sold at a weighted average price of $9.3783 per share. The transaction occurred through multiple trades between $8.94 and $9.53, as disclosed, with full trade details available upon request.

How many Zevra (ZVRA) shares does the CEO own after these transactions?

After the reported transactions, Neil McFarlane directly owns 364,350 shares of Zevra common stock. This figure reflects RSU vesting that increased his holdings to 455,350 shares, followed by the sale of 91,000 shares on February 2, 2026.

What new equity awards did the Zevra (ZVRA) CEO receive on January 29, 2026?

On January 29, 2026, Neil McFarlane received 125,000 restricted stock units and a stock option for 250,000 shares with a $8.86 exercise price. Both awards vest over several years, contingent on his continued service with the company.

How do the new restricted stock units for Zevra (ZVRA) CEO vest over time?

The newly granted 125,000 restricted stock units will vest and settle as to one third on January 29, 2027, with the remaining two thirds vesting in equal annual installments thereafter, assuming Neil McFarlane continues in service through each vesting date.

What are the vesting terms of the Zevra (ZVRA) CEO’s 250,000-share stock option?

The 250,000-share stock option granted at a $8.86 exercise price vests in four equal annual installments, beginning on the first anniversary of the January 29, 2026 grant date. Each tranche requires Neil McFarlane’s continued service on the applicable vesting date.

Was the Zevra (ZVRA) CEO’s 91,000-share sale made under a 10b5-1 trading plan?

Yes. The 91,000-share sale was reported as occurring under a Rule 10b5-1(c) trading plan. The plan’s adoption date is disclosed as March 21, 2025, indicating the sale followed a pre-established trading arrangement.