Zevra (ZVRA) CCO gets RSUs, 75,000-share option and sells stock

Rhea-AI Filing Summary

Zevra Therapeutics chief commercial officer Joshua Schafer reported multiple equity compensation events and a small share sale. On January 29, he received 37,500 restricted stock units and a stock option for 75,000 shares at $8.86 per share. On January 30, 11,333 RSUs vested and converted into common stock, and he sold 3,375 shares at a weighted average price of $8.8297 under a pre‑adopted Rule 10b5‑1(c) trading plan dated March 27, 2025. On January 31, a further 35,334 RSUs vested into common stock. The new RSU and option awards vest in multi‑year installments, contingent on his 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

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).

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^*

Schafer Joshua

(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)

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

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	01/30/2026		M		11,333	A	(1)	40,819	D
Common Stock	01/30/2026		S(2)		3,375	D	$8.8297(3)	37,444	D
Common Stock	01/31/2026		M		35,334	A	(1)	72,778	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		37,500		(4)	(4)	Common Stock	37,500	$0	37,500	D
Stock Option (right to buy)	$8.86	01/29/2026		A		75,000		(5)	01/28/2036	Common Stock	75,000	$0	75,000	D
Restricted Stock Unit	(1)	01/30/2026		M			11,333	(6)	(6)	Common Stock	11,333	$0	22,667	D
Restricted Stock Unit	(1)	01/31/2026		M			35,334	(7)	(7)	Common Stock	35,334	$0	35,333	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: 3/27/2025.

3. This transaction was executed in multiple trades at prices ranging from $8.64 to $9.03. 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 January 30, 2026. The remaining two thirds of the shares will vest and settle in equal annual installments thereafter, subject in each case to the Reporting person's continued service through such vesting date.

7. 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 Joshua Schafer	02/02/2026
	** 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.
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FAQ

What insider transactions did ZEVRA (ZVRA) CCO Joshua Schafer report on this Form 4?

Schafer reported new equity awards, RSU vesting, and a small share sale. He received 37,500 RSUs and options for 75,000 shares, had RSUs convert into common stock, and sold 3,375 shares of Zevra Therapeutics common stock in late January 2026.

How many Zevra Therapeutics (ZVRA) shares did the CCO sell and at what price?

The CCO sold 3,375 shares of Zevra Therapeutics common stock. The weighted average sale price was $8.8297 per share, with individual trades executed between $8.64 and $9.03, as disclosed in the footnotes describing the multiple trade execution range.

What new equity awards did ZEVRA (ZVRA) grant to its CCO in January 2026?

On January 29, 2026, the CCO received 37,500 restricted stock units and a stock option covering 75,000 shares at an exercise price of $8.86. Both awards were granted under Zevra’s Amended and Restated 2014 Equity Incentive Plan with multi‑year vesting schedules.

How do the new Zevra (ZVRA) RSU grants to the CCO vest over time?

The 37,500 new RSUs vest one‑third on January 29, 2027, and the remaining two‑thirds in equal annual installments thereafter. Vesting is conditioned on the CCO’s continued service through each vesting date, according to the detailed vesting footnote in the filing.

What is the vesting schedule for the new Zevra Therapeutics (ZVRA) stock option granted to the CCO?

The stock option for 75,000 shares vests in four equal annual installments beginning on the first anniversary of the January 29, 2026 grant date. Each installment becomes exercisable only if the CCO remains in service on the applicable vesting date, as the filing explains.

Were the ZEVRA (ZVRA) CCO’s share sales made under a Rule 10b5-1 trading plan?

Yes. The filing states the sale transaction was executed under a Rule 10b5‑1(c) trading plan. The adoption date of the referenced plan is March 27, 2025, indicating the sale followed a pre‑established trading arrangement rather than a discretionary, same‑day decision.