Stonehouse Jon P 4

What Happened

• Jon P. Stonehouse, a BIOCRYST Pharmaceuticals (BCRX) director, exercised 305,995 stock options and the resulting shares were sold back to the issuer on March 2, 2026. The sale generated about $2,643,797. He paid $985,304 to exercise those options (weighted exercise price $3.22), producing roughly $1.66M in gross proceeds before taxes and fees.
• Separately, on February 27, 2026, Stonehouse received 421 shares (valued at $3,684) issued in lieu of 50% of his prorated quarterly cash board retainer.

Key Details

• Transaction dates: Award on 2026-02-27; option exercise and sale on 2026-03-02. Form 4 filed on 2026-03-03 (timely).
• Exercise: 305,995 options exercised at $3.22 per share (total cost $985,304).
• Sale/disposition: 305,995 shares sold to the issuer at a weighted average price of $8.64 per share (total proceeds $2,643,797). Reported sale prices ranged $8.54–$8.81 (see footnote F3).
• Award/grant: 421 shares issued in lieu of part of the cash retainer (footnote F1).
• Plan/automation: The option exercise/sale was executed under a pre-established plan (10b5-1) adopted Nov 28, 2022 and modified in 2024; the filing notes the transactions occurred automatically and were not discretionary (footnote F2).
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context

• This was an option exercise immediately followed by sale back to the issuer (a cashless-style outcome): options exercised (derivative -> common) and the common shares were disposed to the issuer the same day.
• The 10b5-1 plan disclosure means the option conversion and sale were pre-planned and automated, which investors often view as reducing the significance of timing-based insider signals.
• The small award of 421 shares was a compensation substitution (not a market purchase) and is routine for board members.