Morabito Christopher 4

What Happened
Christopher Morabito, Astria Therapeutics’ Chief Medical Officer, had derivative holdings canceled in connection with the Jan. 23, 2026 merger with BioCryst. The Form 4 reports dispositions to the issuer of 80,000 and 262,500 option-based share interests (aggregate 342,500). The filing lists no per-share price; a footnote explains in‑the‑money options were cashed out at the merger price formula (cash = number of shares × ($13.00 − exercise price)). The total cash paid to the reporting person is not specified in the Form 4.

Key Details

• Transaction date: 2026-01-23 (disposed to issuer, code D; derivative securities).
• Reported line items: 80,000 and 262,500 derivative share dispositions (total 342,500). Price shown as N/A in the filing.
• Shares owned after transaction: not specified in this filing.
• Footnote: Pursuant to the merger agreement, each in‑the‑money option (exercise price < $13.00) vested and was canceled for a cash payment equal to (shares × ($13.00 − exercise price)). Out‑of‑the‑money options (exercise price ≥ $13.00) were canceled for no consideration and are exempt from Section 16 reporting per Rule 16a‑4(d)/16b‑6(d).
• Filing timeliness: filed same day as the merger effective date (no late filing indicated).

Context
This was a corporate-action disposition tied to the merger (options canceled and, if in‑the‑money, converted into cash) rather than an open‑market sale by the executive. Such payments reflect the merger consideration for outstanding options and do not necessarily signal the insider’s ongoing view of the company’s public equity. For full details on cash amounts and the merger terms, see the merger agreement and related 8‑K disclosures.