ELMS STEVE 4

What Happened

• Steve Elms, a director of ADMA Biologics (ADMA), was reported to have received two award-type acquisitions on Feb 9, 2026: 10,690 restricted stock units (RSUs) and 17,730 derivative shares. Both awards were reported at $0 per share (typical for RSU grants).
• The 10,690 RSUs will vest in two equal installments on the six- and 12‑month anniversaries of the grant, becoming fully vested on the one‑year anniversary, subject to Mr. Elms’s continued service. The 17,730 are reported as derivative securities; a footnote indicates these relate to shares owned by a fund (see Key Details).

Key Details

• Transaction date: February 9, 2026; Form 4 filed February 11, 2026 (appears timely).
• Reported prices/values: $0.00 per share for both reported acquisitions (typical for equity awards).
• Shares owned after transaction (per filing footnote): effectively 98,020 securities counted for Mr. Elms (includes 10,690 RSUs granted Feb 9, 2026; 5,445 RSUs vesting Feb 19, 2026 from a prior grant; and 81,885 common shares owned).
• Footnotes of note:
  • F1: 10,690 RSUs vest in two equal installments at 6 and 12 months (subject to continued service).
  • F2: Breaks down the post-transaction beneficial count (10,690 RSUs from Feb 9, 2026; 5,445 RSUs from Feb 19, 2025; 81,885 owned shares).
  • F3: The 17,730 derivative shares are owned of record by Aisling Capital II LP; Mr. Elms is Aisling’s Board designee and may be deemed to have beneficial ownership but disclaims beneficial ownership except to the extent of any pecuniary interest.
  • F4: Related options (where applicable) vest in 12 equal monthly installments.
• Filing timeliness: Filed Feb 11 for a Feb 9 transaction (within the normal 2-business-day reporting window).

Context

• This was an award/grant (not a market purchase or sale), which is common for director compensation and does not itself signal a buying or selling decision by the insider.
• The 10,690 RSUs are time‑vesting and will convert to shares only if Mr. Elms remains in service through the vesting dates. The 17,730 derivative position is connected to a fund (Aisling) for which Mr. Elms is a designee; he disclaims direct beneficial ownership beyond any pecuniary interest.