McCracken Joseph S 4

What Happened
Joseph S. McCracken, a director of Savara Inc. (SVRA), exercised stock options on Feb 16, 2026 to acquire 1,807 common shares at a strike price of $1.76 per share (total cash paid $3,180). The Form 4 also records the disposition of the underlying derivative (the option) at $0.00 consideration, reflecting the option being surrendered on exercise (transaction code M).

Key Details

• Transaction date: 2026-02-16. Exercise price: $1.76 per share. Shares acquired: 1,807. Total cash paid: $3,180.
• Derivative disposed: 1,807 option shares recorded as disposed at $0.00 (standard when options are converted into shares).
• Footnote: F1 — the option shares vested in twelve equal quarterly installments beginning March 15, 2017.
• Filing: Form 4 was filed 2026-02-17 for a 2026-02-16 transaction (timely filing).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context
This was an exercise of previously granted options (not an open-market purchase or sale). The insider paid the strike price in cash ($1.76/share) rather than a cashless exercise or immediate sale of shares, indicating retention of the acquired shares at least at the time of filing. Recording both an acquisition of underlying shares and the disposition of the derivative is standard bookkeeping for option exercises.