Martin Patricia A. 4

What Happened
Patricia A. Martin, a director of AN2 Therapeutics, was granted a derivative award of 20,400 option shares on Feb 20, 2026. The Form 4 shows an acquisition at $0.00 per share (total cash paid $0). This is an award (grant) rather than a market purchase or sale.

Key Details

• Transaction date: February 20, 2026; Form 4 filed February 23, 2026 (filed within the SEC filing window).
• Transaction type/code: Grant/Award (derivative) — 20,400 shares acquired at $0.00.
• Vesting: The option shares vest on February 20, 2027, subject to continuous service through that date (footnote).
• Shares owned after transaction: Not specified in the provided filing.
• No sale or cash exercise occurred; this is a forward-looking, compensation-related grant.

Context
This was a compensation award (option grant) to a director. Because the shares are options that vest in one year, they are not immediately exercisable or marketable; the grant does not involve an immediate cash outlay. Awards like this are common for board compensation and do not by themselves indicate the director has bought or sold stock in the open market.