FitzPatrick Margaret M 4

What Happened
Margaret M. FitzPatrick, a director of AN2 Therapeutics (ANTX), was involved in derivative transactions on March 19, 2026 that reflect a board-approved repricing of stock options. The filing shows three repriced-option lots (11,463; 10,362; and 23,742 shares) — a total of 45,567 derivative shares — that were both recorded as acquired (grant/award) and immediately disposed to the issuer on the same date. The footnotes state the repriced option's exercise price is $3.91 per share and that the option is fully vested.

Key Details

• Transaction date: March 19, 2026; Form 4 filed March 23, 2026.
• Reported share counts: 11,463; 10,362; and 23,742 (total 45,567). Acquisition and disposition entries are derivative (not open-market common-stock trades).
• Reported price in transaction lines: N/A; footnote indicates repriced option exercise price = $3.91/share.
• Option status: fully vested (footnote). Board approved the repricing on March 19, 2026 (footnote).
• Shares owned after the transactions: not specified in the filing.
• No explicit indication of a 10b5-1 plan or late filing flag in the report.

Context
When a Form 4 shows near-simultaneous acquisition of derivative securities and disposition to the issuer, it commonly reflects a net settlement or share surrender to cover exercise costs or tax withholding rather than an open-market sale or a new cash purchase. The filing documents a repricing action (board approved) rather than a straightforward purchase or sale of common stock; no cash value for the net result is provided in the Form 4. Such equity-plan adjustments are routine for option management; they are informational but do not alone indicate the insider’s market view.