Martin Patricia A. 4

What Happened

• Patricia A. Martin, a director of AN2 Therapeutics, was the recipient of repriced option awards on March 19, 2026 covering a total of 59,103 underlying shares (three separate award line items: 24,999; 10,362; 23,742). Each repriced option carries an exercise price of $3.91 per share (aggregate strike ≈ $231,093). The filing also reports matching dispositions to the issuer for the same amounts on the same date. These are derivative transactions (options/option-related) rather than open-market buys or sales.

Key Details

• Transaction date: March 19, 2026; Form 4 filed March 23, 2026 (timely filing).
• Awards: 24,999; 10,362; and 23,742 share equivalents granted (total 59,103).
• Dispositions: Matching dispositions to issuer of 24,999; 10,362; and 23,742 (total 59,103) on same date.
• Exercise price: $3.91 per share (footnote F1). Option is fully vested (F2). Board approved the repricing on March 19, 2026 (F3).
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Filing timeliness: Filed 4 days after the transaction date; report appears timely (Form 4 is generally due within two business days).

Context

• These are derivative/option-related actions—not a simple buy or open-market sale. The filing indicates a repricing of options (approved by the board) and simultaneous dispositions to the issuer; the filing does not show cash proceeds or an open-market sale. The exercise price ($3.91) is the repriced strike and may revert to the original exercise price under conditions described in the footnote (the “Premium End Date” provisions). No 10b5-1 plan, tax-withholding detail, or late-filing flag is indicated in the provided data.