Day Lucy 4

4 · AN2 Therapeutics, Inc. · Filed Mar 23, 2026

AI-generated summary of this filing

Updated Mar 23, 2026

AN2 Therapeutics (ANTX) CFO Day Lucy Reprices 221,965 Option Shares

What Happened

Day Lucy, Chief Financial Officer of AN2 Therapeutics (ANTX), was involved in derivative transactions on March 19, 2026 that affected a total of 221,965 option shares (73,665 + 66,000 + 82,300). The Form 4 shows simultaneous "acquired" (A) and "disposed to issuer" (D) entries — consistent with the board-approved repricing and exchange/cancellation and reissuance of option awards rather than purchases or sales in the open market.
Footnotes show the repriced options carry an exercise price of $3.91 per share (the company’s closing price on the repricing date). One option is noted as fully vested; other awards have monthly vesting schedules tied to 3/25/2022 and 1/1/2023 start dates per the filing.

Key Details

Transaction date: March 19, 2026; Form 4 filed March 23, 2026 (appears to be filed after the usual 2-business-day Form 4 deadline).
Shares/options affected: 73,665; 66,000; 82,300 — total 221,965 derivative shares. All entries are derivative awards (not open‑market trades).
Exercise price (repriced): $3.91 per share (see footnote F1). The repriced option includes a "Premium End Date" clause and may revert to the original exercise price under specified conditions (per F1).
Vesting notes: at least one option fully vested (F2); other awards vest monthly per F4 and F5.
Net change in common stock reported: these entries reflect exchange/cancellation and reissuance (no cash sale/purchase to/from market); the filing does not indicate a change in beneficial ownership of common shares attributable to open‑market transactions.

Context

This filing documents a repricing/adjustment of option awards approved by the board (footnote F3). For retail investors, repricings are administrative actions that reset exercise prices and do not necessarily represent a bullish or bearish personal trade by the insider.
Because the transactions are derivative (options) and show both acquisition and disposition to the issuer on the same date, they typically reflect contractual reissuance/cancellation mechanics rather than immediate exercise-for-cash or open‑market sales.

Form 4

Period: 2026-03-19

Chief Financial Officer

Transactions

Award
Stock Option (right to buy)
[F1][F3][F2]
2026-03-19+73,665→ 73,665 total
Exercise: $3.91Exp: 2031-04-29→ Common Stock (73,665 underlying)
Disposition to Issuer
Stock Option (right to buy)
[F3][F2]
2026-03-19−73,665→ 0 total
Exercise: $6.60Exp: 2031-04-29→ Common Stock (73,665 underlying)
Award
Stock Option (right to buy)
[F1][F3][F4]
2026-03-19+66,000→ 66,000 total
Exercise: $3.91Exp: 2032-05-11→ Common Stock (66,000 underlying)
Disposition to Issuer
Stock Option (right to buy)
[F3][F4]
2026-03-19−66,000→ 0 total
Exercise: $17.28Exp: 2032-05-11→ Common Stock (66,000 underlying)
Award
Stock Option (right to buy)
[F1][F3][F5]
2026-03-19+82,300→ 82,300 total
Exercise: $3.91Exp: 2033-02-14→ Common Stock (82,300 underlying)
Disposition to Issuer
Stock Option (right to buy)
[F3][F5]
2026-03-19−82,300→ 0 total
Exercise: $14.29Exp: 2033-02-14→ Common Stock (82,300 underlying)

Footnotes (5)

[F1]The exercise price of the option is $3.91 per share, representing the closing price of the Issuer's common stock on the date of the repricing; provided that the exercise price will be increased to the original exercise price before repricing if, prior to the "Premium End Date" (as defined below), the repriced option is exercised or the Reporting Person's services with the Company is terminated. The "Premium End Date" means the earliest of: (i) September 19, 2027, (ii) the date of a change in control or (iii) the Reporting Person's death or disability.
[F2]The option is fully vested.
[F3]On March 19, 2026, the board of directors of the Issuer approved the repricing of the option. Except as further described in footnote 1, all other terms of the option remain unchanged.
[F4]The shares subject to the option vest as follows: 1/48 of the shares shall vest on each monthly anniversary measured from March 25, 2022, subject to the Reporting Person's continuous service through each applicable vesting date.
[F5]The shares subject to the option vest as follows: 1/48 of the shares shall vest on each monthly anniversary measured from January 1, 2023, subject to the Reporting Person's continuous service through each applicable vesting date.

Signature

/s/ Lucy Day|2026-03-23

1 file