Aardvark Director Victor Tong Receives 44,964-Share Award

What Happened
Victor Edward Tong Jr., a director of Aardvark Therapeutics (AARD), received an award for 44,964 shares (derivative security) on 2026-08-14 at no cash cost (reported price $0.00; aggregate $0). The award is a time-based equity grant that does not represent a market purchase or sale.

Key Details

• Transaction date: 2026-08-14; Form 4 filed: 2026-08-21 (appears to be filed after the usual two-business-day deadline).
• Type: Award/Grant of a derivative equity instrument (code A). Reported acquisition price: $0.00; aggregate reported value: $0.
• Vesting: The award “shall vest in full” on the earlier of (i) August 14, 2027, or (ii) immediately prior to the Registrant’s next annual meeting of stockholders, subject to continuous service. (Footnote summary.)
• Shares owned after transaction: Not specified in the provided filing excerpt.
• No indication of immediate sale, 10b5-1 plan, or tax-withholding disposition in the provided details.

Context
This is a routine equity compensation grant to a board member rather than a market purchase or sale. Because the award vests over time and is subject to continued service, it does not indicate an immediate change in the director’s liquid ownership. Grants are common as compensation and should be interpreted differently than open-market purchases (which can be a stronger bullish signal).