Thompson Peter A. 4

What Happened

• Peter A. Thompson, a director of ARS Pharmaceuticals, was granted an award of 30,000 derivative shares on 2026-06-24. The grant is reported at $0.00 (no cash paid) and is recorded as an award/derivative transaction rather than an open-market buy or sale.

Key Details

• Transaction date: 2026-06-24; Form 4 filed: 2026-06-26 (timely — filed within normal two-business-day window).
• Award amount: 30,000 shares; reported price: $0.00; total reported cash value at grant: $0.
• Vesting: The award vests in full on the earlier of June 24, 2027 or the date of ARS’s 2027 annual meeting of stockholders (per footnote F1).
• Transfer/benefit arrangement: Per footnote F2, the reporting person is obligated to transfer any securities or economic benefit from these awards to OrbiMed Advisors LLC and OrbiMed Capital GP VI LLC, which will ensure those benefits are provided to OrbiMed Private Investments VI, LP.
• Shares owned after transaction: Not specified in the provided filing summary.

Context

• This was an equity award to a director (compensation/retention vehicle), not an open-market purchase or sale. The award is a derivative instrument that vests in the future and does not represent immediate sale proceeds or buying activity. The contractual obligation to transfer the securities or their economic benefit to OrbiMed indicates the economic interest will be held/allocated to an institutional investor rather than retained personally by the director.