Eton (ETON) CEO Sean Brynjelsen Exercises Options

What Happened

• Sean Brynjelsen, President, CEO and a director of Eton Pharmaceuticals, reported exercising/converting derivatives. The primary transaction was a Jul 14, 2026 exercise of 200,000 shares at an exercise price of $1.37 per share (total cash paid $274,000) resulting in acquisition of 200,000 common shares. He also reported conversion/exercise activity for 27,500 shares on Jul 12, 2026 (reported at $0 in the filing).

Key Details

• Transaction dates and prices:
  • Jul 12, 2026: exercise/conversion of 27,500 shares (reported price $0).
  • Jul 14, 2026: exercise/conversion of 200,000 shares at $1.37/share (cash paid $274,000).
• Shares owned after transaction: Not specified in the provided Form 4 excerpt.
• Footnotes:
  • F1: On Jul 12, 2022, Brynjelsen was granted 110,000 RSUs that vest in four equal annual installments starting Jul 12, 2023.
  • F2: The option shares referenced vested annually from the grant date (Nov 10, 2017) in four equal installments.
• Filing timeliness: The Form 4 was filed Jul 14, 2026 for transactions on Jul 12 and Jul 14, 2026; no late filing was indicated in the provided data.
• Filing remark: A designated filer was authorized to submit this Form 4 on the reporting person's behalf.

Context

• These are exercises/conversions of derivatives (Form 4 code M). No sale or disposition of the resulting common shares was reported in this filing, so this action reflects acquisition (exercise/conversion), not an immediate cashless sale. The Jul 12 entry likely reflects vesting/conversion tied to earlier awards (see footnotes), while the Jul 14 entry shows a standard option exercise at $1.37 per share.