Eton (ETON) Director Paul Maier Receives 10,000 RSU Award

What Happened
Paul Maier, a director of Eton Pharmaceuticals, was granted 10,000 performance‑vested restricted stock units (RSUs) on July 31, 2026. The award was reported as a derivative grant (code A) at $0.00 — each RSU represents the right to acquire one share of ETON common stock if performance conditions are met. The RSUs vest in full only if the closing price of Eton common stock equals or exceeds $72.36 for one trading day at any time before the third anniversary of the grant (July 31, 2029); otherwise the award is forfeited.

Key Details

• Transaction date: July 31, 2026; Form 4 filed August 4, 2026 (filed within the 2-business‑day deadline).
• Transaction type/code: Grant / Award (A); derivative grant of RSUs.
• Shares awarded: 10,000 RSUs; reported price $0.00.
• Vesting condition (footnote): Vests in full if closing price ≥ $72.36 for one trading day prior to July 31, 2029; if not met, award is forfeited on July 31, 2029.
• The number reported is the maximum and only number issuable under the award (no range or partial vesting tiers disclosed).
• Shares owned after the transaction: not specified in the supplied filing.
• Filing remark: reporting person authorized a designee to file this Form 4 on their behalf.

Context
RSUs are a form of equity compensation that convert to actual shares only upon vesting; because these are performance‑conditioned RSUs, they carry no immediate share ownership or cash outlay and will only result in shares (and potential tax consequences) if the specified market condition is met. This filing documents a compensation grant rather than an open‑market purchase or sale and thus should be viewed as a potential future issuance tied to a stock price target, not an immediate insider buy or sell.