Renz Justin A 4

What Happened
Justin A. Renz, Chief Financial Officer of Zevra Therapeutics, was granted an option to acquire 300,000 shares of the company's common stock on March 18, 2026. The option is a derivative award (reported as an acquisition) and was granted with an exercise price equal to the closing price of Zevra's common stock on the Nasdaq Global Select Market on the grant date, so it had no intrinsic value at grant. The filing shows no cash paid for the award.

Key Details

• Transaction date: March 18, 2026 (Form 4 filed March 19, 2026 — timely).
• Security: stock option for 300,000 shares (derivative award; transaction code A).
• Exercise price: set equal to the Nasdaq closing price on March 18, 2026 (exact dollar amount not stated in the filing).
• Vesting: four equal annual installments beginning on the first anniversary of the grant.
• Acceleration: all shares vest immediately prior to a change of control; vesting accelerates by 12 months if the reporting person is terminated without cause or resigns for good reason.
• Expiration: option expires 10 years after the grant date.
• Shares owned after transaction: not disclosed in this filing.
• No indication of a 10b5-1 plan, tax withholding, or sale of shares in this filing.

Context
This is a standard inducement stock option grant under the company’s 2023 Employment Inducement Award Plan—not an open-market purchase or sale. Because the option was granted at an exercise price equal to the market close, it carried no immediate intrinsic value; its potential future value depends on the stock rising above the strike price and on vesting conditions. Grants are common executive compensation; they do not by themselves indicate immediate insider buying or selling.