Patel Samir Rashmikant 4

4 · Akari Therapeutics Plc · Filed Jul 17, 2026

AI-generated summary of this filing

Updated Jul 17, 2026

Akari Therapeutics (AKTX) 10% Owner Samir Patel Exercises Options

What Happened

Samir Rashmikant Patel, a reported 10% owner of Akari Therapeutics plc (AKTX), exercised/converting derivative securities on July 7, 2026 to acquire a total of 44,948 American Depositary Shares (ADSs). The reported cash paid across the exercises is approximately $392,011. These transactions represent acquisitions (exercises of pre-funded warrants and warrants), not open-market sales.

Key Details

Transaction date: July 7, 2026; Form 4 filed July 17, 2026 (10 days later — appears late vs. the standard 2-business-day Form 4 deadline).
Breakdown by tranche:
- 1,209 ADSs exercised @ $8.00 = $9,672
- 1,209 ADSs exercised @ $32.00 = $38,688
- 15,466 ADSs exercised @ $0.00 = $6
- 15,466 ADSs exercised @ $16.16 = $249,931
- 5,799 ADSs exercised @ $0.00 = $2
- 5,799 ADSs exercised @ $16.16 = $93,712
Total ADSs acquired: 44,948; total cash paid reported: ~$392,011.
Each ADS represents 80,000 ordinary shares per the filing footnote; the ADSs therefore correspond to a very large equivalent number of ordinary shares (44,948 × 80,000 = 3,595,840,000 ordinary shares).
Shares owned after the transaction: not specified in the provided data.
Notable footnotes:
- F1: Each ADS = 80,000 ordinary shares.
- F2–F3: Pre-funded warrants remained exercisable until fully exercised and became exercisable after shareholder approval on March 2, 2026.
- F4: The combined purchase price per one pre-funded warrant plus Series G warrant was $16.16.
- F5: On Dec 16, 2025, Patel and the issuer completed a note-exchange that issued pre-funded warrants and warrants for up to 5,799 ADSs (these relate to the reported exercises).

Context

These were derivative exercises (code M) — i.e., conversion/exercise of warrants or pre-funded warrants into ADSs. There is no indication in the filing that the shares were immediately sold (no cashless sale reported).
The reporting person is a 10% owner (institutional/large holder status), which differs from executive insider trades; purchases by large holders show increased ownership but do not by themselves explain intent.
The filing appears late (filed July 17 for July 7 transactions), which may be relevant to timing disclosures for investors.

Form 4

Period: 2026-07-07

Director10% Owner

Transactions

Exercise/Conversion
American Depositary Shares representing Ordinary Shares
2026-07-07$8.00/sh+1,209$9,672→ 76,976 total(indirect: By LLC)
Exercise/Conversion
American Depositary Shares representing Ordinary Shares
2026-07-07$0.00/sh+15,466$6→ 92,442 total(indirect: By LLC)
Exercise/Conversion
American Depositary Shares representing Ordinary Shares
2026-07-07$0.00/sh+5,799$2→ 98,241 total(indirect: By LLC)
Exercise/Conversion
Pre-Funded Warrant to purchase American Depositary Shares
[F1][F2]
2026-07-07$32.00/sh+1,209$38,688→ 0 total(indirect: By LLC)
Exercise: $8.00From: 2023-10-06→ American Depositary Shares representing Ordinary Shares (1,209 underlying)
Exercise/Conversion
Pre-Funded Warrant to purchase ADSs
[F4][F3][F2]
2026-07-07$16.16/sh+15,466$249,931→ 0 total(indirect: By LLC)
Exercise: $0.00→ American Depositary Shares representing Ordinary Shares (15,466 underlying)
Exercise/Conversion
Pre-Funded Warrant to purchase ADSs
[F5][F3][F2]
2026-07-07$16.16/sh+5,799$93,712→ 0 total(indirect: By LLC)
Exercise: $0.00→ American Depositary Shares representing Ordinary Shares (5,799 underlying)

Holdings

Footnotes (5)

[F1]Each American Depositary Share ("ADS") represents 80,000 ordinary shares with a par value of $0.000000005 per ordinary share.
[F2]The pre-funded warrants remain exercisable until fully exercised.
[F3]The pre-funded warrants became exercisable upon shareholder approval, which was obtained on March 2, 2026.
[F4]The combined purchase price per one pre-funded warrant and accompanying Series G Warrant was $16.16.
[F5]On December 16, 2025, the Reporting Person and the Issuer entered into a note cancellation and exchange agreement, pursuant to which, in exchange for the entire outstanding principal amount and all accrued interest on the Issuer's unsecured promissory note held by the Reporting Person, the Issuer issued to the Reporting Person (i) pre-funded warrants (the "Note Exchange Unregistered Pre-Funded Warrants") to purchase up to 5,799 ADSs, at a purchase price of $16.16 per Note Exchange Unregistered Pre-Funded Warrant, and (ii) warrants to purchase up to 5,799 ADSs.

Signature

/s/ Abizer Gaslightwala, as Attorney-in-Fact|2026-07-17

1 file