Patel Samir Rashmikant 4

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.