Akari Therapeutics Plc: director Patel Sandip I exercised 10,052 shares

What happened

• Patel Sandip I, a director, had multiple grant and exercise transactions reported. The filing shows grants of 12,100 ADSs at $7.90 on Aug 18, 2026 (value $95,578) and 4,313 ADSs at $7.90 on Oct 5, 2026 (value $34,068). The filing also shows exercises/conversions on Oct 14, 2026 acquiring 3,866 ADSs and 6,186 ADSs at $0.00 (reported aggregate nominal value $4).
• The filing reports disposals on Oct 14, 2026 of 3,866 ADSs at $16.16 for $62,475 and 6,186 ADSs at $16.16 for $99,966, totaling $162,441. The Aug 18, 2026 grant entries also include option/derivative awards of 45,000 ADSs and 15,000 ADSs listed at $0.00.

Key details

• Transaction dates and prices:
  • Aug 18, 2026: grant of 12,100 ADSs at $7.90 ($95,578) and derivative grants of 45,000 ADSs and 15,000 ADSs at $0.00 (derivative awards subject to vesting rules).
  • Oct 5, 2026: grant of 4,313 ADSs at $7.90 ($34,068).
  • Oct 14, 2026: exercise/conversion acquiring 3,866 ADSs and 6,186 ADSs at $0.00 (reported $2 and $2 nominal) and disposals of those same amounts at $16.16 for $62,475 and $99,966 respectively (total $162,441).
• Shares owned after the transaction: not provided in the supplied filing details.
• Relevant footnotes from the filing:
  • F1 and F2: the ADS RSU grants represent RSUs, with each RSU representing the right to receive 80,000 ordinary shares (par value $0.000000005 per ordinary share); RSU grants are subject to forfeiture if shareholder approval to increase the equity plan reserve ("Shareholder Approval") is not obtained and will vest in full on the date of Shareholder Approval.
  • F3: the RSU awards were granted in lieu of accrued but unpaid cash retainers payable to non-executive directors.
  • F4 and F5: the Aug 18, 2026 option/derivative grants (45,000 ADSs and 15,000 ADSs) are subject to forfeiture if Shareholder Approval is not obtained and include scheduled vesting terms tied to Shareholder Approval and service.
  • F8 and F9: prior agreements dated Dec 16, 2025 resulted in issuance to the reporting person of pre-funded warrants and accompanying warrants to purchase up to 3,866 ADSs and up to 6,186 ADSs.
  • F6 and F7: the pre-funded warrants became exercisable upon shareholder approval obtained Mar 2, 2026 and remain exercisable until fully exercised.
  • F10: the combined purchase price per one pre-funded warrant and accompanying warrant was $16.16.
• Timeliness: the Form 4 was filed on Oct 16, 2026. The Aug 18, 2026 transactions were reported on Oct 16, 2026 (reported more than two business days after the Aug 18, 2026 transaction dates).

Why it may matter

• The filing shows exercise/conversion of derivatives on Oct 14, 2026 and the same shares were disposed the same day at $16.16, consistent with an immediate sale following exercise (cashless exercise).
• The filing shows grant awards (RSUs and options) that are subject to shareholder approval and vesting schedules; the RSUs each represent rights to a large number of ordinary shares as described in footnotes.
• This filing does not show why the insider traded or why the company acted.