Schafer Joshua 4

What Happened

• Joshua Schafer, Chief Commercial Officer of Zevra Therapeutics (ZVRA), sold 3,375 shares in an open-market transaction on Jan 30, 2026 for a weighted-average price of $8.83, generating about $29,800. Around Jan 30–31, he also had multiple derivative transactions: exercises/conversions that resulted in 11,333 shares (Jan 30) and 35,334 shares (Jan 31) being acquired and then reported as disposed at $0 (consistent with net settlement/withholding or immediate transfer of vested shares).
• On Jan 29, 2026 Schafer was awarded two sets of restricted stock units (RSUs) — 37,500 and 75,000 RSUs (derivative awards, $0 exercise price) — and received a stock option grant (see footnotes for vesting schedules).

Key Details

• Transaction dates and prices:
  • Jan 30, 2026: Open-market sale of 3,375 shares at a weighted-average $8.83 (prices in the trades ranged $8.64–$9.03) — proceeds ≈ $29,800 (F3).
  • Jan 30, 2026: Exercise/conversion of 11,333 derivative units (acquired) and 11,333 derivative shares reported disposed at $0 (M).
  • Jan 31, 2026: Exercise/conversion of 35,334 derivative units (acquired) and 35,334 derivative shares reported disposed at $0 (M).
  • Jan 29, 2026: Grants of 37,500 RSUs and 75,000 RSUs (A) and a stock option grant (see F4–F7 and F5 for vesting).
• Shares owned after the transactions: Not specified in the provided filing.
• Notable footnotes:
  • F1: Each RSU represents a contingent right to one common share.
  • F2: A 10b5-1 trading plan was adopted on 3/27/2025 (suggests sales may have followed a preset plan).
  • F3: Sale executed in multiple trades; weighted-average price reported.
  • F4–F7 and F5: Describe vesting/settlement schedules for the RSUs and the option grant; portions of RSUs vested/settled on Jan 30–31 as noted.
• Filing timeliness: Form filed 2026-02-02; filing appears to be within the standard Form 4 reporting window for these transactions (no late-filing flag provided).

Context

• The filing shows both awards/grants (RSUs and an option grant) and a small open-market sale. The large RSU/option activity reflects compensation and vesting mechanics rather than a simple buy/sell signal.
• The exercises/conversions followed by $0 disposals are commonly due to net share settlement or shares withheld to cover taxes or option exercise costs — not necessarily an independent cash sale. The only reported cash sale was the 3,375-share open-market sale (~$29.8K), which may have been executed under the 10b5-1 plan.