Easom Eric 4

What Happened

• Eric Easom, CEO of AN2 Therapeutics (ANTX), had three option awards surrendered and replaced in a repricing transaction effective March 19, 2026. The affected option amounts were 249,999; 225,000; and 267,650 shares — a total of 742,649 option shares exchanged. The repriced options carry an exercise price of $3.91 per share (the issuer’s closing price on the repricing date). The reported transactions are derivative grants (A) and matching dispositions to the issuer (D); dollar amounts for acquired/disposed shares are shown as N/A in the filing.

Key Details

• Transaction date reported: March 19, 2026; Form 4 filed March 23, 2026 (filed within the required SEC window).
• New exercise price: $3.91 per share; note the exercise price will revert to the original pre-repricing price if the repriced option is exercised or the reporting person’s service terminates before the “Premium End Date.”
• Premium End Date: earliest of (i) Sept 19, 2027, (ii) a change in control, or (iii) the reporting person’s death or disability.
• Vesting: at least one option is fully vested (footnote F2). Other awards vest monthly (1/48 per month) from March 25, 2022 and January 1, 2023 as applicable (footnotes F4 and F5).
• Board approval: repricing was approved by the board on March 19, 2026 (footnote F3).
• Shares owned after the transaction: not specified in the excerpt provided — see the full Form 4 for total holdings.

Context

• This filing reflects a repricing/exchange of option awards (derivative transactions)—not an open-market buy or sale of common stock. Such repricings typically exchange prior option grants for new options with a lower strike; it is not an immediate sale of shares or a cash purchase. The filing is informational and does not, by itself, indicate the CEO’s view of the company’s near-term prospects.