FitzPatrick Margaret M 4
4 · AN2 Therapeutics, Inc. · Filed Mar 23, 2026
Research Summary
AI-generated summary of this filing
AN2 Therapeutics (ANTX) Director Margaret FitzPatrick Reprices Options
What Happened
Margaret M. FitzPatrick, a director of AN2 Therapeutics (ANTX), was involved in derivative transactions on March 19, 2026 that reflect a board-approved repricing of stock options. The filing shows three repriced-option lots (11,463; 10,362; and 23,742 shares) — a total of 45,567 derivative shares — that were both recorded as acquired (grant/award) and immediately disposed to the issuer on the same date. The footnotes state the repriced option's exercise price is $3.91 per share and that the option is fully vested.
Key Details
- Transaction date: March 19, 2026; Form 4 filed March 23, 2026.
- Reported share counts: 11,463; 10,362; and 23,742 (total 45,567). Acquisition and disposition entries are derivative (not open-market common-stock trades).
- Reported price in transaction lines: N/A; footnote indicates repriced option exercise price = $3.91/share.
- Option status: fully vested (footnote). Board approved the repricing on March 19, 2026 (footnote).
- Shares owned after the transactions: not specified in the filing.
- No explicit indication of a 10b5-1 plan or late filing flag in the report.
Context
When a Form 4 shows near-simultaneous acquisition of derivative securities and disposition to the issuer, it commonly reflects a net settlement or share surrender to cover exercise costs or tax withholding rather than an open-market sale or a new cash purchase. The filing documents a repricing action (board approved) rather than a straightforward purchase or sale of common stock; no cash value for the net result is provided in the Form 4. Such equity-plan adjustments are routine for option management; they are informational but do not alone indicate the insider’s market view.
Insider Transaction Report
- Award
Stock Option (right to buy)
[F1][F3][F2]2026-03-19+11,463→ 11,463 totalExercise: $3.91Exp: 2032-05-04→ Common Stock (11,463 underlying) - Disposition to Issuer
Stock Option (right to buy)
[F3][F2]2026-03-19−11,463→ 0 totalExercise: $18.24Exp: 2032-05-04→ Common Stock (11,463 underlying) - Award
Stock Option (right to buy)
[F1][F3][F2]2026-03-19+10,362→ 10,362 totalExercise: $3.91Exp: 2032-05-11→ Common Stock (10,362 underlying) - Disposition to Issuer
Stock Option (right to buy)
[F3][F2]2026-03-19−10,362→ 0 totalExercise: $17.28Exp: 2032-05-11→ Common Stock (10,362 underlying) - Award
Stock Option (right to buy)
[F1][F3][F2]2026-03-19+23,742→ 23,742 totalExercise: $3.91Exp: 2033-06-06→ Common Stock (23,742 underlying) - Disposition to Issuer
Stock Option (right to buy)
[F3][F2]2026-03-19−23,742→ 0 totalExercise: $5.91Exp: 2033-06-06→ Common Stock (23,742 underlying)
Footnotes (3)
- [F1]The exercise price of the option is $3.91 per share, representing the closing price of the Issuer's common stock on the date of the repricing; provided that the exercise price will be increased to the original exercise price before repricing if, prior to the "Premium End Date" (as defined below), the repriced option is exercised or the Reporting Person's services with the Company is terminated. The "Premium End Date" means the earliest of: (i) September 19, 2027, (ii) the date of a change in control or (iii) the Reporting Person's death or disability.
- [F2]The option is fully vested.
- [F3]On March 19, 2026, the board of directors of the Issuer approved the repricing of the option. Except as further described in footnote 1, all other terms of the option remain unchanged.