RA Capital Directors Awarded 30,000 Stock Options in ARS Pharmaceuticals

This Form 4 filing reports that directors Peter Kolchinsky and Rajeev Shah, along with RA Capital Management entities, were awarded 30,000 stock options in ARS Pharmaceuticals, Inc. (SPRY) on June 24, 2026. The options have an exercise price of $10.54 per share and expire on June 23, 2036. The options will vest in full on the earlier of June 24, 2027 or the date of the company's 2027 annual meeting. Kolchinsky, a managing partner of RA Capital Management, serves on ARS Pharmaceuticals' board of directors. The filing notes that Kolchinsky holds the options for the benefit of RA Capital Healthcare Fund LP and RA Capital Nexus Fund II, L.P., with any proceeds offsetting advisory fees owed to RA Capital Management. All reporting persons disclaim beneficial ownership except to the extent of their pecuniary interest.