ARS Pharmaceuticals, Inc. — Director's Dealing 2023

May 10, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARS Pharmaceuticals, Inc. (SPRY)
CIK: 0001671858
Period of Report: 2022-11-09

Reporting Person: Shawver Laura (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-11-09	Common Stock	S	43896	$4.58	Disposed	210346	Direct
2023-05-08	Common Stock	M	57100	$1.27	Acquired	267446	Direct
2023-05-08	Common Stock	S	57100	$6.16	Disposed	210346	Direct
2023-05-09	Common Stock	M	42900	$1.27	Acquired	253246	Direct
2023-05-09	Common Stock	S	42900	$5.31	Disposed	210346	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-08	Stock Option (Right to Buy)	$1.27	M	57100	Disposed	2030-04-28	Common Stock (57100)	Direct
2023-05-09	Stock Option (Right to Buy)	$1.27	M	42900	Disposed	2030-04-28	Common Stock (42900)	Direct

Footnotes

F1: Represents shares sold to satisfy estimated tax withholding obligations upon the settlement of restricted stock units.

F2: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions ranging from $4.53 to $5.31, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth herein.

F3: The sales reported on this Form 4 were sold pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 15, 2022.

F4: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions ranging from $6.00 to $6.44, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth herein.

F5: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions ranging from $5.00 to $5.92, inclusive. The Reporting Person undertakes to provide the the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range set forth herein.

F6: Immediately exercisable.