ARS Pharmaceuticals, Inc. — Director's Dealing 2025

Nov 15, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARS Pharmaceuticals, Inc. (SPRY)
CIK: 0001671858
Period of Report: 2025-11-13

Reporting Person: Dorsey Brian (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-13	Common Stock	M	21828	$0.64	Acquired	32617	Direct
2025-11-13	Common Stock	S	21828	$8.7067	Disposed	10789	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-13	Stock Option (Right to Buy)	$0.64	M	21828	Disposed	2028-11-28	Common Stock (21828)	Direct

Footnotes

F1: Includes 1,628 shares acquired under the Issuer's 2020 Employee Stock Purchase Plan ("ESPP") on December 31, 2024 and 3,137 shares acquired under the ESPP on June 30, 2025.

F2: The weighted average sale price for the transaction report was $8.7067, and the range of prices was between $8.63 and $8.835. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.

F3: Immediately exercisable.