ARS Pharmaceuticals, Inc. — Director's Dealing 2025

May 22, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARS Pharmaceuticals, Inc. (SPRY)
CIK: 0001671858
Period of Report: 2025-05-20

Reporting Person: Scott Kathleen D. (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-20	Common Stock	M	50000	$1.50	Acquired	57424	Direct
2025-05-20	Common Stock	S	50000	$14.1033	Disposed	7424	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-20	Stock Option (Right to Buy)	$1.50	M	50000	Disposed	2032-02-29	Common Stock (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8250	Indirect

Footnotes

F1: Includes 2,475 shares acquired under the Issuer's 2020 Employee Stock Purchase Plan on December 31, 2024.

F2: The weighted average sale price for the transaction reported was $14.1033 and the range of prices were between $14.10 and $14.115. 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.