NEKTAR THERAPEUTICS — Director's Dealing 2025

Dec 23, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: NEKTAR THERAPEUTICS (NKTR)
CIK: 0000906709
Period of Report: 2025-12-22

Reporting Person: ROBIN HOWARD W (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-22	Common Stock	A	21667	—	Acquired	75912	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-22	Stock Option	$43.48	A	86667	Acquired	2033-12-21	Common Stock (86667)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	28	Indirect

Footnotes

F1: Common stock was acquired pursuant to a grant of restricted stock units ("RSU"). Each RSU awarded represents a contingent right to receive, upon vesting of the unit, one share of Common Stock of the Issuer. These RSUs vest over four years from the date of grant (December 22, 2025) in substaintially equal quarterly installments based on continued service.

F2: Stock options vest over four years from the date of grant, (December 22, 2025) in substantially equal monthly installments based on continued service.