TALPHERA, INC. — Director's Dealing 2024

Mar 15, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TALPHERA, INC. (TLPH)
CIK: 0001427925
Period of Report: 2024-03-15

Reporting Person: Nantahala Capital Management, LLC (10% Owner, See remarks)
Reporting Person: Harkey Wilmot B. (10% Owner, See remarks)
Reporting Person: Mack Daniel (10% Owner, See remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-03-15	Common Stock	X	755000	$5	Acquired	1992519	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-03-15	Put Option (obligation to buy)	$5	X	755000	Disposed	2024-03-15	Common Stock (755000)	Indirect

Footnotes

F1: Nantahala Capital Management, LLC ("NCM"), an investment adviser to certain private funds and managed accounts (the "NCM Investors") that hold shares of Common Stock and held certain derivative securities related thereto (the "Derivatives"), including the put options disclosed in this Form 4, may be deemed or have been deemed a beneficial owner of such securities. Each of Mr. Wilmot B. Harkey and Mr. Daniel Mack may be deemed a beneficial owner of the securities beneficially owned by NCM. Each of NCM, Mr. Harkey and Mr. Mack (the "Reporting Persons") disclaims beneficial ownership of the securities disclosed herein except to the extent of their respective pecuniary interests therein.