Brian Dorsey - 13 Nov 2025 Form 4 Insider Report for ARS Pharmaceuticals, Inc. (SPRY)

Role: Chief Operating Officer
Signature: /s/ Kathleen Scott, Attorney-in-Fact
Issuer symbol: SPRY
Transactions as of: 13 Nov 2025
Net transactions value: -$176,080
Form type: 4
Filing time: 14 Nov 2025, 18:43:38 UTC
Previous filing: 03 Jan 2025
Next filing: 05 Jan 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Dorsey Brian	Chief Operating Officer	C/O ARS PHARMACEUTICALS, INC., 11682 EL CAMINO REAL, SUITE 120, SAN DIEGO	/s/ Kathleen Scott, Attorney-in-Fact	14 Nov 2025	0001380762

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SPRY	Common Stock	Options Exercise	$13,970	+21,828	+202%	$0.6400	32,617	13 Nov 2025	Direct	F1
transaction	SPRY	Common Stock	Sale	$190,050	-21,828	-67%	$8.71	10,789	13 Nov 2025	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SPRY	Stock Option (Right to Buy)	Options Exercise	$0	-21,828	-100%	$0.000000	0	13 Nov 2025	Common Stock	21,828	$0.6400	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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.