Wendy L. Dixon - 25 Apr 2023 Form 4 Insider Report for ZEVRA THERAPEUTICS, INC. (ZVRA)

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	ZVRA	Stock Option (right to buy)	Award	$0	+22,500		$0.000000	22,500	25 Apr 2023	Common Stock	22,500	$5.59	Direct	F1, F2, F3
transaction	ZVRA	Stock Option (right to buy)	Award	$0	+36,300		$0.000000	36,300	03 May 2023	Common Stock	36,300	$4.97	Direct	F3, F4, F5

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

Id	Content
F1	The exercise price is equal to the closing price of the Issuer's common stock on the Nasdaq Global Select Market on the date of grant, April 25, 2023.
F2	This grant was awarded as compensation for the Reporting Person's service on the Issuer's board of directors.
F3	33.33% of the total shares subject to the option vest in equal annual installments beginning one day prior to the date of the first annual meeting of the Issuer's stockholders following the day of grant and continuing for the next two annual meeting of the Issuer's stockholders, such that the option will be fully vested one day prior to the date of the third annual meeting of the Issuer's stockholders following the day of the grant, provided that at the relevant vesting dates such optionee's directorial relationship has not been terminated as defined in and as determined under the Plan. All shares underlying the option will vest in full and become immediately exercisable upon a change of control of the Issuer.
F4	The exercise price is equal to the closing price of the Issuer's common stock on the Nasdaq Global Select Market on the date of grant, May 3, 2023.
F5	This grant was awarded as compensation for the Reporting Person's service on the Issuer's board of directors pursuant to the Issuer's ninth amended and restated non-employee director compensation policy.