Raffi Asadorian - 10 Feb 2026 Form 4 Insider Report for TALPHERA, INC. (TLPH)

Role: Chief Financial Officer
Signature: /s/ Martha Adler, Attorney-in-Fact
Issuer symbol: TLPH
Transactions as of: 10 Feb 2026
Net transactions value: +$33,425
Form type: 4
Filing time: 20 Feb 2026, 20:23:20 UTC
Previous filing: 03 Apr 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
ASADORIAN RAFFI	Chief Financial Officer	C/O TALPHERA, INC., 1859 GATEWAY DRIVE, SUITE 175, SAN MATEO	/s/ Martha Adler, Attorney-in-Fact	20 Feb 2026	0001628970

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TLPH	Common Stock	Tax liability	$801	-958	-2%	$0.8361	46,256	10 Feb 2026	Direct	F1
transaction	TLPH	Commom Stock	Purchase	$36,554	+45,000	+97%	$0.8123	91,256	12 Feb 2026	Direct	F2
transaction	TLPH	Common Stock	Tax liability	$2,327	-2,933	-3.2%	$0.7934	88,323	14 Feb 2026	Direct	F1

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	TLPH	Stock Option (Right to Buy)	Award	$0	+260,000		$0.000000	260,000	12 Feb 2026	Common Stock	260,000	$0.8123	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents shares surrendered to the Issuer by the Reporting Person to pay required tax withholdings due to the vesting of RSUs.
F2	The restricted stock units shall vest in three equal consecutive annual installments on February 12, 2027, February 12, 2028 and February 12, 2029.
F3	On February 12, 2026, the reporting person was granted an option to purchase 260,000 shares of common stock. One fourth (1/4th) of the option shares shall vest on the one year anniversary of the grant date, and the remaining balance of the option shares shall vest in 36 equal consecutive monthly installments thereafter until fully vested so long as the reporting person remains in continuous service through such applicable vesting periods.