BioCryst (BCRX) CLO sells 150K shares after option exercise

Rhea-AI Filing Summary

BioCryst Pharmaceuticals Chief Legal Officer Alane P. Barnes exercised stock options and sold shares in a planned transaction. On March 16, 2026, she exercised options for 150,000 shares of common stock at an exercise price of $5.51 per share.

The same day, she sold 150,000 shares of common stock at a weighted average price of $9.15 per share, with individual sale prices ranging from $8.95 to $9.57. After these transactions, she directly owned 400,703 shares of common stock. The filing states the sale was made automatically under a pre-arranged Rule 10b5-1 trading plan adopted on August 13, 2025, indicating it was not a discretionary trade.

Insider Trade Summary 10b5-1

Net Seller: 150,000 shares ($1,372,500)

Net Sell 3 txns

Insider Barnes Alane P

Role Chief Legal Officer

Sold 150,000 shs ($1.37M)

Type	Security	Shares	Price	Value
Exercise	Emp. Stock Option (Right to Buy)	150,000	$0.00	--
Exercise	Common Stock	150,000	$5.51	$827K
Sale	Common Stock	150,000	$9.15	$1.37M

Holdings After Transaction: Emp. Stock Option (Right to Buy) — 0 shares (Direct); Common Stock — 550,703 shares (Direct)

Footnotes (1)

1. This transaction was made pursuant to a plan adopted by the reporting person on August 13, 2025 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The transaction occurred automatically and does not represent a discretionary transaction by the reporting person. The price in column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $8.95 to $9.57. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote. The option grant became exercisable at the rate of 25% on each of the first, second, third, and fourth anniversaries of the date of grant.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Barnes Alane P

(Last) (First) (Middle)

4505 EMPEROR BLVD.

SUITE 200

(Street)

DURHAM NORTH CAROLINA 27703

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BIOCRYST PHARMACEUTICALS INC [ BCRX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/16/2026		M		150,000(1)	A	$5.51	550,703	D
Common Stock	03/16/2026		S		150,000(1)	D	$9.15(2)	400,703	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Emp. Stock Option (Right to Buy)	$5.51	03/16/2026		M			150,000(1)	02/27/2018(3)	02/27/2027	Common Stock	150,000	$0	0	D

Explanation of Responses:

1. This transaction was made pursuant to a plan adopted by the reporting person on August 13, 2025 in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The transaction occurred automatically and does not represent a discretionary transaction by the reporting person.

2. The price in column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $8.95 to $9.57. The reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, full information regarding the number of shares sold at each price within the range set forth in this footnote.

3. The option grant became exercisable at the rate of 25% on each of the first, second, third, and fourth anniversaries of the date of grant.

	/s/ Alane P. Barnes	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did BCRX Chief Legal Officer Alane P. Barnes report?

Alane P. Barnes reported exercising options for 150,000 BioCryst shares and selling 150,000 common shares. Both transactions occurred on March 16, 2026, and were disclosed in a Form 4 insider trading report for BioCryst Pharmaceuticals.

At what prices did the BCRX insider option exercise and share sale occur?

The options were exercised at an exercise price of $5.51 per share. The 150,000 common shares were then sold at a weighted average price of $9.15, with individual sales ranging between $8.95 and $9.57 per share.

How many BioCryst (BCRX) shares does the insider hold after these transactions?

Following the reported transactions, Alane P. Barnes directly holds 400,703 shares of BioCryst common stock. This figure reflects her position after exercising 150,000 options and selling 150,000 shares on March 16, 2026.

Were the BCRX insider share sales by Alane P. Barnes discretionary?

The filing states the sale was executed under a Rule 10b5-1 trading plan adopted on August 13, 2025. This means the transaction occurred automatically according to a preset plan, rather than as a discretionary trade timed by the insider.

What type of derivative security did the BCRX insider exercise?

Alane P. Barnes exercised an employee stock option granting the right to buy 150,000 shares of BioCryst common stock. The option, granted on February 27, 2018, became exercisable in 25% annual installments over four years.

What does the Form 4 for BCRX reveal about remaining option holdings?

The Form 4 shows a derivative exercise of 150,000 options with no remaining derivative position listed afterward. This indicates that, for this particular option grant, all reported options were exercised in the March 16, 2026 transaction.