Tien-Li Lee - 14 Feb 2025 Form 4 Insider Report for Aardvark Therapeutics, Inc. (AARD)

Role: Chief Executive Officer, Director, 10%+ Owner
Signature: /s/ Tien-Li Lee
Issuer symbol: AARD
Transactions as of: 14 Feb 2025
Net transactions value: +$264,672
Form type: 4
Filing time: 19 Feb 2025, 16:35:58 UTC
Previous filing: 12 Feb 2025
Next filing: 13 Jun 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AARD	Common Stock	Conversion of derivative security		+41,303	+2.9%		1,479,633	14 Feb 2025	Direct	F1
transaction	AARD	Common Stock	Purchase	$264,672	+16,542	+1.1%	$16.00	1,496,175	14 Feb 2025	Direct
holding	AARD	Common Stock						1,474,028	14 Feb 2025	By Spouse

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	AARD	Series A Convertible Preferred Stock	Conversion of derivative security	$0	-350,002	-100%	$0.000000	0	14 Feb 2025	Common Stock	41,303		Direct	F1

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

Explanation of Responses:

Id	Content
F1	The Series A Convertible Preferred Stock of Aardvark Therapeutics, Inc. (the "Issuer") automatically converted on an 8.474-for-1 basis into shares of the Issuer's common stock ("Common Stock") immediately prior to the closing of the Issuer's initial public offering of its Common Stock. The Series A Convertible Preferred Stock had no expiration date.