SCHEDULE: Reviva Pharma Insider's Stake Drops Below 5%

Dr. Laxminarayan Bhat's beneficial ownership in Reviva Pharmaceuticals Holdings, Inc. has decreased to 3.8%, falling below the 5% reporting threshold.

Summary

• Dr. Laxminarayan Bhat, the Reporting Person, beneficially owns an aggregate of 3,680,874 shares of Reviva Pharmaceuticals Holdings, Inc. Common Stock.
• This aggregate ownership represents approximately 3.8% of the outstanding shares of Common Stock.
• The calculation is based on 96,337,119 shares of Common Stock outstanding as of September 22, 2025.
• On September 22, 2025, the Reporting Person ceased to be the beneficial owner of more than five percent of the Common Stock.
• The Reporting Person now holds sole voting and dispositive power over 3,352,177 shares, including 2,478,856 directly held shares and 873,321 shares from exercisable options.
• Shared voting and dispositive power is held over 328,697 shares, comprising 5,388 shares held by the Reporting Person's spouse and 323,309 shares from spouse's exercisable options.
• The reported beneficial ownership excludes 247,130 unvested options held by the Reporting Person and 86,034 unvested options held by the Reporting Person's spouse, which are not exercisable within 60 days.
• No transactions in the Common Stock or convertible securities were effected by the Reporting Person during the 60 days prior to the filing date.

Sentiment

Score: 5

Explanation: The filing is neutral as it is a factual, compliance-driven disclosure of a change in beneficial ownership, not an operational or financial performance update.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future operations or financial performance.

Industry Context

This filing is a routine regulatory disclosure of a change in beneficial ownership by an insider, and it does not provide information directly related to broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: Provides transparency regarding the ownership stake of a significant insider, indicating a reduction below the 5% threshold. This may be interpreted differently by various investors, but it is a factual disclosure of a past event.

Next Steps

• The Reporting Person is no longer subject to the reporting requirements of Rule 13d-1(a) promulgated under the Act, as they ceased to be the beneficial owner of more than five percent of the Common Stock.

Key Dates

Keywords

Reviva Pharmaceuticals, Laxminarayan Bhat, Beneficial Ownership, Schedule 13D, Common Stock, Insider Ownership, Shareholding, SEC Filing