ZVSA · ZyVersa Therapeutics, Inc.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

This Form 4 is being filed late as the result of an inadvertent administrative oversight.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

The options were granted on July 11, 2025, and vest and become exercisable in equal annual installments on the first three anniversaries of the grant date, subject to the Reporting Person's continued service on each such vesting date.

The option disclosed on this Form 4 was not previously reported due to an administrative oversight.

Share and dollar amounts give effect to the issuer's 1-for-35 reverse stock split effectuated on December 4, 2023, and 1-for-10 reverse stock split effectuated on April 25, 2024.

The option vests annually in three equal installments commencing on May 24, 2024.

The option disclosed on this Form 4 was not previously reported due to an administrative oversight.

Share and dollar amounts give effect to the issuer's 1-for-35 reverse stock split effectuated on December 4, 2023, and 1-for-10 reverse stock split effectuated on April 25, 2024.

The option vests annually in three equal installments commencing on May 24, 2024.

The option disclosed on this Form 4 was not previously reported due to an administrative oversight.

Share and dollar amounts give effect to the issuer's 1-for-35 reverse stock split effectuated on December 4, 2023, and 1-for-10 reverse stock split effectuated on April 25, 2024.

The option vests annually in three equal installments commencing on May 24, 2024.

The option disclosed on this Form 4 was not previously reported due to an administrative oversight.

Share and dollar amounts give effect to the issuer's 1-for-35 reverse stock split effectuated on December 4, 2023, and 1-for-10 reverse stock split effectuated on April 25, 2024.

The option vests annually in three equal installments commencing on May 24, 2024.

The option disclosed on this Form 4 was not previously reported due to an administrative oversight.

Share and dollar amounts give effect to the issuer's 1-for-35 reverse stock split effectuated on December 4, 2023, and 1-for-10 reverse stock split effectuated on April 25, 2024.

The option vests annually in three equal installments commencing on May 24, 2024.

The option disclosed on this Form 4 was not previously reported due to an administrative oversight.

Share and dollar amounts give effect to the issuer's 1-for-35 reverse stock split effectuated on December 4, 2023, and 1-for-10 reverse stock split effectuated on April 25, 2024.

The option vests annually in three equal installments commencing on May 24, 2024.

The option disclosed on this Form 4 was not previously reported due to an administrative oversight.

Share and dollar amounts give effect to the issuer's 1-for-35 reverse stock split effectuated on December 4, 2023, and 1-for-10 reverse stock split effectuated on April 25, 2024.

The option vests annually in three equal installments commencing on May 24, 2024.

The option vests in 3 equal annual installments commencing on January 26, 2024.

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $2.78 to $2.97 per share, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth herein.

100% of the option is immediately exercisable. The option vested in 3 equal annual installments commencing on April 2, 2020.

100% of the option is immediately exercisable. The option vested in 3 equal annual installments commencing on April 2, 2020.

The Issuer completed a business combination with Larkspur Health Acquisition Corp., a Delaware corporation ("Larkspur") in accordance with the terms of the Business Combination Agreement, dated July 20, 2022, as amended (the "Business Combination Agreement") by and among ZyVersa Therapeutics, Inc., a Florida corporation ("Old ZyVersa"), the Securityholder Representative (as defined in the Business Combination Agreement) named therein, Larkspur, and Larkspur Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Larkspur ("Merger Sub") pursuant to which Merger Sub merged with and into Old ZyVersa (the "Acquisition Merger"), with Old Zyversa as the surviving company of the Acquisition Merger and, after giving effecting to such Acquisition Merger, Old ZyVersa became a wholly-owned subsidiary of Larkspur and changed its name to the Issuer.

The securities were previously securities of Larkspur but were converted automatically to securities of the Issuer in connection with the transactions contemplated by the Business Combination Agreement.

The warrant is immediately exercisable in full.

The securities are held of record by Larkspur Health LLC (the "Sponsor"). Daniel J. O'Connor is the sole manager of Larkspur Health LLC and in such capacity has voting and investment discretion with respect to the common stock held of record by Larkspur Health LLC. By virtue of this relationship, Mr. O'Connor may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Mr. O'Connor disclaims any such beneficial ownership except to the extent of his pecuniary interest.

The Reporting Person paid $1,000 per share of Series A Convertible Preferred Stock and warrants in an amount equal to 100% of the common shares issuable upon conversion of the Series A Convertible Preferred Stock for an aggregate of $17,500. No half shares of the Series A Convertible Preferred Stock were issued, therefore, the reporting person received 18 shares of such preferred stock instead of 17.5.

The Series A Convertible Preferred Stock is perpetual and therefore has no expiration date.

The option vests in 3 equal annual installments commencing on January 28, 2023.

100% of the option is immediately exercisable. The option vested on July 1, 2021.

The option vests in 3 equal annual installments commencing on February 8, 2022.

The option vests in 3 equal annual installments commencing on February 8, 2022.

100% of the option is immediately exercisable. The option vested in 3 equal annual installments commencing on October 21, 2016.

100% of the option is immediately exercisable. The option vested in 3 equal annual installments commencing on April 2, 2020.

Received in connection with the Issuer's business combination with Larkspur Health Acquisition Corp., a Delaware corporation ("Larkspur") in accordance with the terms of the Business Combination Agreement, dated July 20, 2022, as amended (the "Business Combination Agreement") by and among ZyVersa Therapeutics, Inc., a Florida corporation ("Old ZyVersa"), the Securityholder Representative (as defined in the Business Combination Agreement) named therein, Larkspur, and Larkspur Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Larkspur ("Merger Sub") pursuant to which Merger Sub merged with and into Old ZyVersa (the "Acquisition Merger"), with Old Zyversa as the surviving company of the Acquisition Merger and, after giving effecting to such Acquisition Merger, Old ZyVersa became a wholly-owned subsidiary of Larkspur and changed its name to the Issuer.

100% of the option is immediately exercisable. The option vested in 4 equal annual installments commencing on October 30, 2017.

Received in connection with the Issuer's business combination with Larkspur Health Acquisition Corp., a Delaware corporation ("Larkspur") in accordance with the terms of the Business Combination Agreement, dated July 20, 2022, as amended (the "Business Combination Agreement") by and among ZyVersa Therapeutics, Inc., a Florida corporation ("Old ZyVersa"), the Securityholder Representative (as defined in the Business Combination Agreement) named therein, Larkspur, and Larkspur Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Larkspur ("Merger Sub") pursuant to which Merger Sub merged with and into Old ZyVersa (the "Acquisition Merger"), with Old Zyversa as the surviving company of the Acquisition Merger and, after giving effecting to such Acquisition Merger, Old ZyVersa became a wholly-owned subsidiary of Larkspur and changed its name to the Issuer.

The securities are held of record by Asclepius Master Fund, LTD. ("AM Fund"). Reporting Person serves as the managing director of AM Fund. Reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

The warrant is immediately exercisable in full.

100% of the option is immediately exercisable. The option vested on October 28, 2016.

100% of the option is immediately exercisable. The option vested in 3 equal annual installments commencing on June 9, 2016.

The option vests in 3 equal annual installments commencing on January 28, 2023.

100% of the option is immediately exercisable. The option vested in 3 equal annual installments commencing on April 11, 2015.

Received in connection with the Issuer's business combination with Larkspur Health Acquisition Corp., a Delaware corporation ("Larkspur") in accordance with the terms of the Business Combination Agreement, dated July 20, 2022, as amended (the "Business Combination Agreement") by and among ZyVersa Therapeutics, Inc., a Florida corporation ("Old ZyVersa"), the Securityholder Representative (as defined in the Business Combination Agreement) named therein, Larkspur, and Larkspur Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Larkspur ("Merger Sub") pursuant to which Merger Sub merged with and into Old ZyVersa (the "Acquisition Merger"), with Old Zyversa as the surviving company of the Acquisition Merger and, after giving effecting to such Acquisition Merger, Old ZyVersa became a wholly-owned subsidiary of Larkspur and changed its name to the Issuer.

The securities are held of record by MedicaRx Inc. ("MRx"). Reporting Person serves as the managing director of MRx. Reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

The Issuer completed a business combination with Larkspur Health Acquisition Corp., a Delaware corporation ("Larkspur") in accordance with the terms of the Business Combination Agreement, dated July 20, 2022, as amended (the "Business Combination Agreement") by and among ZyVersa Therapeutics, Inc., a Florida corporation ("Old ZyVersa"), the Securityholder Representative (as defined in the Business Combination Agreement) named therein, Larkspur, and Larkspur Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Larkspur ("Merger Sub") pursuant to which Merger Sub merged with and into Old ZyVersa (the "Acquisition Merger"), with Old Zyversa as the surviving company of the Acquisition Merger and, after giving effecting to such Acquisition Merger, Old ZyVersa became a wholly-owned subsidiary of Larkspur and changed its name to the Issuer.

The securities were previously securities of Larkspur but were converted automatically to securities of the Issuer in connection with the transactions contemplated by the Business Combination Agreement.

Mr. O'Connor paid $1,000 per share of Series A Convertible Preferred Stock and warrants in an amount equal to 100% of the common shares issuable upon conversion of the Series A Convertible Preferred Stock for an aggregate of $17,500. No half shares of the Series A Convertible Preferred Stock were issued, therefore, the reporting person received 18 shares of such preferred stock instead of 17.5.

The warrant is immediately exercisable in full.

The Issuer completed a business combination with Larkspur Health Acquisition Corp., a Delaware corporation ("Larkspur") in accordance with the terms of the Business Combination Agreement, dated July 20, 2022, as amended (the "Business Combination Agreement") by and among ZyVersa Therapeutics, Inc., a Florida corporation ("Old ZyVersa"), the Securityholder Representative (as defined in the Business Combination Agreement) named therein, Larkspur, and Larkspur Merger Sub, Inc., a Delaware corporation and a direct, wholly owned subsidiary of Larkspur ("Merger Sub") pursuant to which Merger Sub merged with and into Old ZyVersa (the "Acquisition Merger"), with Old Zyversa as the surviving company of the Acquisition Merger and, after giving effecting to such Acquisition Merger, Old ZyVersa became a wholly-owned subsidiary of Larkspur and changed its name to the Issuer.

The securities were previously securities of Larkspur but were converted automatically to securities of the Issuer in connection with the transactions contemplated by the Business Combination Agreement.

Mr. O'Connor paid $1,000 per share of Series A Convertible Preferred Stock and warrants in an amount equal to 100% of the common shares issuable upon conversion of the Series A Convertible Preferred Stock for an aggregate of $17,500. No half shares of the Series A Convertible Preferred Stock were issued, therefore, the reporting person received 18 shares of such preferred stock instead of 17.5.

The Series A Convertible Preferred Stock is perpetual and therefore has no expiration date.

100% of the option is immediately exercisable. The option vested in 4 equal annual installments commencing on October 30, 2017.

100% of the option is immediately exercisable. The option vested in 3 equal annual installments commencing on April 2, 2020.

The option vests in 3 equal annual installments commencing on February 8, 2022.

The option vests in 3 equal annual installments commencing on February 8, 2022.

The option vests in 3 equal annual installments commencing on January 28, 2023.