<SEC-DOCUMENT>0001193125-25-123973.txt : 20250521
<SEC-HEADER>0001193125-25-123973.hdr.sgml : 20250521
<ACCEPTANCE-DATETIME>20250521160558
ACCESSION NUMBER:		0001193125-25-123973
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250521
DATE AS OF CHANGE:		20250521

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZEVRA THERAPEUTICS, INC.
		CENTRAL INDEX KEY:			0001434647
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				205894398
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36913
		FILM NUMBER:		25973147

	BUSINESS ADDRESS:	
		STREET 1:		1180 CELEBRATION BOULEVARD, SUITE 103
		CITY:			CELEBRATION
		STATE:			FL
		ZIP:			34747
		BUSINESS PHONE:		(321) 939-3416

	MAIL ADDRESS:	
		STREET 1:		1180 CELEBRATION BOULEVARD, SUITE 103
		CITY:			CELEBRATION
		STATE:			FL
		ZIP:			34747

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPHARM, INC
		DATE OF NAME CHANGE:	20130530

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPHARM INC
		DATE OF NAME CHANGE:	20080507
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d840123ddefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML><HEAD>
<TITLE>DEFA14A</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">
<DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, DC 20549 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Rule <FONT
STYLE="white-space:nowrap">14a-101)</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION REQUIRED IN PROXY STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A INFORMATION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Amendment No.&#8195;) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the Registrant&#8194;&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by a Party other
than the Registrant&#8194;&#9744; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Preliminary Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B></B>&#9744;<B></B><B></B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Confidential, for Use of the Commission Only (as permitted by Rule
<FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT> </B></P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Proxy Statement </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Definitive Additional Materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting Material under <FONT STYLE="white-space:nowrap">&#167;240.14a-12</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Zevra Therapeutics, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified in its Charter) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check all boxes that apply): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">No fee required </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee paid previously with preliminary materials </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules
<FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11</FONT> </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g840123dsp2.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>All Three Leading Proxy Advisory Firms &#150; ISS, Glass Lewis, and Egan-Jones &#150; Recommend Zevra
Stockholders Vote FOR the Company&#146;s Director Nominees </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>ISS, Glass Lewis, and Egan-Jones Unanimously Conclude Mangless Has Not
Made a Compelling Case for Change </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Board and Management Urge Stockholders to Follow Proxy Advisors&#146; Recommendation and Vote
&#147;FOR&#148; Wendy L. Dixon, Ph.D. and Tamara A. Favorito on the <U>WHITE</U> Proxy Card and &#147;WITHHOLD&#148; for Mangless Nominees </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CELEBRATION, Fla., May&nbsp;21, 2025 (GLOBE NEWSWIRE) &#150; Zevra Therapeutics, Inc. (NasdaqGS: ZVRA) (&#147;Zevra,&#148; or the &#147;Company&#148;), a
commercial-stage company focused on providing therapies to people living with rare disease, today announced that all three leading proxy advisory firms, Institutional Shareholder Services (&#147;ISS&#148;), Glass Lewis&nbsp;&amp; Co. (&#147;Glass
Lewis&#148;), and Egan-Jones Proxy Services (&#147;Egan-Jones&#148;) have recommended that stockholders vote &#147;FOR&#148; Wendy L. Dixon, Ph.D. and Tamara A. Favorito and &#147;WITHHOLD&#148; on dissident nominees Travis Mickle and Arthur Regan
on the<U>&nbsp;WHITE</U> proxy card at the upcoming 2025 Annual Meeting of Stockholders, scheduled to be held on May&nbsp;29, 2025 (the &#147;Annual Meeting&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In response to the positive recommendations from all three leading proxy advisors, the Zevra Board of Directors issued the following statement: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">&#147;We are pleased that all three leading proxy advisory firms &#150;<B> </B>ISS, Glass Lewis, and Egan-Jones &#150;<B> </B>unanimously
endorsed Zevra&#146;s current Board and strategic direction. These independent third-party recommendations validate our position that Mangless has failed to present a compelling case for change. Our Board and management team remain committed to
serving our stockholders and continuing the significant value creation we&#146;ve delivered under current leadership.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All three proxy advisors
concluded that Mangless (the &#147;dissident&#148;) has provided insufficient arguments to justify electing its nominees to the Board, and has <U>failed</U> to present a case for change.<SUP STYLE="font-size:75%; vertical-align:top">1</SUP> </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">ISS said, &#147;&#133;based on the limited information available in the public domain, the dissident has
presented a case for change that would be insufficient for a minority position, let alone the majority position that is effectively being sought&#133;&#148; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Glass Lewis acknowledged that Mangless failed to provide any clear strategy or explanation of what he intends to
accomplish or how he proposes to increase stockholder value, noting, &#147;While we consider the sum of available arguments already weighs meaningfully against the Dissident agenda, we believe it is worth stressing that Mr.&nbsp;Mangless has
forwarded no meaningful alternate tack for Zevra. More pointedly, we identify no clear plan of action to improve Zevra&#146;s operational efficacy and no concrete path to further increase shareholder value&#133;&#148; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Egan-Jones stated that, &#147;&#133;given the positive momentum Zevra Therapeutics is experiencing in its
strategic execution, electing the dissident nominees would be disruptive and could impede value creation.&#148; </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All three proxy
advisors emphasized the significant and outsized total shareholder returns under Zevra&#146;s current management team. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Notably, ISS stated, &#147;The company has meaningfully outperformed the broader biotech market over all periods
of measurement, including McFarlane&#146;s tenure as CEO. TSR outperformance was largely stimulated by the initial news reports of positive outcomes from Miplyffa, but the company has continued to outperform since then.&#148; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Egan-Jones further highlighted that, &#147;&#133;the past two years have yielded exceptional returns that have
outpaced both the total market (as represented by the VTI) and the S&amp;P Biotech ETF (XBI).&#148; </P></TD></TR></TABLE><DIV STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</DIV>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Permission to use quotes from the ISS report, the Glass Lewis report, and the Egan-Jones report was neither
sought nor obtained. </P></TD></TR></TABLE>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g840123dsp2.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">All three proxy advisors agree that Mangless&#146; nominees are not the right nominees for Zevra&#146;s
Board. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">ISS, in fact, stated, &#147;&#133;it is unclear how the dissident nominees, which include the former CEO, would
be able to contribute without disrupting the company&#146;s positive momentum. In other words, the facts and circumstances in this specific case suggest that there is a compelling reason to support both management nominees.&#148;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">ISS added, &#147;...the board&#146;s concerns about having a former CEO on the board and potential disruption are
valid.&#148; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Glass Lewis highlighted, &#147;Mr.&nbsp;Regan has limited, dated, and unrelated public board service,&#148; and
that &#147;publication of certain social media activity by Mr.&nbsp;Regan appears to suggest something of a blithe approach to compliance...&#148; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Egan-Jones questioned the relevant expertise of Mangless&#146; nominees, stating, &#147;&#133;we do not believe
Mr.&nbsp;Regan&#146;s background in proxy solicitation offers meaningful value in the context of Zevra&#146;s boardroom.&#148; </P></TD></TR></TABLE>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">YOUR VOTE MATTERS: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">VOTE THE
<U>WHITE</U> PROXY CARD TODAY </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zevra&#146;s Board of Directors urges stockholders to only use the <U>WHITE</U> proxy card to vote &#147;FOR&#148; the <FONT
STYLE="white-space:nowrap">re-election</FONT> of Wendy Dixon, Ph.D. and Tamara A. Favorito to the Company&#146;s Board as Class&nbsp;I directors to hold office until the 2028 Annual Meeting of Stockholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you receive a BLUE proxy card from Mr.&nbsp;Mangless, please disregard. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board strongly recommends that stockholders protect their investment in Zevra by casting their vote as soon as possible, regardless of plans to attend the
Annual Meeting on May&nbsp;29, 2025. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Zevra Therapeutics, Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zevra Therapeutics, Inc. is a commercial-stage company combining science, data, and patient needs to create transformational therapies for rare diseases with
limited or no treatment options. Our mission is to bring life-changing therapeutics to people living with rare diseases. With unique, data-driven development and commercialization strategies, the Company is overcoming complex drug development
challenges to make new therapies available to the rare disease community. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Expanded access programs are made available by Zevra Therapeutics, Inc. and its
affiliates and are subject to the Company&#146;s Expanded Access Program (EAP) policy, as published on its&nbsp;website. Participation in these programs is subject to the laws and regulations of each jurisdiction under which each respective program
is operated. Eligibility for participation in any such program is at the treating physician&#146;s discretion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For more information, please visit
<U>www.zevra.com</U> or follow us on&nbsp;X&nbsp;and&nbsp;LinkedIn. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cautionary Note Concerning Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include all statements that do not relate solely to historical or current facts, including without limitation statements regarding the Company&#146;s actions to enhance stockholder value, the Company&#146;s plans with respect to director
candidates nominated by stockholders; sale of the PRV and anticipated proceeds therefrom; our strategic, financial, operational, corporate governance, executive compensation, and product development objectives; and the timing of any of the
foregoing. Forward-looking statements are based on information currently available to Zevra and its current plans or expectations. They are subject to several known and unknown uncertainties, risks, and other important factors that may cause our
actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These and other important factors are described in detail in the
&#147;Risk Factors&#148; section of Zevra&#146;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1434647/000143774925007320/zvra20241231_10k.htm">Form
<FONT STYLE="white-space:nowrap">10-K</FONT></A> for </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g840123dsp2.jpg" ALT="LOGO">
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the year ended December&nbsp;31, 2024, filed on March&nbsp;
12, 2025 and Zevra&#146;s Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1434647/000143774925016523/zvra20250331_10q.htm">Form <FONT STYLE="white-space:nowrap">10-Q</FONT></A> for the quarter
ended March&nbsp;31, 2025, filed on May&nbsp;13, 2025, and Zevra&#146;s other filings with the SEC. While we may elect to update such forward-looking statements at some point in the future, except as required by law, we disclaim any obligation to do
so, even if subsequent events cause our views to change. Although we believe the expectations reflected in such forward-looking statements are reasonable, we cannot assure that such expectations will prove correct. These forward-looking statements
should not be relied upon as representing our views as of any date after the date of this press release. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information and Where to Find It
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zevra has filed with the SEC a definitive proxy statement on Schedule 14A, containing a form of&nbsp;WHITE&nbsp;proxy card, with respect to its
solicitation of proxies for the 2025 Annual Meeting of Stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE
PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) FILED BY ZEVRA, AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED BY ZEVRA WITH THE SEC WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ANY SOLICITATION.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors and security holders may obtain copies of these documents and other documents filed with the SEC by Zevra free of charge through the website
maintained by the SEC at www.sec.gov. Copies of the documents filed by Zevra are also available free of charge by accessing Zevra&#146;s investor relations website at&nbsp;<U>investors.zevra.com</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Participants in the Solicitation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Zevra, its directors,
executive officers, and employees may be deemed to be participants in the solicitation of proxies with respect to a solicitation by Zevra. Information about Zevra&#146;s executive officers and directors is available under the heading
&#147;Information about our Executive Officers and Directors&#148; in Part I of Zevra&#146;s <U><A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001434647/000143774925007320/zvra20241231_10k.htm">Annual Report on Form
<FONT STYLE="white-space:nowrap">10-K</FONT></A></U> for the year ended December&nbsp;31, 2024, which was filed with the SEC on March&nbsp;12, 2025 and under the headings &#147;Proposal 1: Election of Directors,&#148; &#147;Executive Officers,&#148;
&#147;Security Ownership of Certain Beneficial Owners and Management&#148; and &#147;Executive Compensation,&#148; and &#147;Director Compensation&#148; in Zevra&#146;s <U><A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1434647/000119312525086293/d930260ddefc14a.htm">definitive
 proxy statement on Schedule 14A</A></U> for its annual meeting of stockholders to be held in 2025, which was filed with the SEC on April&nbsp;21, 2025. To the extent holdings of our directors and executive officers of Zevra securities reported in
such definitive proxy statement change, such changes will be reflected on Statements of Change in Ownership on Forms 3, 4 or 5 filed with the SEC. These documents are available free of charge at the SEC&#146;s website at <U>www.sec.gov</U>. Copies
of the documents are also available free of charge by accessing Zevra&#146;s investor relations website at <U>investors.zevra.com</U>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contacts
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>For investor inquiries </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Nichol Ochsner </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 (732) <FONT STYLE="white-space:nowrap">754-2545</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">nochsner@zevra.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>For media inquiries </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">FTI Consulting&#8195; </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tanner Kaufman / Kyla MacLennan / Mike
Gaudreau </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">zevratherapeutics@fticonsulting.com </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>g840123dsp2.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g840123dsp2.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  (! 0(! 0(" @(" @(" P4# P,#
M P8$! ,%!P8'!P<&!P<("0L)" @*" <'"@T*"@L,# P,!PD.#PT,#@L,# S_
MVP!# 0(" @,# P8# P8," <(# P,# P,# P,# P,# P,# P,# P,# P,# P,
M# P,# P,# P,# P,# P,# P,# P,# S_P  1"  L *8# 2(  A$! Q$!_\0
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ML.U0 SNV#M1&P"< _M#K.LVGAS1[K4+^Y@LK"QA>XN;B>01Q01(I9W=CPJ@
MDD\ "OYM_P#@I%^UQXN_X+2_\%!M'\)> (+J]\/0WQT#P7IS91959OWM]*,?
M)YFSS&8CY(HT!^X2>;AZKB\144'*U*"UTCMVO;^D82L>Q?\ !N]H/QP_:D_;
M-MO&6I>/_'%[\/\ X=))/JPU+6+JYM=1GFAEBAM0C2%6;+&4Y!"B+G!9,_H)
M_P '%?C_ %WX:?\ !-K4=4\.:UJV@:FFOZ?&MWIMY):SA69\KO0@X/<9KZ)_
M8-_8T\._L%_LQ^'OAUX=591IT?GZG?;-KZK?. 9[AN_S$ *"3M1$7)VU\O\
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M]O%*+@7!A+%M_3'DC&/4U[;^R_\ LP:1^S/^R[X<^%4=P_B/1/#^G/IC2:A
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M #I*FSRW"]>HF&/NG/Z(>&?"^F>"M!M=*T;3K'2=+L4\NVL[*W2""W3^ZB(
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) '?R^\5V?__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
