Veradermics (MANE) Director Montanova Sells Shares & Exercises Options

What Happened

• Montanova Capital, LLC (listed as a director) sold a total of 750,000 Veradermics (MANE) shares in open-market/private-sale transactions on 2026-08-19: 690,601 shares at $107.25 ($74,066,957) and 59,399 shares at $107.25 ($6,370,543), totaling $80,437,500.
• On 2026-08-20 Montanova exercised in-the-money derivatives to acquire 149,000 and 151,000 shares (300,000 shares total). The filing shows corresponding dispositions recorded at $0.00, consistent with a net/cashless settlement; footnotes refer to Exhibit 99.1 for details.

Key Details

• Transaction dates and prices:
  • 2026-08-19: Sold 690,601 @ $107.25 = $74,066,957
  • 2026-08-19: Sold 59,399 @ $107.25 = $6,370,543
  • 2026-08-20: Exercised derivatives to acquire 149,000 and 151,000 shares; disposition lines show $0.00 (see Exhibit 99.1)
• Shares owned after the transactions: not specified in the provided excerpt — see the full Form 4/Exhibit 99.2 for post-transaction holdings.
• Footnotes F1–F8 point to Exhibit 99.1 for explanatory notes; Exhibits 99.2 and 99.3 provide joint filer info and signatures.
• Filing date: 2026-08-21. Based on the transaction dates (8/19 and 8/20), the Form 4 appears to have been filed within the standard two-business-day window.

Context

• The large sales represent a substantial cash realization (~$80.4M). The subsequent exercise and $0.00 disposition entries suggest the options were net-settled or otherwise cashless — check Exhibit 99.1 for the precise mechanics.
• Montanova Capital is an institutional holder listed as a director; this is not presented as an individual officer’s trade. For full context on ownership percentage, option grant terms, or any 10b5-1/tax withholding details, review the attached exhibits in the filing.