Lerner Teena 4

What Happened
Teena Lerner, a director of Applied Therapeutics (APLT), reported dispositions of a total of 393,053 shares and derivative awards in connection with the company’s merger. At the merger effective time (Jan 28, 2026) each outstanding common share was cancelled for $0.088 per share (net to the seller) plus one non-tradeable contingent value right (CVR). The cash received for the disposed securities is roughly $34,600; each disposed RSU/option was converted or cancelled under the Merger Agreement rather than sold on the open market.

Key Details

• Transaction date(s): Merger effective Jan 28, 2026; Form 4 filed Feb 3, 2026.
• Dispositions reported on the Form 4 (all 2026-02-03): 22,500 shares (common), 82,922 shares (change-of-control tender), plus 287,631 derivative units (various RSUs/options) — total 393,053.
• Per-share cash consideration: $0.088 net to seller; total cash ≈ $34,589. All holders also received one non-tradeable CVR per share as part of the Merger Consideration.
• Shares owned after transaction: Common stock holdings were cancelled/converted at the Effective Time (common shares reduced to zero; holder retains any CVRs per the Merger Agreement).
• Notable footnotes: RSUs (vested or unvested) were deemed vested and converted into Merger Consideration; certain out‑of‑the‑money options were vested prior to the Effective Time and any remaining out‑of‑the‑money options were cancelled for no consideration.
• Filing timeliness: Form filed Feb 3, 2026; merger effective Jan 28, 2026. (No timeliness flag provided in the supplied data.)

Context
These transactions were corporate-action-driven (merger/tender offer) conversions and cancellations rather than open-market sales. For retail investors, note that such dispositions reflect the terms of the Merger Agreement (cash + CVR per share) rather than a director actively selling stock in the market.