Funtleyder Leslie D. 4
4 · Applied Therapeutics, Inc. · Filed Feb 3, 2026
Research Summary
AI-generated summary of this filing
Applied Therapeutics (APLT) Interim CEO/CFO Leslie Funtleyder Sells Shares in Merger
What Happened
- Leslie D. Funtleyder, Interim Chief Executive Officer and Chief Financial Officer of Applied Therapeutics (APLT), reported dispositions tied to the company’s merger. She disposed of a total of 2,782,151 common-equivalent shares (including shares and derivative awards) in connection with the merger.
- The consideration was $0.088 per share in cash (about $244,829 total) plus one non-tradeable contingent value right (CVR) per share, per the Merger Agreement. The filings show an earlier compensatory grant of 1,187,500 restricted stock units (RSUs) on 2025-12-19 that vested/converted under the merger terms.
Key Details
- Transaction dates: RSU grant on 2025-12-19; merger effective 2026-01-28; Form 4 filed 2026-02-03.
- Price/consideration: $0.088 per share in cash plus a CVR; cash proceeds ≈ $244,829.
- Breakdown (as reported): 2,375,000 shares tendered to the issuer; 152,959 shares disposed in change of control; ~254,192 shares from derivative awards/options converted/cancelled.
- Shares owned after transaction: All outstanding common shares and RSUs were canceled/converted at the effective time of the merger; common shares were converted into the merger consideration.
- Notable footnotes: RSUs were compensatory awards that vested upon a Change in Control; all outstanding RSUs/options were treated per the Merger Agreement (vested and converted or, if out‑of‑the‑money, cancelled).
- Filing: Form 4 filed on Feb 3, 2026 reporting these merger-related dispositions (effective at the merger’s Jan 28, 2026 Effective Time).
Context
- These transactions are merger-related conversions/cancellations (dispositions to the issuer), not open-market sales; the insider received the negotiated merger consideration (cash + CVR). For retail investors, merger conversions typically reflect deal terms rather than a direct trading decision by the insider.
Insider Transaction Report
Form 4Exit
Funtleyder Leslie D.
DirectorChief Financial Officer
Transactions
- Award
Common Stock
[F1]2025-12-19+1,187,500→ 2,527,959 total - Disposition to Issuer
Common Stock
[F2][F3]2026-02-03−2,375,000→ 152,959 total - Disposition from Tender
Common Stock
[F2][F4]2026-02-03−152,959→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
[F5]2026-02-03−20,460→ 0 totalExercise: $1.05→ Common Stock (20,460 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
[F5]2026-02-03−10,230→ 0 totalExercise: $1.05→ Common Stock (10,230 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
[F5]2026-02-03−16,500→ 0 totalExercise: $1.05→ Common Stock (16,500 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
[F5]2026-02-03−16,500→ 0 totalExercise: $1.05→ Common Stock (16,500 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
[F5]2026-02-03−150,000→ 0 totalExercise: $1.02→ Common Stock (150,000 underlying) - Disposition to Issuer
Stock Option (Right to Buy)
[F5]2026-02-03−40,502→ 0 totalExercise: $4.70→ Common Stock (40,502 underlying)
Footnotes (5)
- [F1]Consists of compensatory Restricted Stock Units ("RSUs") granted under the Applied Therapeutics, Inc.'s 2019 Equity Incentive Plan. Each compensatory RSU represents a contingent right to receive one share of the Issuer's common stock. The compensatory RSUs shall vest in full upon the earlier of (i) the consummation of a Change in Control (as defined in the Plan) or (ii) June 19, 2026, in each case, subject to the Reporting Person continuing to provide services through each such date.
- [F2]Pursuant to the terms of that certain Agreement and Plan of Merger (the "Merger Agreement") dated as of December, 11, 2025, among the Issuer, Cycle Group Holdings Limited and AT2B, INC. ("Purchaser"), Purchaser completed a tender offer for shares of Issuer and thereafter merged with and into the Issuer (the "Merger"), effective as of January 28, 2026, with the Issuer surviving the Merger. At the effective time of the Merger (the "Effective Time"), each outstanding share of Issuer common stock was cancelled and converted into the right to receive (i) $0.088 per share of common stock, net to the seller in cash, without interest (the "Closing Amount") plus (ii) one non-tradeable contingent value right, in accordance with the terms and subject to the conditions of a contingent value rights agreement (the "Merger Consideration").
- [F3]Pursuant to the Merger Agreement, at the Effective Time, each outstanding RSU (whether vested or unvested) was deemed to have vested and was cancelled and automatically converted into the right to receive the Merger Consideration.
- [F4]Pursuant to the Merger Agreement, each share of common stock tendered by the Reporting Person was tendered in exchange for the Merger Consideration.
- [F5]Pursuant to the Merger Agreement, at the Effective Time, each option to purchase shares of common stock (each a "Stock Option") that has a per share exercise price that equals or exceeds the Closing Amount as of immediately prior to the Effective time (each such Stock Option, an "Out-of-the-Money Option"), to the extent not vested, was fully vested as of prior to the Effective Time. Any Out-of-the-Money Options that remained outstanding and unexercised as of the Effective Time were cancelled for no consideration at the Effective Time.
Signature
/s/ Leslie D. Funtleyder|2026-02-03