KAPLAN GILLA 4

What Happened
Gilla Kaplan, a director of Tyra Biosciences, exercised a total of 67,467 derivative shares (option exercises, code M) on March 25–26, 2026 and immediately disposed of them. She exercised 14,295 options and 53,172 options at a strike of $2.25 per share (exercise cost ≈ $151,801) and sold the resulting shares: 14,295 sold in the open market for a weighted average price of $36.97 (proceeds ≈ $528,506) and 53,172 disposed to the issuer at $37.75 (proceeds ≈ $2,007,153). Total proceeds reported are about $2.54 million. The filing notes the options were fully vested (F3).

Key Details

• Transaction dates: 2026-03-25 and 2026-03-26. Filing date: 2026-03-27 (timely).
• Exercises: 14,295 @ $2.25 (3/25) and 53,172 @ $2.25 (3/26).
• Sales/proceeds: 14,295 sold at weighted avg $36.97 (range $36.95–$37.11; F1) ≈ $528,506; 53,172 disposed to issuer at weighted avg $37.75 (range $37.25–$38.125; F2) ≈ $2,007,153. Total proceeds ≈ $2.54M.
• Reporting codes: M = exercise/conversion of derivative; S/D = sale/disposition. Some derivative-line entries show $0.00 price reflecting reporting of the exercise mechanics.
• Vesting: Fully vested (F3).
• Shares owned after the transactions: not specified in the provided filing data.

Context
This was effectively a cashless exercise — options were exercised and the resulting shares were immediately sold (some on the open market, some back to the issuer, likely to cover exercise cost/taxes). Such transactions are common for option holders and are procedural; they do not necessarily signal insider sentiment about the company.