Hoerter Steven L. 4/A

What Happened

• Steven L. Hoerter, a non-employee director of MBX Biosciences, was awarded 33,751 derivative shares on 2025-11-06. The award shows an acquisition price of $0.00 (a granted equity award rather than an open-market purchase) and is reported as a derivative grant on an amended Form 4.
• The grant-date fair value was adjusted under the company’s Non-Employee Director Compensation Policy so that the director’s total 2025 annual equity compensation does not exceed $1,000,000 (per ASC 718 valuation).

Key Details

• Transaction date: November 6, 2025. Filing date (amended): April 22, 2026 — this is a late/amended filing.
• Award: 33,751 shares; acquisition price reported as $0.00 (derivative/award).
• Vesting: Equal monthly installments over one year from the grant date, subject to continued service (per footnote).
• Shares owned after transaction: Not provided in the supplied excerpt.
• Footnotes: F1 limits total 2025 non-employee director equity comp to $1,000,000 (ASC 718 fair value). F2 confirms one-year monthly vesting.
• Transaction type: Award/Grant (code A); not an open-market buy or sale.

Context

• This is an equity compensation grant to a director — common for non-employee directors and typically intended to align interests with shareholders. Because vesting is monthly over a year, the shares are not all immediately transferable.
• The amended and late filing means the market and investors did not receive this Form 4 until months after the grant date; amended filings can correct or add information but do not, by themselves, indicate insider intent.