MATA NATHAN L. 4

What Happened Nathan L. Mata, Chief Scientific Officer of Belite Bio, sold a total of 1,000 American depositary shares (ADS) in open-market transactions on May 4, 2026, for aggregate proceeds of approximately $155,635. The sales were reported in five lots:

• 32 ADS at $153.50 — $4,912
• 236 ADS at $154.24 — $36,400
• 325 ADS at $155.21 — $50,442
• 235 ADS at $156.57 — $36,793
• 172 ADS at $157.49 — $27,088

This was a sale (transaction code S), not a purchase or option exercise.

Key Details

• Transaction date: 2026-05-04 (Form 4 filed 2026-05-05 — appears timely).
• Price ranges (per footnotes): sales in these lots occurred within $153.05–$157.98 overall; each lot has its own narrower range (see footnotes F3–F7).
• Total shares sold: 1,000 ADS; total proceeds: ~$155,635.
• Shares owned after transaction: not disclosed in the information provided.
• Notable footnotes: F1 — each ADS represents one ordinary share; F2 — sales were effected under a Rule 10b5-1 trading plan adopted 12/10/2025; F3–F7 — weighted-average prices and price ranges, with undertaking to provide per-price breakdown if requested.
• Transaction type: Open-market sale under a pre-established 10b5-1 plan (S).

Context An ADS equals one ordinary share of the issuer. Sales executed under a 10b5-1 plan are pre-arranged trading programs that often indicate trades were scheduled in advance rather than based on contemporaneous insider knowledge; they are common for executives. Sales are routine insider activity and, by themselves, do not prove management sentiment about the company.