Azoulay Salomon 4

What Happened

• Azoulay Salomon, Chief Medical Officer of MBX Biosciences (MBX), exercised stock option/derivative positions and sold the resulting shares on May 8, 2026. The filing shows exercises of 55,000 shares at $10.46 ($575,300) and 15,003 shares at $16.00 ($240,048), plus additional derivative conversions reported at $0.00. On the same day she sold 55,000 shares at a weighted average price of $38.38 (proceeds $2,110,900) and 15,003 shares at $38.30 (proceeds $574,615). Total reported sale proceeds ≈ $2,685,515.
• The sales were executed pursuant to an approved Rule 10b5‑1 trading plan adopted January 27, 2026 (footnote F1).

Key Details

• Transaction date: May 8, 2026; Form filed May 11, 2026 (timely).
• Exercises/Acquisitions: 55,000 @ $10.46 = $575,300; 15,003 @ $16.00 = $240,048; plus 70,003 shares reported as acquired at $0.00 (derivative conversions).
• Sales/Dispositions: 55,000 @ $38.38 (weighted avg) = $2,110,900; 15,003 @ $38.30 (weighted avg) = $574,615. Combined sold = 70,003 shares, total ≈ $2.69M.
• Price range: the weighted-average sale prices reflect multiple trades at prices from $35.00 to $41.26 (footnotes F2/F3).
• Vesting/option notes: one option tranche had 25% vesting on June 24, 2025; another had 25% vesting on Sept 12, 2025, with the remaining 75% vesting in 36 monthly installments thereafter (F4, F5).
• Shares owned after the transactions are not specified in the provided excerpt of the filing.

Context

• This was an exercise-and-sell (cashless-style) sequence: options/derivatives were exercised and shares were sold the same day under a pre‑approved 10b5‑1 plan, which is a preset trading arrangement that can limit insider timing discretion.
• Such routine insider sales often reflect option exercise and liquidity needs rather than a view on company fundamentals; the filing is factual and does not state motivation.