Hoerter Steven L. 4

What Happened
Steven L. Hoerter, a director of MBX Biosciences, was granted 12,500 derivative shares on 2026-06-04. The shares were issued at $0.00 (no cash paid). This is a compensation award (not an open-market purchase or sale) typically given to non-employee directors and should be viewed as a routine equity grant rather than a direct market buy signal.

Key Details

• Transaction date: 2026-06-04; Form 4 filed: 2026-06-05 (timely filing).
• Instrument: Derivative award (grant/award), 12,500 shares, acquisition price $0.00.
• Vesting: Grant vests in full on the earlier of the one-year anniversary of the grant or the date of the next annual meeting, subject to continued service (footnote F2).
• Shares owned after transaction: Not specified in the provided filing; footnote F1 notes certain shares are held by the Steven L Hoerter Revocable Trust (he is trustee and disclaims beneficial ownership except to the extent of any pecuniary interest).
• Filing status: No late filing indicated.

Context
This is a standard equity compensation award to a non-employee director (designed to align interests with shareholders). Because it is an award rather than a purchase or sale, it does not necessarily signal the insider’s personal buying/selling preference. The vesting condition ties the award to continued board service.