Apnimed (APMD) CFO Michael B. Kelly Receives 333,580 Derivative Shares

What Happened

• Michael B. Kelly, Chief Financial Officer of Apnimed, was involved in a series of derivative transactions reported on a Form 4 covering the period 2026-07-30 and filed 2026-08-03. The filing shows a disposition to the issuer of 333,580 derivative shares and an immediate grant/acquisition of 333,580 derivative shares (all at $0.00), and later entries showing a 31,434-share grant and corresponding disposition/regrant of 31,434 shares (also $0.00). The zero price indicates these were awards/reclassifications of derivative securities (not open-market purchases or cash sales).

Key Details

• Transaction dates and types: primary activity reported for period 2026-07-30 and filed 2026-08-03; entries include Disposition to Issuer (D) and Grant/Award (A). Some entries in the filing show dates in 2036 for certain grant/disposition lines (as reported).
• Prices and values: all reported at $0.00 (no cash exchanged in these entries).
• Vesting: Footnote F2 — 25% of the shares subject to the option vest after 12 months of continuous service from June 22, 2026; the remainder vests in substantially equal monthly installments over the following 36 months, subject to continued service.
• Reclassification: Footnote F1 — a reclassification occurred (each Class A share reclassified into one share of Common Stock) under Rule 16b-7 and Rule 16b-3.
• Shares owned after transaction: not specified in the provided data.
• Filing timeliness: Form filed 2026-08-03 covering a 2026-07-30 transaction — appears to be filed more than 2 business days after the transaction and could be considered late (check the official filing for a tardiness code).

Context

• These entries are derivative grants/reclassifications (awards/options), not open-market buys or sales; zero-dollar entries commonly reflect option grants, stock awards, or internal reclassifications/cancellations and reissuances rather than cash transactions.
• The vesting schedule (F2) means the awards are subject to service-based vesting over time; such grants do not by themselves indicate immediate share purchases or sales.