4D Molecular Therapeutics (FDMT) CLO Scott Bizily Sells Shares After Exercising Options

What Happened Scott Bizily, Chief Legal Officer of 4D Molecular Therapeutics (FDMT), exercised stock options and immediately sold the resulting shares. On Aug 13 and Aug 17, 2026 he exercised 1,635 options each day at $4.14 per share (acquisition cost $6,769 each day; total cost $13,538 for 3,270 shares) and sold those 1,635 shares each day at $12.00 and $12.20 (proceeds $19,620 and $19,947; total proceeds $39,567). The transactions are reported as option exercises (code M) followed by open-market sales (code S). Net of the exercise cost, the transactions generated roughly $26,029 before fees and taxes. These trades were made pursuant to a 10b5-1 plan.

Key Details

• Dates and prices:
  • 2026-08-13: Exercised 1,635 shares @ $4.14 (acquired, $6,769); sold 1,635 shares @ $12.00 (disposed, $19,620).
  • 2026-08-17: Exercised 1,635 shares @ $4.14 (acquired, $6,769); sold 1,635 shares @ $12.20 (disposed, $19,947).
  • Filing indicates derivative-disposition line items at $0.00 related to the option conversions.
• Total: 3,270 shares exercised (total cost $13,538) and 3,270 shares sold (total proceeds $39,567); gross difference ≈ $26,029.
• Footnotes: F1 — trades executed under a 10b5-1 trading plan adopted Jan 13, 2026. F2 — the underlying option vests 1/48 monthly from Mar 6, 2025 (fully vested on the fourth anniversary).
• Shares owned after the transactions: not specified in the provided excerpt of the filing; see the full Form 4 for post-transaction holdings.
• Timeliness: Report filed Aug 17, 2026 for transactions beginning Aug 13, 2026; filing appears to be within required Section 16 timeframes.

Context

• These transactions are option exercises followed by sales (effectively a cashless exercise/sale), which is a common executive liquidity action; such sales do not necessarily indicate a change in company outlook.
• Codes: M = exercise/conversion of a derivative (option), S = sale (open market/private sale).
• Because the trades were made under a pre-established 10b5-1 plan, they were executed according to a pre-set schedule rather than as ad-hoc market timing.