Disc Medicine (IRON) CEO John Quisel Exercises Options and Sells Shares

What Happened
John D. Quisel, CEO of Disc Medicine (IRON), exercised 33,000 stock options on August 17, 2026, at $13.50 per share for a cash cost of $445,500, and then sold those 33,000 shares in open-market transactions the same day. The three sales generated total proceeds of approximately $2,611,982 (sales at weighted average prices of $78.11, $79.20 and $79.84). The Form 4 shows a related derivative/conversion line for 33,000 shares at $0.00, reflecting the exercise/conversion reporting for the options.

Key Details

• Transaction date: August 17, 2026; Form 4 filed August 18, 2026 (timely).
• Exercise: 33,000 shares acquired at $13.50 each — total cost $445,500 (Code M).
• Sales: 33,000 shares sold in three tranches (Code S):
  • 8,400 shares at weighted avg $78.11 — proceeds $656,091 (prices ranged $77.50–$78.49).
  • 12,712 shares at weighted avg $79.20 — proceeds $1,006,729 (prices ranged $78.53–$79.52).
  • 11,888 shares at weighted avg $79.84 — proceeds $949,162 (prices ranged $79.53–$80.02).
• Total sale proceeds ≈ $2,611,982; net proceeds before taxes/fees ≈ $2.17M (sale proceeds minus exercise cost).
• Footnotes: trades were executed under a Rule 10b5-1 trading plan adopted March 12, 2026 (F1). Vesting note: option shares vest monthly over 48 months after Dec 29, 2022 (F5). Weighted-average price ranges provided in footnotes F2–F4.
• Shares owned after the transactions: not provided in the excerpt — see the full Form 4 for post-transaction holdings.

Context
This was an option exercise followed by same-day open-market sales of the acquired shares — effectively a cashless exercise combined with sales under a pre-established 10b5-1 plan. Such transactions are common for executives converting vested option holdings to cash and do not, by themselves, indicate the insider’s private view of the company’s prospects.