4D Molecular (FDMT) CLO Scott Bizily Exercises Options, Sells Shares

What Happened

• Scott Bizily, Chief Legal Officer of 4D Molecular Therapeutics (FDMT), exercised 584 option shares and sold those 584 shares on Sept 1, 2026.
• Exercise: 584 shares at $6.49 per share for total exercise cost $3,790. Sale: 584 shares at $14.00 per share for gross proceeds $8,176. The same-day exercise and sale effectively resulted in immediate disposition of the shares.
• The filing also reports a derivative disposition of 584 shares at $0.00; the Form 4 does not provide additional detail about that line.

Key Details

• Transaction date: 2026-09-01. Filing date: 2026-09-03 (timely filed).
• Prices and amounts: exercised 584 @ $6.49 (cost $3,790); sold 584 @ $14.00 (proceeds $8,176). Net difference between proceeds and exercise cost ≈ $4,386 before fees/taxes.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 — transactions made pursuant to a 10b5‑1 trading plan adopted Jan 13, 2026; F2 — the option vests monthly from June 16, 2022 and was scheduled to be fully vested on the fourth anniversary (June 16, 2026).
• Transaction codes: M = exercise/conversion of derivative (option); S = sale.

Context

• Because the exercise and sale occurred the same day, this reads as an immediate sale of exercised shares (commonly structured as a cashless or same‑day sale), but the filing provides no explanation of net settlement or tax withholding mechanics.
• The trade was executed under a pre‑existing 10b5‑1 plan, which typically schedules trades in advance and can indicate the sale was preplanned rather than a discretionary decision.