Rallybio (RLYB) Director Wendy Chung Exercises Options

What Happened

• Wendy Chung, a director of Rallybio Corp (RLYB), exercised options on 2026-09-16 to acquire 3,562 shares at $2.38 per share for a total cash cost of $8,478.
• The Form 4 also reports a simultaneous disposition of 3,562 shares at $0.00 under the same transaction code (M), indicating those shares were converted/surrendered as part of the exercise/settlement process.

Key Details

• Transaction date: 2026-09-16; Filing date: 2026-09-18 (filing marked late).
• Acquired: 3,562 shares @ $2.38 = $8,478 (code M — option exercise/conversion).
• Disposed: 3,562 shares @ $0.00 (code M — derivative/settlement).
• Shares owned after the transactions: not disclosed in the provided summary; see the full Form 4 for post-transaction holdings.
• Notes: The filing shows derivative-code activity (M). The equal-sized $0.00 disposition commonly reflects shares surrendered or withheld in connection with an option exercise (e.g., to satisfy exercise price or tax withholding), but the filing itself should be consulted for exact settlement mechanics.
• Timeliness: The report was marked late (transactionTimeliness = 'L').

Context

• This was an options exercise (not an open-market purchase or sale). When exercises are paired with same-size $0 dispositions, it often represents net-share settlement or shares withheld to cover costs—these are routine administrative transactions and not direct market-sales. As always, consult the full Form 4 for legal footnotes and exact settlement details.