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

What Happened

• Scott Bizily, Chief Legal Officer of 4D Molecular Therapeutics, exercised stock options to acquire 1,635 shares at a $4.14 strike ($6,769 total) on 2026-09-16 and sold those 1,635 shares the same day in an open-market sale at $13.65 per share for gross proceeds of $22,318. The net difference between proceeds and exercise cost is about $15,549 (before fees/taxes). The option instrument was reported as converted/terminated in the filing.

Key Details

• Transaction dates: 2026-09-16 (reported on Form 4 filed 2026-09-22)
• Exercise: 1,635 shares @ $4.14 = $6,769 (code M — option exercise)
• Sale: 1,635 shares @ $13.65 = $22,318 (code S — open market sale)
• Net (gross sale minus exercise cost): ≈ $15,549 (does not account for commissions, taxes)
• Footnotes: Sale executed pursuant to a 10b5-1 trading plan adopted Jan 13, 2026 (F1). Vesting schedule for the option: 1/48th monthly from Mar 6, 2025, fully vested on the fourth anniversary if service continues (F2).
• Shares owned after transaction: Not disclosed in the provided excerpt.
• Timeliness: Form 4 was filed on 2026-09-22 for a 2026-09-16 trade — this appears to be a late filing (Form 4 is generally due within 2 business days).

Context

• This was an exercise of options followed by an immediate open-market sale (commonly a cash-out of vested options). The sale was made under a pre-established 10b5-1 plan, which means it was executed according to a previously adopted trading plan rather than being an ad-hoc sale. As always, purchases (buys) are often considered more informative than routine option exercises followed by sales; this transaction converts vested equity into cash.