DEMSKI MARTHA J 4

What Happened
Martha J. Demski, a director of Equillium, Inc. (EQ), was granted a 70,000-share derivative award on May 28, 2026. The award is reported at $0.00 per share (no cash paid on grant in the filing). The grant is not an immediate sale or market purchase — it is a vested-equity award subject to a vesting schedule.

Key Details

• Transaction type: Grant / award (derivative) of 70,000 shares reported as $0.00 per share.
• Transaction date: 2026-05-28; Form 4 filed 2026-05-29 (reporting appears timely).
• Vesting: Vests in 12 equal monthly installments beginning May 28, 2026; will be fully vested on the date of the issuer’s next annual meeting of stockholders (per footnote).
• Shares owned after transaction: Not specified in the provided filing excerpt—see the full Form 4 for total holdings.
• No 10b5-1 plan, tax-withholding, cashless exercise, or late-filing flags noted in the provided details.

Context
This is a grants/award filing (code A) for a derivative equity instrument. Such awards typically represent future upside exposure if the shares become vested or if an option is exercised; they do not represent an immediate market purchase or sale. For full ownership impact and any subsequent exercises or sales, monitor future Form 4 filings from the insider.