RUBIN PAUL D 4

What Happened

• Paul D. Rubin, Chief Medical Officer of BioAge Labs (BIOA), exercised a total of 7,433 option-derived shares on 2026-03-02 and immediately sold those shares in the open market.
• He exercised 5,433 shares at $4.11 each (cost $22,330) and 2,000 shares at $6.57 each (cost $13,140), for total exercise cost of $35,470. He then sold 7,433 shares at $20.30 each for gross proceeds of $150,890 (approximately $115,420 more than the exercise cost, pre-tax and fees).
• This pattern (exercise followed by immediate sale) is effectively a cashless exercise: options were converted to shares and the shares were sold the same day.

Key Details

• Transaction date: March 2, 2026 (reported on Form 4 filed March 3, 2026 — timely filing).
• Exercise details: 5,433 shares @ $4.11 and 2,000 shares @ $6.57 (acquired); corresponding derivative entries show conversion/disposition at $0.00 (these reflect the option instruments being converted to shares).
• Sale: 7,433 shares sold in an open market transaction @ $20.30 for $150,890.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: Transaction executed under a Rule 10b5-1 trading plan adopted Nov 5, 2024 (F1). One option award was fully vested May 11, 2024 (F2); other option vests monthly as 1/48th of award, starting April 1, 2022 (F3).

Context

• For retail investors: exercising and immediately selling option-derived shares is common for liquidity, tax or diversification reasons and does not by itself signal a change in view of the company’s prospects.
• This was an officer-level transaction reported under a 10b5-1 plan, which typically specifies pre-set trading parameters.