Reich Kristian 4

What Happened
Kristian Reich, Chief Scientific Officer of MoonLake Immunotherapeutics (MLTX), sold a total of 150,000 ordinary shares in three open‑market transactions between June 15 and June 17, 2026, generating approximately $2.85 million in proceeds (50,000 shares on 6/15 for $944,500; 50,000 on 6/16 for $935,000; 50,000 on 6/17 for $971,500). Each line item was reported as a sale (S).

Key Details

• Transaction dates and weighted‑average prices:
  • 2026-06-15: 50,000 shares @ $18.89 (weighted average; individual prices ranged $18.66–$19.12). (F2)
  • 2026-06-16: 50,000 shares @ $18.70 (weighted average; individual prices ranged $18.235–$19.33). (F4)
  • 2026-06-17: 50,000 shares @ $19.43 (weighted average; individual prices ranged $18.915–$19.97). (F5)
• Total proceeds: $2,851,000.
• Plan/authorization: Transactions were executed pursuant to a Rule 10b5‑1 trading plan adopted March 10, 2026. (F1)
• Beneficial ownership note: Some shares are held by JeruCON Beratungsgesellschaft mbH, of which Dr. Reich may be deemed an indirect beneficial owner for Section 16 purposes. (F3)
• Shares owned after the transactions: not specified in the provided filing excerpt.
• Filing timing: Report filed June 17, 2026 (appears timely relative to reported trades).

Context
These were open‑market sales under a pre‑arranged 10b5‑1 plan, which typically indicates planned dispositions rather than ad‑hoc trading. The filing is factual and does not state reasons for the sales; retail investors often view purchases as stronger signals of insider conviction than routine sales.