Dalvey David 4

What Happened
David Dalvey, listed as a director and the general partner of Brightstone Venture Capital Fund, sold 20,000 shares of Celcuity Inc. The sale generated total proceeds of $2,400,538 at a reported weighted average price of $120.03 per share. This transaction was a sale (S), not a purchase — commonly a liquidity event rather than a bullish signal.

Key Details

• Transaction date: January 27, 2026; Form 4 filed January 29, 2026 (appears timely under the two‑business‑day rule).
• Price: weighted average $120.03; shares were sold in multiple trades at prices ranging from $120.00 to $120.315.
• Quantity: 20,000 shares; proceeds $2,400,538.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnotes: (F1) Sales effected pursuant to a 10b5‑1 trading plan adopted by Brightstone on Aug 19, 2025; (F2) weighted average reflects multiple transaction prices and detailed breakdown available on request; (F3) reporting person is the General Partner of Brightstone.
• Type of sale: executed under a 10b5‑1 plan by Brightstone (an institutional vehicle), not necessarily a discretionary personal trade by the director.

Context
A 10b5‑1 trading plan indicates pre‑scheduled sales and is commonly used for routine disposition of shares. Sales by institutional holders or under such plans are generally viewed as routine liquidity management rather than a direct signal about the company’s outlook.