Dalvey David 4

What Happened
David Dalvey, a Celcuity (CELC) director and general partner of Brightstone Venture Capital Fund, reported a sale of 25,000 shares on 2026-05-04 at $140.68 per share, for a total of $3,517,000. The Form 4 filed on 2026-05-06 shows the sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Brightstone on August 19, 2025.

Key Details

• Transaction date and price: 2026-05-04 — 25,000 shares at $140.68 each (total $3,517,000)
• Transaction type: Sale (code S) — open market/private sale reported
• Shares owned after transaction: Not specified in the provided filing (see the Form 4 for holdings)
• Footnotes: Sale executed under a Brightstone 10b5-1 trading plan (adopted Aug 19, 2025); reporting person is Brightstone's general partner
• Filing timeliness: Form 4 filed 2026-05-06 for the 2026-05-04 transaction (appears timely)

Context
Because the sale was made under a pre-established Rule 10b5-1 plan and was executed by an affiliated venture fund (Brightstone) for which Dalvey is GP, this looks like a preplanned institutional sale rather than an ad‑hoc insider trade. Sales are common and, unlike purchases, generally provide less direct insight into management’s bullishness on the company.