Lorrain Daniel S. 4

What Happened

• Daniel S. Lorrain, Chief Scientific Officer of Contineum Therapeutics (CTNM), exercised 400 stock options on 2026-02-11 and sold 400 common shares the same day. The exercise price reported was $1.01 per share (total cost $404). The open‑market sale was at $16.00 per share, generating $6,400 in proceeds.
• The Form 4 also records a related derivative disposition line (400 shares @ $0.00), which reflects the conversion/settlement of the options into common stock on exercise.

Key Details

• Transaction date: February 11, 2026; Form filed: February 13, 2026 (within typical 2-business‑day reporting window).
• Exercise: 400 shares at $1.01 = $404 (reported as acquisition).
• Sale: 400 shares at $16.00 = $6,400 (reported as disposition, open market).
• Derivative line: 400 shares @ $0.00 shown as a disposition of the derivative (represents option conversion on exercise).
• Footnotes: F1 — Trades were effected pursuant to a 10b5‑1 trading plan adopted Sept 23, 2025. F2 — The stock options were fully vested and exercisable.
• Shares owned after the transaction: not specified in the information provided in your prompt.

Context

• This was a same‑day exercise-and-sell: the insider exercised vested options and sold the resulting shares under a prearranged 10b5‑1 plan. Exercises are technically purchases of shares (bullish signal when held), but here the shares were immediately sold, so the net action is a monetization of vested options rather than a long-term buy.
• A 10b5‑1 plan means the sale was pre-planned and not an ad hoc trade; that reduces concerns about trading on nonpublic information.