Patel Nilay Dahyabhai 4

What Happened
Patel Nilay Dahyabhai, Cingulate's EVP, Chief Legal Officer and Chief Compliance Officer, was granted 5,475 shares on 2026-03-09 under the company's equity plan (reported on Form 4 filed 2026-03-11). The grant shows an acquisition of 5,475 shares at $0.00 (award). Simultaneously, 2,086 shares were withheld/disposed at $0.00 to satisfy tax withholding obligations related to the grant. Because the shares were awarded (not bought or sold in the open market), the $0.00 price reflects a compensation grant, not a market transaction.

Key Details

• Transaction date: 2026-03-09; filing date: 2026-03-11 (timely within Form 4 reporting window).
• Reported entries: A (Award/Grant) — 5,475 shares acquired @ $0.00; F (Tax withholding) — 2,086 shares disposed @ $0.00.
• Shares owned following the transaction: not specified in this filing.
• Footnotes: F1 — grant made under the Issuer's 2021 Omnibus Equity Incentive Plan as part of a portion of the Reporting Person's 2025 bonus; F2 — shares otherwise issuable were withheld to satisfy tax obligations on that grant.
• Filing appears timely (transaction on 3/9, Form 4 filed on 3/11).

Context
This was an equity compensation award (bonus shares) rather than a purchase or open-market sale. Withholding shares to cover taxes (code F) is a routine administrative step and should not be read as a market-sale signal. The $0.00 price indicates an issuance under a compensation plan, not a cash transaction.