Levy Adam R. 4

What Happened Adam R. Levy, CEO of NEXGEL, sold a total of 11,000 shares in two open-market transactions in June 2026. On 2026-06-18 he sold 6,000 shares (reported proceeds $3,553) and on 2026-06-23 he sold 5,000 shares (reported proceeds $2,967), for combined proceeds of roughly $6,520. These were sales (not purchases or option exercises) and are typically viewed as routine insider selling rather than a direct bullish signal.

Key Details

• Transaction dates and reported prices:
  • 2026-06-18: sale of 6,000 shares; reporting shows $0.59 per share (footnote F1 notes actual sale prices ranged $0.5851–$0.5956).
  • 2026-06-23: sale of 5,000 shares; reporting shows $0.59 per share (footnote F2 notes actual sale prices ranged $0.5811–$0.6014).
• Combined reported proceeds: approximately $6,520.
• Shares owned after the transactions: Not specified in the provided filing excerpt.
• Footnotes: F1 and F2 state the per-share prices shown are weighted averages across multiple open-market trades and the reporting person will provide a breakdown of individual prices/quantities if requested by the SEC, issuer, or a security holder.
• Timeliness: The Form 4 was filed 2026-06-23. The 2026-06-18 sale appears to have been reported one business day late (Form 4s are generally due within two business days after the transaction).

Context

• Sales by executives can be routine (diversification, personal needs, pre-set plans) and do not by themselves indicate management’s view of future company performance. The total dollar amount here (~$6.5k) is relatively small, which reduces its weight as a market signal.
• There is no indication in the provided excerpt of a 10b5-1 plan, option exercise, gift, or tax-withholding event associated with these transactions.