Pauls Matthew 4

What Happened Pauls Matthew, a director of Soleno Therapeutics, reported two dispositions to the issuer on May 18, 2026 totaling 19,554 shares/RSUs. Per the merger agreement, each outstanding share and vested/unvested RSU was cancelled and converted into the right to receive $53.00 in cash. The filing shows the per-share price as N/A because the securities were converted in connection with the merger; the footnotes state the Merger Consideration was $53.00/share. Breakdown: 10,491 shares → $556,023; 9,063 RSU/derivative units → $480,339; combined ≈ $1,036,362 cash.

Key Details

• Transaction date: 2026-05-18 (same date as filing)
• Consideration: $53.00 per share (Merger Consideration per footnotes)
• Shares/units converted: 10,491 (common) and 9,063 (derivative/RSU) — total 19,554
• Cash received (approx.): $556,023 + $480,339 = $1,036,362
• Shares owned after transaction: filing indicates these shares/RSUs were cancelled and converted to cash as part of the merger (no remaining interest in those cancelled securities reported)
• Footnotes: F1–F3 explain that outstanding RSUs and common shares were cancelled for cash and that options (if any) were cashed out per the merger formula
• Timeliness: Reported on the same day as the transaction (filed 2026-05-18), so appears timely

Context This was not an open-market sale but a merger-related cash-out: securities were cancelled and converted into cash under the Agreement and Plan of Merger (Soleno became a wholly owned subsidiary of Parent). For retail investors, note this represents merger consideration paid to holders, not a directional insider trade signaling buy/sell sentiment.