Disc Medicine (IRON) Director Kevin Bitterman Exercises Options, Sells Shares

What Happened
Kevin Bitterman, a director of Disc Medicine (IRON), exercised a total of 27,136 option-derived shares on Sept 11, 2026 and immediately sold those shares in the open market. He exercised: 7,136 shares at $45.69 (cost $326,044), 10,000 shares at $38.85 (cost $388,500), and 10,000 shares at $50.86 (cost $508,600) — total exercise cost $1,223,144. The 27,136 shares were sold the same day at a weighted-average price of $70.11 for aggregate proceeds of $1,902,505 (range $70.10–$70.37). Net proceeds before fees/taxes were roughly $679,361. These option exercises were fully vested.

Key Details

• Transaction date: 2026-09-11; Form 4 filed 2026-09-15 (filing appears late).
• Exercise details (M = option exercise): 7,136 @ $45.69 ($326,044); 10,000 @ $38.85 ($388,500); 10,000 @ $50.86 ($508,600).
• Sale (S = open-market sale): 27,136 shares sold at weighted avg $70.11 for $1,902,505; sale prices ranged $70.10–$70.37 (reporting person can provide per-price breakdown on request).
• Ownership after transaction: not specified in the provided filing excerpt.
• Footnotes: the filing indicates some shares are held by Atlas Venture funds (Opportunity I, Opportunity II, Atlas XII) and Bitterman disclaims beneficial ownership of those fund-held shares except for any pecuniary interest. F5 notes the options were fully vested.
• Transaction timeliness: filing date is 4 days after the transaction date (may be considered late under Form 4 timing rules).

Context
This was an exercise of vested options followed by an immediate open‑market sale (a cashless exercise and sell). Such transactions convert option holdings into cash and are often routine; they do not by themselves indicate the insider’s long‑term view of the company.