Watkins Tim 4

What Happened
Tim Watkins, Chief Medical Officer & Head of Development at Contineum Therapeutics (CTNM), exercised options and sold the underlying shares on June 30, 2026. He exercised 10,833 option shares at an exercise price of $4.50 (cost $48,749) and sold those 10,833 shares in the open market for a weighted average price of $16.02, generating proceeds of about $173,590. The filing also shows a related derivative conversion/disposition line for 10,833 shares at $0.00 (see filing for detail).

Key Details

• Transaction date: June 30, 2026; Form 4 filed July 1, 2026 (timely filing).
• Exercise: 10,833 shares at $4.50 each = $48,749 (transaction code M).
• Sale: 10,833 shares sold at weighted avg $16.02 = ~$173,590 (transaction code S); sale prices ranged $16.00–$16.15 per footnote.
• Additional derivative line: 10,833 shares reported as disposed at $0.00 (transaction code M); see filing for specifics.
• Plan/controls: Transactions were effected under a 10b5-1 trading plan adopted Sept 23, 2025.
• Vesting/other: Footnotes note vesting schedule for option shares (half vested Oct 28, 2025; remainder vests monthly) and 8,961 ESPP shares exempt under 16a-3/16b-3 rules.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.

Context
Because the option exercise and sale occurred the same day, this looks like a cashless-type exercise where shares were exercised and immediately sold. The sale was executed under a pre-established 10b5-1 plan, which is a trading arrangement that schedules transactions in advance and is common for executive sales. The filing is factual and does not indicate the insider’s intent.