Lorrain Daniel S. 4

What Happened
Daniel S. Lorrain, Chief Scientific Officer of Contineum Therapeutics (CTNM), exercised stock options and sold common shares in transactions reported on a Form 4. He exercised 33,009 shares (28,826 on 2026-06-30 and 4,183 on 2026-07-01) at $1.01 per share (exercise cost ≈ $33,339). He sold a total of 37,179 shares in open-market transactions (28,826 on 2026-06-30 at a weighted avg $16.04; 5,852 on 2026-07-01 at $15.67; and 2,501 on 2026-07-01 at $16.24), producing gross sale proceeds of approximately $594,578. The exercised shares were disposed in the market (i.e., shares were sold after exercise).

Key Details

• Transaction dates: 2026-06-30 and 2026-07-01; Form 4 filed 2026-07-02 (within the normal reporting window).
• Exercise details: 33,009 shares exercised at $1.01 each (total cost ≈ $33,339). Footnote F6: options are fully vested and exercisable.
• Sales details and price ranges:
  • 28,826 shares sold 6/30 — weighted avg $16.04 (range $16.00–$16.35) — proceeds $462,288 (F2).
  • 5,852 shares sold 7/01 — weighted avg $15.67 (range $15.15–$16.14) — proceeds $91,682 (F3).
  • 2,501 shares sold 7/01 — weighted avg $16.24 (range $16.16–$16.40) — proceeds $40,608 (F4).
• Gross sale proceeds ≈ $594,578; exercise cost ≈ $33,339 (net before fees/taxes ≈ $561,239).
• Plan/authorization: Transactions effected pursuant to a 10b5-1 trading plan adopted 9/23/2025 (F1).
• Other notes: Filing footnotes mention a spouse ESPP purchase (F5). The filing shows derivative conversion entries at $0.00 reflecting the option exercise/conversion into shares.

Context

• This is effectively a cashless exercise pattern: options were exercised and resulting shares were sold in the open market shortly thereafter. That is common for executives exercising vested options to cover exercise costs and taxes; it is a sale rather than a new ownership stake.
• No indication in the provided excerpt of late filing. The Form 4 covering 6/30 transactions was filed on 7/02/2026, which is within the typical two-business-day Form 4 reporting window.
• Shares owned after the transactions are not specified in the excerpt provided.