Lorrain Daniel S. 4

What Happened Daniel S. Lorrain, Chief Scientific Officer of Contineum Therapeutics (CTNM), exercised stock options and immediately sold the resulting shares. On 2026-07-08 he exercised 1,015 options at $1.01 apiece (reported cost $1,025) and sold those 1,015 shares on the open market at $16.00 for $16,240. On 2026-07-09 he exercised 25 options at $1.01 (reported $25) and sold those 25 shares at $16.00 for $400. Total exercised = 1,040 shares for about $1,050 total cost; total sale proceeds ≈ $16,640.

Key Details

• Transaction dates and prices:
  • 2026-07-08: Exercise M — 1,015 shares @ $1.01 (acquired, $1,025 reported); Sale S — 1,015 shares @ $16.00 (disposed, $16,240).
  • 2026-07-09: Exercise M — 25 shares @ $1.01 (acquired, $25 reported); Sale S — 25 shares @ $16.00 (disposed, $400).
• Shares owned after the transactions: Not stated in the provided filing.
• Footnotes:
  • F1: Transactions were effected pursuant to a 10b5-1 trading plan adopted Sept 23, 2025.
  • F2: The stock options were fully vested and exercisable.
• Filing timeliness: Reported on 2026-07-10 for transactions on 7/8–7/9; no late filing flag indicated.

Context

• This was an option exercise followed by immediate open-market sales (a common cashless exercise/execution pattern). The sales were made under a pre-established 10b5-1 plan, which typically schedules trades in advance and is often used to avoid concerns about trading on material nonpublic information. The filing shows both the option conversion (derivative disposition entries at $0) and the resulting share sales.