Yen Kristen 4

What Happened

• Kristen Yen, SVP Global Clinical Operations and Patient Advocacy at Soleno Therapeutics (SLNO), had a series of dispositions to the issuer on May 18, 2026 as part of the company’s merger with Neocrine. A total of 179,049 share-equivalents (common shares, previously reported RSUs, and option-related shares) were cancelled and converted into cash at the merger consideration of $53.00 per share, producing aggregate cash consideration of approximately $9,489,597.
• These were not open-market sales but merger-related cash-outs: certain vested and unvested RSUs were cancelled and converted to the $53.00 cash per share (F1), each outstanding common share was cancelled and converted to $53.00 (F2), and an option was cancelled in exchange for a cash payment equal to the spread between the $53.00 Merger Consideration and the option exercise price multiplied by the number of option shares (F3).

Key Details

• Transaction date: May 18, 2026; Price per share (Merger Consideration): $53.00.
• Total share-equivalents disposed/cancelled: 179,049; Total cash received: ~$9,489,597.
• Insider role: SVP Global Clinical Operations and Patient Advocacy (Kristen Yen).
• Footnotes: F1 = RSUs converted to cash at $53.00; F2 = common shares cancelled for $53.00; F3 = option cancelled for cash equal to (merger price − exercise price) × shares.
• Filing timeliness: Report filed with period date 2026-05-18 (same day as the transaction) — filing appears timely in this report excerpt.
• Shares owned after the transaction: not specified in the provided filing excerpt.

Context

• These transactions are merger cash settlements (dispositions to the issuer), not voluntary market sales. For RSUs and option awards, the cancellation-for-cash is a routine merger mechanics outcome and does not on its own signal insider sentiment about future share performance.
• For option-related amounts, the payment reflected the in-the-money spread at closing rather than a market sale of exercised shares.