Kroeger Christopher A. 4

What Happened
Christopher A. Kroeger, CEO of MapLight Therapeutics (MPLT), reported multiple open-market sales totaling 49,744 shares for aggregate proceeds of approximately $1,412,235. The reported trades:

• 2026-05-04: 9,136 sh @ $27.50 = $251,240; 5,427 sh @ $28.37 = $153,964; 311 sh @ $29.56 = $9,193; 697 sh @ $30.08 = $20,966.
• 2026-05-05: 9,544 sh @ $28.12 = $268,377; 928 sh @ $29.00 = $26,912.
• 2026-05-06: 8,098 sh @ $28.04 = $227,068; 15,603 sh @ $29.13 = $454,515.
  All transactions are recorded as sales (code “S”), which are typically routine dispositions rather than new purchases.

Key Details

• Transaction dates: May 4–6, 2026; Form 4 filed May 6, 2026. Filing appears timely (Form 4s are due within two business days).
• Total shares sold: 49,744; total proceeds: ~$1.41 million.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes: some sales were made pursuant to a Rule 10b5-1 trading plan adopted Dec 29, 2025 (F1); certain shares are held in the C&M Kroeger Nominee Trust (he is co‑trustee) (F10). Several lines report weighted-average prices and disclose that the shares were sold in multiple executions within stated price ranges (F2–F9); the filer will provide per‑price breakouts on request.

Context
These are outright sales (not option exercises or gifts). Sales executed under a 10b5‑1 plan are pre‑arranged and often used to avoid timing questions; they do not, by themselves, imply new negative or positive information about the company. For retail investors, purchases by insiders can be a stronger signal than routine sales; this filing documents liquidity actions by the CEO rather than new accumulation.