Garcia Marino 4

What Happened

• Garcia Marino, CEO and President (also a director) of Dianthus Therapeutics (DNTH), exercised stock options on 2026-03-16 to acquire a total of 65,292 common shares. He paid $6.70 for 59,700 shares ($399,990) and $17.88 for 5,592 shares ($99,985), for a combined cash outlay of about $499,975. The filing also shows the derivative option interests were converted/terminated (reported as disposed at $0), which reflects the exercise/conversion — not an open‑market sale of the acquired shares.

Key Details

• Transaction date: 2026-03-16 (Form 4 filed 2026-03-17).
• Transaction code: M = Exercise or conversion of derivative (stock option).
• Shares acquired: 59,700 @ $6.70 (cost $399,990) and 5,592 @ $17.88 (cost $99,985); total 65,292 shares for ~$499,975.
• "Disposed" lines at $0 represent termination/conversion of the derivative instrument, not a cash sale of shares.
• Shares owned after the transaction: not disclosed in the provided filing.
• Footnotes: F1 — one option award vested 25% on Nov 1, 2022, then monthly over the following three years; F2 — the other award vests in equal monthly installments over four years after Jan 1, 2024, subject to continued service.
• Filing timeliness: filed the next day; no late filing indicated.

Context

• This was an option exercise (insider paid strike prices to obtain shares). Because no sale transaction code (S) is reported, there’s no evidence the shares were immediately sold (i.e., this is not a cashless sale reported here).
• Exercises can be routine (vesting-driven) or indicate personal investment; the filing’s footnotes show standard vesting schedules. Do not infer motivation from this single filing.