Panzara Michael A. 4

What Happened
Michael A. Panzara, a director of LeonaBio, was granted a derivative award on June 23, 2026 covering 28,000 shares. The Form 4 reports the grant as an acquisition (code A) with a reported price of $0.00 per share (this reflects an equity award/option, not an open-market purchase or cash sale).

Key Details

• Transaction date: 2026-06-23; Form 4 filed: 2026-06-24 (timely filing).
• Award: 28,000 shares (derivative/option); reported price $0.00 per share.
• Vesting: The option vests on the earlier of (i) June 23, 2027, or (ii) the day before the issuer’s next annual meeting of stockholders after June 22, 2026 (see footnote F1).
• Grant type: Issued pursuant to the Issuer’s Outside Director Compensation Policy.
• Shares owned after transaction: Not specified in the filing.

Context
This was an equity award (option/derivative) granted as director compensation, not a purchase or sale. The option has a time-based vesting condition; it was not exercised or sold at the time of the filing. Such grants are common for outside directors and are routine compensation disclosures rather than direct market sentiment signals.