Muller Lorenz 4

What Happened
Muller Lorenz, Chief Commercial Officer of Milestone Pharmaceuticals (MIST), received two equity awards on February 2, 2026: 204,000 derivative awards (likely stock options) and 136,000 restricted stock units (RSUs). Both grants show an acquisition price of $0 and a reported total value of $0 on the Form 4 because these are compensation awards rather than open‑market purchases.

Key Details

• Transaction date: 2026-02-02; Form 4 filed 2026-02-04 (appears timely).
• Grants: 204,000 (derivative award, listed at $0) and 136,000 RSUs (each RSU = 1 contingent common share).
• Shares owned after the transaction: Not specified in the filing.
• Vesting for the 204,000 derivative award: 25% vests on Feb 2, 2027, then 1/36th of the remainder vests monthly thereafter (footnote F1).
• Vesting for the 136,000 RSUs: 25% vests each Feb 2 of 2027, 2028, 2029 and 2030 (footnote F3).
• Transaction code: A = Award/Grant. No 10b5-1 plan, tax‑withholding, or cashless sale noted.

Context
These awards are company compensation (not open‑market purchases or sales). RSUs convert to actual shares only as they vest; the derivative award follows a staggered vesting schedule. Because no cash changed hands at grant, the filing reports $0 value on the transaction line — intrinsic value (if any) depends on Milestone’s future stock price and whether the derivative is an option-type award.