Zedelmayer Christine 4

What Happened

• Christine Zedelmayer, Senior Vice President and COO of Equillium (EQ), exercised stock options and sold the resulting shares on February 19, 2026. She exercised 109,375 options at $0.79 (cost $85,859) and 76,562 options at $0.73 (cost $55,890), then sold those same shares in the open market—109,375 at $1.78 (proceeds $194,841) and 76,562 at $1.74 (proceeds $133,264). Total exercised shares = 185,937; total option exercise cost = $141,749; total sale proceeds ≈ $328,105. The filing also shows administrative derivative entries recorded at $0.00 related to the conversions.

Key Details

• Transaction date: February 19, 2026; Form filed Feb 23, 2026 (timely under Form 4 rules).
• Exercises: 109,375 shares @ $0.79 ($85,859) and 76,562 shares @ $0.73 ($55,890).
• Sales: 109,375 shares @ $1.78 ($194,841) and 76,562 shares @ $1.74 ($133,264). Total proceeds ≈ $328,105.
• Total shares involved (exercised and sold): 185,937.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes: sale was executed under a 10b5-1 trading plan adopted Aug 27, 2025 (F1); options vesting schedule noted—25% on first anniversary then monthly over 36 months (F2).
• Derivative entries at $0.00 reflect option/derivative conversions or administrative adjustments, as reported.

Context

• This was an exercise-and-sell (cashless-style) transaction completed under a pre-established 10b5-1 plan, meaning the sales were planned in advance rather than ad-hoc market timing. Such transactions are common for insiders realizing gains from vested options and do not, by themselves, indicate a change in company outlook.