Zedelmayer Christine 4/A

What Happened Christine Zedelmayer, Senior Vice President and COO of Equillium (EQ), exercised stock-option derivatives and sold the resulting shares on Feb 19, 2026. She exercised a total of 185,937 shares (109,375 at $0.79 and 76,562 at $0.73) for a total exercise cost of $141,749, and sold those same 185,937 shares in open-market transactions (109,375 at $1.78 and 76,562 at $1.74) for total proceeds of $328,105. The sales were reported as pursuant to a Rule 10b5-1 trading plan.

Key Details

• Transaction date: February 19, 2026
• Option exercises (code M): 109,375 shares @ $0.79 = $85,859; 76,562 shares @ $0.73 = $55,890; total exercised = 185,937 shares for $141,749
• Open-market sales (code S): 109,375 shares @ $1.78 = $194,841; 76,562 shares @ $1.74 = $133,264; total proceeds = $328,105
• Footnote: The sales were effected under a Rule 10b5-1 trading plan adopted Aug 27, 2025
• Shares owned after the transactions: not specified in this amended filing; the amendment corrects a prior Form 4 that overstated beneficial ownership by 100,000 shares due to a scrivener's error
• Filing: Amended Form 4 filed Mar 11, 2026 reporting the Feb 19, 2026 transactions

Context Because the options were exercised and the same number of shares were sold the same day, this effectively represents a cashless exercise (options converted to stock and shares sold). Sales executed under a 10b5-1 plan are pre-arranged and generally indicate routine, pre-scheduled dispositions rather than ad hoc market timing. The amendment corrects a previous overreporting of beneficial ownership; the filing does not provide any additional explanation of current post-transaction holdings.