Zedelmayer Christine 4

What Happened
Christine Zedelmayer, Senior Vice President and Chief Operating Officer of Equillium (EQ), exercised a total of 95,833 option-derived shares (multiple exercises on May 27–28, 2026) by paying aggregate exercise prices of about $73,953, and immediately sold all 95,833 shares in open-market transactions for total proceeds of approximately $267,210. The conversions/exercises are recorded as derivative (M) transactions; the subsequent share sales (S) were effected under a Rule 10b5-1 trading plan.

Key Details

• Transaction dates: May 27–28, 2026.
• Options exercised (aggregate): 95,833 shares; cash paid for exercises ≈ $73,953.
  • Breakouts shown on the filing: 9,821 @ $0.77; 7,292 @ $0.73; 48,512 @ $0.77; 14,583 @ $0.79; 15,625 @ $0.79.
• Shares sold (aggregate): 95,833 shares for proceeds ≈ $267,210.
  • Sales reported at: 9,821 @ $2.70 (≈$26,517); 55,604 @ $2.70 (≈$150,131); 200 @ $2.71 (≈$542); 30,208 @ $2.98 (≈$90,020).
  • Filing footnote notes weighted-average pricing and that some shares were sold in multiple transactions at prices in the ~$2.97–$3.04 range.
• Sale method: Sales were effected pursuant to a Rule 10b5-1 trading plan adopted Aug 27, 2025 (filing footnote).
• Derivative reporting: The filing also lists zero‑dollar derivative disposals corresponding to the option conversions (standard reporting when options convert to shares).
• Shares owned after transaction: not specified in the excerpt provided.
• Filing timeliness: Report filed May 29, 2026 for transactions on May 27–28, 2026 (appears to be timely).

Context
This was an exercise of options followed by immediate open-market sales of the resulting shares (commonly a cashless or sell-to-cover sequence). Sales executed under a pre-established 10b5-1 plan are typically routine dispositions mapped out in advance; the filing shows no indication of late reporting.