Zedelmayer Christine 4

What Happened

• Christine Zedelmayer, Senior Vice President and COO of Equillium (EQ), exercised options for 14,584 shares at a strike of $0.79 per share (cost $11,448) on 2026-06-05 and sold those 14,584 shares the same day in an open-market sale. The sale generated gross proceeds of about $42,737 (weighted average price $2.93), implying roughly $31,289 in proceeds above the exercise cost before fees and taxes. This was a sale (not a new purchase).

Key Details

• Transaction date: 2026-06-05.
• Exercise: 14,584 shares exercised at $0.79/share; cash paid $11,448.
• Sale: 14,584 shares sold, weighted-average price $2.93; gross proceeds $42,737 (sales executed at $2.91–$2.95 per share).
• Footnote: The sale was effected under a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025.
• Vesting note: The option vests 25% after one year, then monthly over the next three years (36 monthly installments).
• The Form 4 shows a derivative entry at $0.00 related to the option conversion/settlement (administrative reporting of the exercised derivative).
• Shares owned after the transaction are not specified in the provided filing excerpt.
• Filing: Report filed on 2026-06-05 (timely).

Context

• This appears to be an exercise followed by an immediate sale (common cashless exercise/settlement behavior) and was executed under a pre-established 10b5-1 plan, which typically schedules sales in advance. Such insider sales are often routine and do not by themselves indicate a change in the executive’s view of the company.