Karydas Daphne 4

What Happened

• Daphne Karydas, a director of Mineralys Therapeutics (MLYS), exercised 3,000 stock options at $12.02 per share (total cost $36,060) and on the same day sold 3,000 shares in the open market at $25.00 per share (proceeds $75,000). Both transactions were reported for 2026-03-31.
• The filing also shows a separate derivative disposition of 3,000 shares reported at $0.00; the filing does not provide additional detail on that line beyond the footnotes.

Key Details

• Transaction dates and prices:
  • 2026-03-31: Option exercise (code M) — 3,000 shares acquired @ $12.02, total $36,060.
  • 2026-03-31: Open-market sale (code S) — 3,000 shares sold @ $25.00, proceeds $75,000.
  • 2026-03-31: Derivative disposition (code M) — 3,000 shares @ $0.00, reported $0.
• Shares owned after the transactions: Not specified in this filing.
• Footnotes:
  • F1: Transactions were effected pursuant to a Rule 10b5-1 trading plan adopted Dec 30, 2025.
  • F2: The related stock option vests in 36 monthly installments beginning Oct 13, 2023.
• Filing timeliness: Report filed Apr 2, 2026; appears to be timely (filed within the standard 2 business days after the transaction date).

Context

• Because the exercise and the sale occurred the same day, this effectively resulted in an immediate sale of the newly acquired shares (commonly seen as a cashless exercise pattern), though the filing itself does not state the insider’s intent.
• The 10b5-1 plan note indicates these trades were executed under a pre-established trading arrangement, which is often used to avoid questions about timing.