Mineralys (MLYS) Director Daphne Karydas Exercises Options and Sells Shares

What Happened

• Daphne Karydas, a director of Mineralys Therapeutics (MLYS), exercised 3,000 stock options on 2026-09-15 by paying $12.02 per share (total $36,060) and the same day sold 3,000 shares in an open-market transaction at $28.58 per share (gross proceeds $85,740). The Form 4 also lists a 3,000-share derivative conversion shown as disposed at $0, reflecting the option conversion.

Key Details

• Transaction date: 2026-09-15; Form 4 filed: 2026-09-17 (timely filing).
• Exercise (code M): 3,000 shares at $12.02 = $36,060 (acquired).
• Sale (code S): 3,000 shares at $28.58 = $85,740 (disposed).
• Derivative conversion: 3,000 shares listed as disposed at $0 (reflects option conversion).
• Shares owned after transaction: not specified in the filing provided.
• Footnotes: F1 — trades executed pursuant to a Rule 10b5-1 trading plan adopted Dec 22, 2025. F2 — the underlying option vests in 36 monthly installments beginning Oct 13, 2023.

Context

• This is an option exercise paired with an immediate sale (commonly a cashless exercise/sale) carried out under a pre-established 10b5-1 plan, which is typically used to automate insider trades. The filing shows gross proceeds of $85,740 against an exercise cost of $36,060 (rough difference ≈ $49,680 before taxes and fees). As with most Form 4 sales under a 10b5-1 plan, the transaction is routine disclosure rather than an explicit statement of the insider’s view on the company.