Ugwumba Chidozie 4

What Happened

• Ugwumba Chidozie, a reported 10% owner of Clene Inc. (CLNN), sold a total of 95,473 shares of CLNN in two transactions. On 2026-05-11 he disposed of 22,177 shares at $6.75 each for $149,695, and on 2026-05-12 he disposed of 73,296 shares at $6.20 each for $454,435 — total proceeds ≈ $604,130. These were reported as open market or private sales (code S). This was a sale (not a purchase or option exercise).

Key Details

• Transaction dates and prices:
  • 2026-05-11: 22,177 shares @ $6.75 — $149,695
  • 2026-05-12: 73,296 shares @ $6.20 — $454,435
• Total shares sold: 95,473; total proceeds ≈ $604,130.
• Shares owned after transaction: not specified in the provided filing; the Form 4 states the reporting person’s beneficial ownership fell below 10% of outstanding common stock.
• Method: reported as open market or private sale (no 10b5-1 plan or tax-withholding notation shown).
• Filing: Form 4 filed 2026-05-13; filing shows the reporting person is no longer subject to Section 16 due to falling below 10% (filing appears timely; no late-filing flag).

Context

• As a sale by a 10% owner, this reduces insider ownership and removes Section 16 reporting obligations once below the 10% threshold — a regulatory, not necessarily a sentiment, change.
• Sales by large shareholders can be routine (liquidity, diversification, tax planning) and do not by themselves indicate company performance; no purchase or exercise activity was reported in this filing.