Warren Eric 4

What Happened
Eric Warren, Chief Commercial Officer of Mineralys Therapeutics (MLYS), exercised 7,438 stock options on July 21, 2026 at a strike price of $13.24 (total cost $98,479) and sold the same 7,438 shares in the open market for a weighted-average price of $26.87, generating proceeds of approximately $199,885. The transactions were effected under a Rule 10b5-1 selling plan.

Key Details

• Transaction date: July 21, 2026; Form 4 filed July 23, 2026 (within the normal 2-business-day reporting window).
• Option exercise: 7,438 shares acquired at $13.24 per share (total $98,479) — reported as derivative exercise (code M).
• Open-market sale: 7,438 shares sold at a weighted-average price of $26.87 (total proceeds $199,885); individual sale prices ranged from $26.53 to $27.09 (footnote F2).
• A separate derivative disposition line shows the converted option position as disposed at $0 (reflecting conversion of the derivative into shares).
• Shares owned after the transaction: not reported in the provided filing.
• Notable footnotes: transactions were made pursuant to a 10b5-1 plan adopted March 27, 2026 (F1); vesting schedule for the option: 25% vested after one year, remainder vesting monthly over 36 months (F3).

Context
This was an exercise-and-sell (cashless) sequence — Warren exercised options and immediately sold the shares, a common way for insiders to realize option gains. The use of a 10b5-1 plan indicates the sales were pre-planned and executed under that trading arrangement; this is typically considered routine and does not necessarily signal a change in executive view.