Rodman David Malcom 4

What Happened
Rodman David Malcom, Chief Medical Officer of Mineralys Therapeutics (MLYS), exercised 2,171 stock options and immediately sold the resulting 2,171 shares. He paid $16.00 per share to exercise (cost $34,736) and sold the shares in the open market at $30.21 per share, for proceeds of $65,586 (gross spread ≈ $30,850).

Key Details

• Transaction date: February 9, 2026 (reported on Form 4 filed Feb 11, 2026). Filing appears timely (within the usual 2‑business‑day window).
• Exercise: 2,171 shares at $16.00 (total exercise cost $34,736). (Code M = option exercise)
• Sale: 2,171 shares at $30.21 (total proceeds $65,586). (Code S = open market sale)
• Derivative reporting: 2,171 shares reported as disposed in connection with the exercise (standard Form 4 reporting).
• Notable footnotes: F1 — transactions executed under a Rule 10b5‑1 trading plan adopted Oct 6, 2025; F2 — the option vests 25% after one year, then monthly over 36 months.
• Shares owned after transaction: not specified in the provided summary of the filing.

Context

• This is effectively a cashless exercise: the options were exercised and the shares sold shortly thereafter under a pre‑arranged 10b5‑1 plan, locking in the difference between the sale price and the exercise price.
• Such transactions are common for executives monetizing vested option awards and, when done under 10b5‑1 plans, are pre‑scheduled and not necessarily a signal of a change in insider sentiment.