Rodman David Malcom 4

What Happened

• Rodman David Malcom, Chief Medical Officer of Mineralys Therapeutics (MLYS), exercised stock options to acquire 14,057 shares (exercises at $1.08, $10.20 and $14.25) and then sold a total of 20,406 shares in open‑market transactions. The reported gross proceeds from the sales were approximately $542,973. The exercises required cash payments of about $102,364 in aggregate.
• These sales were executed under a Rule 10b5‑1 trading plan (adopted Oct 6, 2025), and most shares appear to have been sold immediately or shortly after exercise (i.e., effectively a cashless conversion followed by sales).

Key Details

• Transaction dates: March 12–13, 2026; Form 4 filed March 16, 2026 (no late‑filing flag shown in the provided data).
• Exercises (acquired): 6,348 @ $1.08 (paid $6,856); 3,542 @ $10.20 (paid $36,128); 4,167 @ $14.25 (paid $59,380) — total exercised = 14,057 shares (total paid ≈ $102,364).
• Sales (disposed): 6,348 @ $27.37 (≈ $173,748); 10,726 @ $25.91 (≈ $277,922); 3,079 @ $27.37 (≈ $84,265); 253 @ $27.82 (≈ $7,038) — total sold = 20,406 shares (total proceeds ≈ $542,973).
• Weighted‑average price notes: sales reported as weighted averages across multiple transactions (ranges reported in the filing: $25.77–$26.76, $26.772–$27.720, and $27.02–$27.92). The reporting person offered to provide detailed per‑trade prices on request.
• Footnotes: F1 = trades effected under a 10b5‑1 plan; F5/F6 describe option vesting schedules (one vests 25% after year 1 then monthly; another vests monthly over 4 years).
• Shares owned after transaction: not provided in the excerpt supplied.

Context

• For retail investors: this was primarily option exercises followed by open‑market sales. When an insider exercises options and promptly sells the shares (as here), it is often a routine liquidity event rather than an explicit bullish or bearish signal. The presence of a 10b5‑1 plan means the sales were pre‑arranged, which further indicates they were planned transactions, not necessarily reactive to non‑public information.