Joshi Manher 4

What Happened

• Manher Joshi, Chief Development Officer of Soleno Therapeutics (SLNO), was granted a total of 8,800 restricted stock units (RSUs) on January 21, 2026. The grants are reported as acquisitions at $0.00 (no cash paid). Specifically, 4,100 RSUs are identified in footnote F1 and 4,700 RSUs are reported as derivative RSUs (footnote F2).

Key Details

• Transaction date: January 21, 2026; Form 4 filed January 23, 2026 (timely filing).
• Grant amount and price: 4,100 RSUs @ $0.00 and 4,700 RSUs (derivative) @ $0.00; total: 8,800 RSUs; total cash paid reported = $0.
• Shares owned after transaction: Not specified in the provided excerpt of the filing.
• Footnotes of note:
  • F1: The 4,100 securities are RSUs; each converts to one share and 100% of these RSUs vest on December 15, 2027, subject to continued service.
  • F2: The 4,700 securities are RSUs, each convertible to one share and subject to their applicable vesting schedule and conditions.
  • F3: Describes a 1/48th monthly vesting schedule (vesting begins Feb 1, 2026) for certain awards subject to continued service—appears to describe monthly vesting terms for related awards.
• Transaction type: Award/Grant (code A) — not a market purchase or sale.

Context

• RSUs are deferred compensation: they represent a contingent right to receive shares if vesting conditions (typically continued service) are met; they do not immediately increase tradable float until vested and settled.
• This is a grant (neutral to mildly constructive), not an insider purchase or sale. Grants are common for employee compensation and retention; they do not by themselves signal present-day buying or selling of stock.