Savitz Ryan 4

What Happened

• Ryan Savitz, EVP, Chief Financial & Business Officer of Dianthus Therapeutics (DNTH), exercised stock options for a total of 114,367 shares (74,367 shares at $8.44 and 40,000 shares at $17.88) on 2026-03-31, paying about $1.34M in exercise costs.
• The same 114,367 shares were sold in multiple open-market transactions on 2026-03-31 for aggregate gross proceeds of approximately $9.49M (weighted sales prices across tranches). Net proceeds after the exercise costs were roughly $8.15M. This sequence (exercise then sale) is effectively a cashless exercise and sale rather than an outright purchase for long-term holding.

Key Details

• Transaction date: March 31, 2026.
• Options exercised: 74,367 shares @ $8.44 and 40,000 shares @ $17.88 (total exercise cost ≈ $1,342,857).
• Shares sold: 114,367 shares in multiple trades for total proceeds ≈ $9,492,595 (sales prices ranged roughly $77.74 to $85.97 across trades).
• Net cash (proceeds minus exercise cost): ≈ $8.15M (before taxes/fees).
• Footnotes: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted Dec 30, 2025 (F1). Vesting schedules for the option awards are noted in the filing (F10, F11). Multiple weighted-average price ranges are disclosed for different sale tranches (F2–F9).
• Shares owned after the transactions: not specified in the provided excerpt of the filing.
• Timeliness: Form 4 was filed on Apr 1, 2026 covering trades on Mar 31, 2026 — appears timely (no late‑filing flag noted).

Context

• These were option exercises (transaction code M) followed by sales (S). When exercised shares are immediately sold, it is commonly referred to as a cashless exercise and does not necessarily indicate a long‑term buy signal.
• The trades were executed under a pre-established 10b5‑1 plan, which typically means the sales were scheduled in advance and reduce the likelihood the trades were based on nonpublic information.
• The filing is factual; it does not disclose the insider’s motivation or tax strategy.