Garnett Timothy John 4

What Happened

• Timothy John Garnett, a MapLight Therapeutics (MPLT) director, was granted 3,932 restricted stock units (RSUs) and a stock option covering 14,902 shares on June 23, 2026. Both awards were granted at $0.00 (no cash exchanged) as part of the company's non-employee director compensation program.
• The RSUs and the option are subject to vesting: they vest on the earlier of (i) June 23, 2027, or (ii) the date of the issuer's next annual stockholder meeting, provided Garnett maintains the required continuous service.

Key Details

• Transaction date: 2026-06-23; Filing date: 2026-06-25 (filed within the typical two-business-day Form 4 window).
• Grants: 3,932 RSUs (each RSU represents a contingent right to one share) and a stock option covering 14,902 shares. Reported acquisition price: $0.00.
• Vesting: Earlier of June 23, 2027, or the next annual meeting, subject to continuous service (per footnotes).
• Ownership note: The filing indicates Garnett has voting and dispositive power over shares held in the Timothy J Garnett Revocable Trust (dated 09/22/2021). The filing does not state the total number of shares owned after these grants.
• Grant reason: Awarded under the Issuer's 2025 Equity Incentive Plan as part of non-employee director compensation.

Context

• RSUs: Represent a contingent right to receive common stock at vesting (no immediate share issuance until vesting conditions are met).
• Stock option: A derivative grant giving the holder the right to purchase shares subject to the same vesting schedule; the filing does not indicate exercise or sale.
• These awards are routine director compensation and do not by themselves indicate buying or selling sentiment. They increase the director’s potential equity stake if and when they vest or are exercised.