Huang Michael F. 4

What Happened
Michael F. Huang, Senior Vice President of Clinical Development at Soleno Therapeutics (SLNO), was granted RSU awards on January 21, 2026 totaling 22,300 units (10,400 and 11,900 RSUs). The grants were reported at $0.00 per share (typical for RSU awards); no cash changed hands. These are awards/derivative grants (transaction code A).

Key Details

• Transaction date: 2026-01-21 (reported on Form 4 filed 2026-01-23). Filing appears timely.
• Grants: 10,400 RSUs (A) at $0.00; 11,900 RSUs (A, derivative) at $0.00 — total 22,300 RSUs.
• Reported value: $0 cash paid; value will depend on future stock price when/if RSUs vest and convert to shares.
• Shares owned after transaction: not specified in the provided filing details.
• Footnotes of note:
  • F1: These RSUs represent a contingent right to receive one share each; 100% of the RSUs described in F1 vest on December 15, 2027, subject to continued service.
  • F2: Confirms certain securities are RSUs subject to their applicable vesting schedules.
  • F3: Describes a 1/48th monthly vesting schedule beginning Feb 1, 2026 (appears to describe monthly vesting for certain option-style awards).
• Transaction type: Award/Grant (A). These are compensatory awards, not open-market purchases or sales.

Context
RSUs are a standard form of equity compensation: they give the holder a contingent right to receive shares if vesting and service conditions are met. Because these are grants (not purchases or sales), they are primarily a compensation event and do not necessarily signal an insider view on near-term share price. The economic value to the insider will only be realized if/when the RSUs vest and convert to common stock (and subject to any tax withholdings at vesting).