Malenka Robert C. 4

What Happened

• Robert C. Malenka, a director of MapLight Therapeutics, sold a total of 34,398 shares of common stock in open-market transactions between Jan 28–30, 2026 for aggregate proceeds of approximately $635,857. Individual reported disposals:
  • 5,860 shares at $18.61 each — $109,055 (Jan 28)
  • 664 shares at $19.05 each — $12,649 (Jan 28)
  • 21,262 shares at $18.55 each — $394,410 (Jan 29)
  • 6,612 shares at $18.11 each — $119,743 (Jan 30)
• These were sales (code S), not purchases. According to the filing, the sales were made to cover tax obligations in connection with the settlement of restricted stock units (RSUs), a routine tax-withholding sale following an award.

Key Details

• Dates and prices: Jan 28–30, 2026; reported prices are weighted averages across multiple trades. The filing discloses trade price ranges and says the reporter can provide a per-trade breakdown on request.
• Total sold: 34,398 shares for ~$635,857.
• Reason: Footnote states shares were sold to cover tax withholding on settled RSUs.
• Holdings: The filing notes the shares are held by the Robert C. Malenka Living Trust (he is sole trustee and has voting/dispositive power). The exact number of shares owned after the transactions is not specified in the summary provided.
• Lock-up: Footnote indicates retained securities remain subject to an IPO lock-up agreement (180 days from Oct 26, 2025) with certain exceptions — the tax-withholding sale is noted in the filing.
• Timeliness: Form 4 was filed Jan 30, 2026 for transactions dated Jan 28–30; this appears within the typical two-business-day reporting window.

Context

• These sales are described as tax-withholding related to RSU settlement, which is a common, routine reason insiders sell shares and does not necessarily signal a change in their view of the company. Sales (S) are generally less informative about insider sentiment than purchases.