Malenka Robert C. 4

What Happened

• Robert C. Malenka, a director of MapLight Therapeutics, sold a total of 6,863 shares in two open-market transactions on Feb 10–11, 2026. He disposed of 6,622 shares at an average of $18.12 (proceeds $119,991) and 241 shares at $18.00 (proceeds $4,338), for combined proceeds of about $124,329.
• The filing indicates these sales were made to cover tax obligations arising from the settlement of restricted stock units (RSUs), not an independent open-market investment decision.

Key Details

• Transaction dates & prices: Feb 10, 2026 — 6,622 shares at a weighted avg price $18.12; Feb 11, 2026 — 241 shares at $18.00. Reported price range across all trades: $18.00–$18.41.
• Total sold: 6,863 shares for approximately $124,329. The filing reports a weighted average sales price.
• Reason: Sales were to cover tax withholding on RSU settlement (each RSU converts to one share). (Footnote F1)
• Holdings: Remaining shares are held by the Robert C. Malenka Living Trust (the reporting person is sole trustee with voting and dispositive power). (Footnote F3)
• Lock-up: The filing notes the Reporting Person agreed to a 180‑day IPO lock-up (final prospectus dated Oct 26, 2025); retained securities remain subject to that lock-up, subject to certain exceptions. (Footnote F1)
• Filing: Form 4 filed Feb 12, 2026. The filing does not indicate a late report.

Context

• These were sales (S) tied to tax withholding on RSU settlement — a common administrative reason insiders sell shares and not necessarily an indicator of the insider’s view on the company.
• RSUs: Each restricted stock unit represents a contingent right to receive one share upon settlement; the sold shares were used to satisfy the related tax obligations.