Form 4: Disc Medicine Director Sells Shares Under Pre-Planned Trading Program

Disc Medicine, Inc. Director Kevin Bitterman reported the sale of 8,492 shares of common stock at a weighted average price of $61.04, executed under a Rule 10b5-1 trading plan.

Summary

• Kevin Bitterman, a Director of Disc Medicine, Inc. (IRON), sold 8,492 shares of the company's common stock.
• The transaction occurred on July 30, 2025, at a weighted average price of $61.04 per share.
• The shares were sold in multiple transactions with prices ranging from $60.95 to $61.35.
• The sale was conducted pursuant to a Rule 10b5-1 trading plan, which was established on January 31, 2025.
• Following this transaction, Kevin Bitterman's direct beneficial ownership of Disc Medicine common stock is 0 shares.
• Indirect beneficial ownership includes 625,477 shares held by Atlas Venture Opportunity Fund I, LP, 420,549 shares held by Atlas Venture Opportunity Fund II, LP, and 51,000 shares held by Atlas Venture Fund XII, L.P., with Mr. Bitterman disclaiming beneficial ownership except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The sale of shares by a director, while reducing direct ownership, was conducted under a pre-established Rule 10b5-1 trading plan, which typically indicates a planned liquidity event rather than a negative signal about the company's future prospects. This mitigates potential negative sentiment.

Positives

• The sale was executed under a pre-established Rule 10b5-1 trading plan, indicating a planned liquidity event rather than a reaction to new, potentially negative, company information.

Negatives

• A director's sale of shares, even if pre-planned, reduces their direct ownership stake in the company.

Future Outlook

No forward-looking statements or guidance were provided in this filing.

Industry Context

This filing is a routine insider transaction report and does not provide information related to broader industry trends or competitive landscape.

Related Party Transactions

• Kevin Bitterman disclaims beneficial ownership of shares held by Atlas Venture Opportunity Fund I, LP (625,477 shares), Atlas Venture Opportunity Fund II, LP (420,549 shares), and Atlas Venture Fund XII, L.P. (51,000 shares), except to the extent of his pecuniary interest therein. He is a member of the general partners of these funds.

Stakeholder Impact

• Shareholders may note the reduction in a director's direct ownership, but the pre-planned nature of the sale under a 10b5-1 plan generally lessens concerns about its implications for the company's future performance.

Key Dates

Recommendation

The reported transaction is a pre-planned sale by a director under a Rule 10b5-1 trading plan, which is a common practice for managing personal finances and does not typically signal a change in the company's fundamental outlook. While it reduces the director's direct stake, the pre-scheduled nature suggests it's not a reaction to adverse internal information. Therefore, this specific filing alone does not warrant a change in investment thesis, maintaining a 'hold' recommendation based solely on this information.

Keywords

Disc Medicine, IRON, SEC Form 4, Insider Trading, Stock Sale, Director, Kevin Bitterman, 10b5-1 Plan