Form 4: Mineralys CMO Sells Shares Under 10b5-1 Plan

Mineralys Therapeutics' Chief Medical Officer, David Malcom Rodman, executed multiple stock option exercises and subsequent sales of common stock in February 2026 under a pre-arranged 10b5-1 trading plan.

Summary

• David Malcom Rodman, Chief Medical Officer of Mineralys Therapeutics, Inc. (MLYS), engaged in a series of transactions involving the exercise of stock options and the sale of common stock.
• All transactions occurred on February 12, 2026, and February 13, 2026, and were executed pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025.
• A total of 14,056 shares of common stock were acquired through the exercise of stock options at prices ranging from $1.08 to $14.25 per share.
• A total of 20,404 shares of common stock were disposed of through sales at weighted-average prices ranging from $27.33 to $29.6387 per share.
• Following these transactions, Rodman's direct beneficial ownership of common stock decreased to 44,089 shares.
• Remaining derivative securities include stock options with exercise prices of $1.08 (31,743 shares), $10.2 (127,501 shares), and $14.25 (100,001 shares).

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as neutral. While an insider sale can be perceived negatively, the execution under a pre-arranged 10b5-1 plan suggests a planned liquidity event rather than a reaction to new, adverse information, thus mitigating strong positive or negative sentiment.

Positives

• The Chief Medical Officer exercised stock options, indicating the realization of value from previously granted equity compensation.

Negatives

• Chief Medical Officer David Malcom Rodman sold a net of 6,348 shares of common stock (20,404 sold minus 14,056 acquired via exercise) over two days.
• The sales resulted in a decrease in his direct beneficial ownership of common stock to 44,089 shares.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

StockSavvy.ai notes that insider sales, even when executed under a Rule 10b5-1 trading plan, are routinely monitored by the market. While the pre-arranged nature of these transactions suggests a planned liquidity event rather than a reaction to new, adverse information, a reduction in an insider's equity stake can still be interpreted by some investors as a signal, particularly in the biotechnology sector where insider confidence is often closely watched.

Stakeholder Impact

• Shareholders may interpret the insider's net sale of shares differently; some may view it as a negative signal, while others will recognize the routine nature of transactions executed under a pre-arranged 10b5-1 plan.

Next Steps

• Remaining stock options will continue to vest according to their schedules, with one option vesting in monthly installments over four years (1/48th monthly) and others vesting 25% on the first anniversary of the grant date, with the remainder in 36 substantially equal monthly installments.

Key Dates

Recommendation

The sale by the Chief Medical Officer was executed under a pre-arranged 10b5-1 trading plan, which typically indicates a planned liquidity event rather than a reaction to new company-specific information. While a net insider sale can sometimes be a bearish signal, the pre-planned nature mitigates its immediate negative impact, suggesting a 'hold' stance for investors to monitor future developments.

Keywords

Mineralys Therapeutics, MLYS, Form 4, insider trading, stock options, 10b5-1 plan, Chief Medical Officer, share sale