Form 4: MLYS CFO Adam Levy Sells Shares, Exercises Options

Mineralys Therapeutics CFO Adam Levy reported exercising stock options and selling common stock on November 11, 2025, alongside transfers to an ex-spouse.

Summary

• Adam Scott Levy, CFO and Secretary of Mineralys Therapeutics, Inc. [MLYS], reported multiple transactions on November 11, 2025.
• The transactions included the exercise of stock options and subsequent sale of common stock, all executed under a Rule 10b5-1 plan.
• A total of 105,653 shares of common stock were acquired through option exercises at prices ranging from $10.20 to $16.00 per share.
• A total of 88,934 shares of common stock were disposed of through sales at weighted-average prices ranging from $41.6522 to $46.8848 per share.
• Following these transactions, Mr. Levy's direct beneficial ownership of common stock decreased from 138,920 shares to 19,396 shares.
• Additionally, 83,598 shares of common stock and 129,049 stock options were transferred to an ex-spouse pursuant to domestic relations orders, and are no longer reported as beneficially owned by Mr. Levy.

Sentiment

Score: 4

Explanation: The filing reports pre-scheduled insider transactions (option exercises and sales) by the CFO under a Rule 10b5-1 plan. While the sales realize significant gains, the substantial reduction in direct beneficial ownership by a key executive could be viewed with slight caution by the market, despite being planned.

Positives

• The CFO exercised stock options, indicating a prior belief in the company's value at the time of grant.
• Sales were executed at significantly higher prices than the option exercise prices, realizing substantial gains for the reporting person.

Negatives

• Significant insider selling by a key executive (CFO) could be perceived negatively by the market, potentially impacting investor sentiment.
• A substantial reduction in the CFO's direct beneficial ownership of common stock.

Risks

• The market may interpret the significant sale of shares by a key executive as a lack of confidence, potentially impacting investor sentiment and the company's stock price.

Future Outlook

NA

Management Comments

• Transactions were made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the reported ranges.

Industry Context

NA

Stakeholder Impact

• Shareholders: May react to the significant insider selling, potentially impacting short-term stock price sentiment, though the 10b5-1 plan mitigates some concerns regarding the timing of the sales.

Key Dates

Recommendation

The filing details pre-scheduled insider transactions by the CFO, including significant sales of common stock. While these transactions were executed under a Rule 10b5-1 plan, which suggests they are not based on new material non-public information, the substantial reduction in the CFO's direct beneficial ownership could lead to negative market sentiment. Investors should hold and monitor future filings and company performance for more fundamental insights.

Keywords

MLYS, Mineralys Therapeutics, Adam Levy, CFO, Form 4, insider trading, stock options, share sale, beneficial ownership, Rule 10b5-1