Form 4: SOLENO THERAPEUTICS Director Dawn Carter Bir Granted Restricted Stock Units

SOLENO THERAPEUTICS INC Director Dawn Carter Bir was granted 3,991 restricted stock units (RSUs) on June 5, 2025, increasing her beneficial ownership to 16,991 shares.

Summary

• Dawn Carter Bir, a Director of SOLENO THERAPEUTICS INC (SLNO), acquired 3,991 shares of Common Stock in the form of Restricted Stock Units (RSUs).
• The transaction occurred on June 5, 2025, with an acquisition price of $0 per share.
• Following this transaction, Ms. Bir's total beneficial ownership in SOLENO THERAPEUTICS INC stands at 16,991 shares.
• Each RSU represents a contingent right to receive one share of Common Stock.
• The RSUs are set to vest on the earlier of the twelve-month anniversary of June 5, 2025, or the day before the next annual stockholder meeting, contingent on Ms. Bir's continued service.
• Ms. Bir has elected to defer the receipt of the shares underlying the vested RSUs until she ceases to provide services to the Issuer or upon a change of control of the Issuer.

Sentiment

Score: 7

Explanation: The sentiment is positive as it indicates a standard equity grant to a director, aligning their interests with shareholders. This is a routine compensation event and generally viewed favorably as it promotes long-term commitment.

Positives

• The grant of Restricted Stock Units to a director aligns their interests with those of the shareholders, incentivizing long-term performance and value creation.
• Equity compensation is a common practice to attract and retain experienced board members.

Future Outlook

The granted Restricted Stock Units are scheduled to vest on the earlier of June 5, 2026, or the day before the next annual stockholder meeting, subject to the director's continued service. The actual delivery of shares is deferred until the director ceases service or a change of control occurs.

Industry Context

The granting of Restricted Stock Units (RSUs) to directors is a standard practice in the biotechnology and pharmaceutical industries, including for companies like Soleno Therapeutics, as a form of non-cash compensation. This method is widely used to align the interests of board members with the long-term performance of the company and its shareholders, encouraging retention and commitment.

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's financial interests with the company's long-term performance, potentially benefiting shareholders through improved governance and strategic oversight.

Next Steps

• Vesting of the 3,991 Restricted Stock Units on the earlier of the twelve-month anniversary of June 5, 2025, or the day before the next annual stockholder meeting.
• Delivery of the vested shares to Dawn Carter Bir upon her cessation of service to the Issuer or a change of control of the Issuer, as per her deferral election.

Key Dates

Keywords

SOLENO THERAPEUTICS, SLNO, Restricted Stock Units, RSU, Insider Transaction, SEC Form 4, Director Compensation, Equity Grant, Beneficial Ownership