[Form 4/A] Clene Inc. Amended Insider Trading Activity

Rhea-AI Filing Summary

Clene Inc. reporting person Morgan R. Brown, Chief Financial Officer, filed an amended Form 4 to correct details of an option grant. The amendment states a stock option for 10,000 shares of common stock was granted on 09/25/2025 under the Clene Inc. Amended 2020 Stock Plan with a corrected exercise price of $5.88 per share. The options vest in 12 equal monthly installments beginning 10/25/2025 and fully vest after 12 months. The amendment corrects a previously filed Form 4 dated 09/29/2025 and was signed by POA on 09/30/2025. The filing reflects an insider compensation-related equity award with a defined vesting schedule and a specified exercise price.

Positive

• Corrected disclosure clarifies the exercise price as $5.88, improving reporting accuracy
• Defined vesting schedule (12 equal monthly installments starting 10/25/2025) aligns executive incentives with continued service

Negative

• Insider equity grant increases potential outstanding options by 10,000 shares (dilution potential), though materiality is not provided

Insights

Financial Analyst

TL;DR: A routine insider option grant for 10,000 shares at $5.88 with monthly vesting; corrections clarified by the amendment.

The amended Form 4 corrects the exercise price to $5.88 and documents an option grant to the CFO for 10,000 shares granted 09/25/2025. Vesting occurs in 12 equal monthly installments starting 10/25/2025. This is a standard compensation mechanism aligning executive incentives with shareholder value growth. The amendment addresses a reporting error and improves transparency about the grant terms. There is no additional financial data or company-wide equity context in the filing to assess materiality relative to total outstanding shares.

Corporate Governance Expert

TL;DR: Document is a corrective filing clarifying option terms and vesting; governance disclosure appears compliant.

The Form 4/A corrects a prior filing by specifying the exercise price and vesting schedule for the 10,000-share option awarded under the 2020 Stock Plan. The amendment and the use of a power of attorney signature indicate follow-through on disclosure obligations. The filing contains clear vesting dates and exercise price, supporting transparent insider compensation reporting. The filing does not include other governance changes or additional related-party transactions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BROWN MORGAN R

(Last) (First) (Middle)

6550 SOUTH MILLROCK DRIVE

SUITE G50

(Street)

SALT LAKE CITY UT 84121

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Clene Inc. [ CLNN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
09/29/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
stock option	$5.88(1)							(2)	09/24/2035	common stock	10,000		10,000	D

Explanation of Responses:

1. This Form 4 amendment is being filed to correct a Form 4 filed on September 29, 2025. The corrected exercise price is $5.88 per share.

2. This option was granted on September 25, 2025 as an option for 10,000 shares of Common Stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $5.88 per share. The options vest in 12 equal monthly installments on the 25th day of each calendar month, beginning October 25, 2025, until such shares are fully vested.

	/s/ Jerome T. Miraglia POA	09/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did the Clene (CLNN) Form 4/A amend?

The amendment corrected the exercise price to $5.88 for an option grant and restated the grant details for accuracy.

How many shares were included in the option grant reported on the Form 4/A for CLNN?

The option grant covers 10,000 shares of Clene Inc. common stock.

When were the options granted and when do they begin vesting?

The options were granted on 09/25/2025 and vest in 12 equal monthly installments beginning 10/25/2025.

What is the exercise price of the options in the CLNN Form 4/A?

The corrected exercise price is $5.88 per share.

Who is the reporting person on the Form 4/A and what is their role?

The reporting person is Morgan R. Brown, identified as Chief Financial Officer (CFO).