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Clene (CLNN) Amends Form 4 to Correct Option Price to $5.88

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4/A

Rhea-AI Filing Summary

Clene Inc. (CLNN) reported an amended Form 4 showing an option grant to Robert Dee Etherington, President & CEO and director. The amendment corrects the exercise price to $5.88 per share for an option covering 40,000 shares of common stock granted on 09/25/2025 under the Clene Inc. Amended 2020 Stock Plan. The options vest in 12 equal monthly installments beginning 10/25/2025 and expire on 09/24/2035. The filing was signed by Jerome T. Miraglia as POA on 09/30/2025.

Positive

  • Correction filed: The amendment explicitly corrects the exercise price to $5.88, improving disclosure accuracy.
  • Clear vesting schedule: The options vest in 12 equal monthly installments starting 10/25/2025, which is fully described.
  • Standard option term: The option expiration date is 09/24/2035, a conventional ten‑year term.

Negative

  • Original filing error: The Form 4 required an amendment because the initial filing contained an incorrect exercise price.

Insights

TL;DR: Executive received a time‑based option grant of 40,000 shares at $5.88, amended to correct the exercise price.

The amendment clarifies the economic terms of the award to the CEO and confirms standard monthly vesting over 12 months, which indicates a short-term retention schedule. Correcting the exercise price improves disclosure accuracy and compliance with Section 16 filing requirements. The grant size and ten‑year term align with typical executive option practices, but the filing does not state the grant's proportion relative to outstanding shares or any performance conditions.

TL;DR: A routine equity-based compensation action was recorded; amendment fixes an administrative error.

The award of options for 40,000 shares exercisable at $5.88 with monthly vesting over one year is a straightforward time‑based retention tool. The ten‑year expiration is conventional for stock options. The amendment solely corrects the exercise price and does not add new economic terms. There is no information here on grant-date valuation, total company dilution, or whether this replaces or supplements prior awards.

Insider Etherington Robert Dee
Role President & CEO
Type Security Shares Price Value
Grant/Award stock option 40,000 $0.00 --
Holdings After Transaction: stock option — 40,000 shares (Direct)
Footnotes (1)
  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. This option was granted on September 25, 2025 as an option for 40,000 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.
Form 4 Insider Transactions: What Each Field Means →
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
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
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*
Etherington Robert Dee
(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)
X Director 10% Owner
X Officer (give title below) Other (specify below)
President & CEO
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) 09/25/2025 A 40,000 (2) 09/24/2035 common stock 40,000 $0 40,000 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 40,000 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.

Source: View Original Filing on SEC EDGAR

FAQ

What transaction did CLNN report on this Form 4/A?

The filing reports an option grant to Robert Dee Etherington for 40,000 shares of common stock granted on 09/25/2025.

What is the corrected exercise price for the CLNN option?

The amended Form 4 states the exercise price is $5.88 per share.

When do the CLNN options vest and when do they expire?

The options vest in 12 equal monthly installments beginning 10/25/2025 and expire on 09/24/2035.

What is the reporting person’s role at CLNN?

The reporting person, Robert Dee Etherington, is listed as President & CEO and a director of Clene Inc.

Why was this Form 4 amended?

The amendment was filed to correct the exercise price reported on the Form 4 filed on 09/29/2025.