[Form 4] Clene Inc. Insider Trading Activity

Rhea-AI Filing Summary

Clene Inc. (CLNN) reported a Section 16 Form 4 disclosing that director David J. Matlin was granted a stock option on 08/14/2025 for 7,255 shares of common stock under the companys Amended 2020 Stock Plan. The option has an exercise price of $3.60 per share, vests immediately upon grant, and is exercisable through an expiration date of 08/13/2035. Following the grant, Mr. Matlin beneficially owns 7,255 underlying shares via this option, held in a direct ownership form. The Form 4 was filed by one reporting person and signed via POA.

Positive

• Option grant clearly documented: 7,255 options disclosed under the Amended 2020 Stock Plan, providing transparency to investors.
• Immediate vesting: The options vest immediately upon grant, aligning the director's interests with shareholders from the grant date.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received an immediately vested option for 7,255 shares at $3.60, a compensation event but not a company financial disclosure.

This Form 4 records an equity grant to a director rather than operational performance metrics. The immediate vesting aligns the directors economic exposure with shareholder outcomes from grant date forward. The grant size (7,255 options) and $3.60 exercise price are explicit; no additional compensation amounts, cash payments, or aggregate dilution context are provided in the filing. As a stand-alone filing, it signals routine director compensation activity rather than a material corporate event.

Corporate Governance Expert

TL;DR: Immediate vesting of a director option indicates an incentive alignment decision; filing documents compliance with Section 16 reporting.

The filing documents compliance with insider reporting rules and specifies that the options vest immediately as granted under the Amended 2020 Stock Plan. The report shows direct beneficial ownership of the optioned shares and provides clear exercise and expiration terms. The Form 4 does not include additional governance actions, changes to the equity plan, or related-party transaction disclosures beyond the grant itself.

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

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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).

Check this box to indicate that a transaction was 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). See Instruction 10.

1. Name and Address of Reporting Person^*

MATLIN DAVID J

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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

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	$3.6	08/14/2025		A		7,255		(1)	08/13/2035	common stock	7,255	$0	7,255	D

Explanation of Responses:

1. This option was granted on August 14, 2025 as an option for 7,255 share of Common Stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $3.60 per share. The options vest immediately upon grant.

	/s/ Jerome T. Miraglia POA	08/15/2025
	** 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 Clene (CLNN) disclose in the Form 4 filed by David J. Matlin?

The Form 4 discloses a grant of a stock option for 7,255 shares at an exercise price of $3.60 that vests immediately and expires on 08/13/2035.

When was the transaction reported for the Clene (CLNN) director option grant?

The transaction date reported in the Form 4 is 08/14/2025.

How many shares does the option cover and how many are owned after the grant?

The option covers 7,255 underlying shares and the filing shows beneficial ownership of 7,255 shares following the reported transaction.

What is the exercise price and expiration for the option disclosed by CLNN?

The option exercise price is $3.60 per share and the expiration date is 08/13/2035.

Does the Form 4 indicate whether the ownership is direct or indirect?

Yes, the Form 4 indicates the ownership form as Direct (D) for the reported option.