Clene director buys 198K shares in offering

A Clene Inc. director and ten percent owner reported an indirect acquisition of 198,171 shares via an affiliated LLC in a registered direct offering.

Rhea-AI Filing Summary

Clene Inc. (CLNN) reported that director and ten percent owner Alison Mosca had 198,171 shares of common stock acquired on September 16, 2026, by Kensington Clene 2021, LLC at $3.28 per share in a registered direct offering approved under Rule 16(b)-3. After this grant, Kensington Clene 2021, LLC holds 478,671 shares indirectly associated with Ms. Mosca, who is the sole manager and a minority owner and disclaims any interest beyond her pecuniary stake. Separate from this LLC position, Ms. Mosca reports 1,973 shares held directly, 150,333 shares held indirectly through Kensington Investments, L.P., and 72,997 shares held indirectly through the Robert C. Gay 1998 Family Trust, with the filing stating she has no pecuniary interest in the trust-held shares and disclaims interests where she lacks a profits interest. No transactions were reported under a Rule 10b5-1 trading plan.

Insider Trade Summary

Grant/Award: 198,171 shares

Grant/Award 4 txns

Insider Mosca Alison

Role Director, 10% Owner

Type	Security	Shares	Price	Value
Grant/Award	common stock F1, F2	198,171	$3.28	$650K
holding	common stock	--	--	--
holding	common stock F3	--	--	--
holding	common stock F4	--	--	--

Holdings After Transaction: common stock — 478,671 shares (Indirect, By LLC); common stock — 1,973 shares (Direct); common stock — 150,333 shares (Indirect, By LP); common stock — 72,997 shares (Indirect, By trust)

Footnotes (4)

1. F1. Kensington Clene 2021, LLC purchased 198,171 shares of common stock of Clene Inc. for a purchase price of $3.28 per share in a registered direct offering directly from the Issuer. The issuance of such securities was approved by the Issuer's board of directors in accordance with Rule 16 (b)-3 of the Securities Exchange Act of 1934, as amended.
2. F2. The securities are owned by Kensington Clene 2021, LLC. Ms. Mosca is the sole manager of and owns a minority interest in Kensington Clene 2021, LLC. The securities owned by Kensington Clene 2021, LLC may be deemed to be beneficially owned by Ms. Mosca. Ms. Mosca disclaims all securities owned by Kensington Clene 2021, LLC for which she does not have a pecuniary or profits interest.
3. F3. The securities are owned by Kensington Investments, L.P. Ms. Mosca is the chief executive officer of Kensington Investments, L.P. The securities owned by Kensington Investments, L.P. may be deemed to be beneficially owned by Ms. Mosca. Ms. Mosca disclaims all securities owned by Kensington Investments, L.P., for which she does not have a pecuniary or profits interest.
4. F4. The securities are owned by the Robert C. Gay 1998 Family Trust. Ms. Mosca is the trustee of the Robert C. Gay 1998 Family Trust. The securities owned by the Robert C. Gay 1998 Family Trust may be deemed to be beneficially owned by Ms. Mosca. Ms. Mosca has no pecuniary interest or profits interest in the securities held by the Robert C. Gay 1998 Family Trust.

Key Figures

Shares acquired by Kensington Clene 2021, LLC: 198,171 shares Purchase price per share: $3.28 per share Indirect LLC holdings after transaction: 478,671 shares +3 more

6 metrics

Shares acquired by Kensington Clene 2021, LLC 198,171 shares Common stock acquired on September 16, 2026 in a registered direct offering

Purchase price per share $3.28 per share Price paid by Kensington Clene 2021, LLC in the registered direct offering

Indirect LLC holdings after transaction 478,671 shares Common stock held by Kensington Clene 2021, LLC following the acquisition

Direct holdings 1,973 shares Common stock held directly by Alison Mosca as of September 16, 2026

Indirect holdings via Kensington Investments, L.P. 150,333 shares Common stock held by Kensington Investments, L.P., possibly deemed beneficially owned

Indirect holdings via Robert C. Gay 1998 Family Trust 72,997 shares Common stock held by the trust; filing states Ms. Mosca has no pecuniary interest

Key Terms

registered direct offering, beneficially owned, pecuniary or profits interest, Rule 16 (b)-3

4 terms

registered direct offering financial

"purchased 198,171 shares of common stock of Clene Inc. for a purchase price of $3.28 per share in a registered direct offering"

A registered direct offering is a way for a company to sell new shares of its stock directly to select investors with regulatory approval. This method allows the company to raise funds quickly and efficiently without needing a public auction, similar to offering exclusive access to a limited number of buyers. For investors, it often provides an opportunity to purchase shares at a favorable price, while giving the company immediate access to capital.

beneficially owned financial

"The securities owned by Kensington Clene 2021, LLC may be deemed to be beneficially owned by Ms. Mosca."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

pecuniary or profits interest financial

"Ms. Mosca disclaims all securities owned by Kensington Clene 2021, LLC for which she does not have a pecuniary or profits interest."

Rule 16 (b)-3 regulatory

"approved by the Issuer's board of directors in accordance with Rule 16 (b)-3 of the Securities Exchange Act of 1934"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did Clene Inc. (CLNN) report for Alison Mosca on this Form 4?

The filing reports that 198,171 shares of Clene Inc. common stock were acquired on September 16, 2026 by Kensington Clene 2021, LLC in a registered direct offering, and this position is reported as indirectly associated with director and ten percent owner Alison Mosca.

At what price were the new CLNN shares acquired in the reported transaction?

The 198,171 Clene Inc. shares were acquired for a purchase price of $3.28 per share in a registered direct offering directly from the issuer, as approved by its board of directors under Rule 16(b)-3 of the Securities Exchange Act of 1934.

How many CLNN shares does the affiliated LLC hold after the reported acquisition?

After the reported acquisition, Kensington Clene 2021, LLC holds 478,671 shares of Clene Inc. common stock. These securities may be deemed beneficially owned by Alison Mosca, who is the sole manager and a minority owner, but she disclaims interests for which she has no pecuniary or profits interest.

What other Clene Inc. share holdings are reported for Alison Mosca on this Form 4?

The Form 4 reports 1,973 shares of Clene Inc. common stock held directly, 150,333 shares held indirectly through Kensington Investments, L.P., and 72,997 shares held indirectly through the Robert C. Gay 1998 Family Trust, with Ms. Mosca disclaiming interests where she lacks a pecuniary or profits interest.

Was the reported CLNN transaction made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates no Rule 10b5-1 trading plan for the reported acquisition; the document-level checkbox for affirming a Rule 10b5-1 plan is marked as not selected, and the footnotes do not describe any pre-arranged trading plan.

What role does Alison Mosca have in relation to Clene Inc. (CLNN)?

Alison Mosca is identified as a director and a ten percent owner of Clene Inc. Her reported holdings include direct shares and indirect interests through Kensington Clene 2021, LLC, Kensington Investments, L.P., and the Robert C. Gay 1998 Family Trust, subject to the pecuniary interest disclaimers stated.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/18/2026 - 01:40 PM Accepted by SEC EDGAR 09/18/2026 - 01:40 PM Learn about SEC filing dates

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).

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^*

Mosca Alison

(Last) (First) (Middle)

6550 SOUTH MILLROCK DRIVE

SUITE G50

(Street)

SALT LAKE CITY UTAH 84121

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2026

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

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

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

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
common stock	09/16/2026		A		198,171	A	$3.28	478,671(1)	I	By LLC(2)
common stock								1,973	D
common stock								150,333	I	By LP(3)
common stock								72,997	I	By trust(4)

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

Explanation of Responses:

1. Kensington Clene 2021, LLC purchased 198,171 shares of common stock of Clene Inc. for a purchase price of $3.28 per share in a registered direct offering directly from the Issuer. The issuance of such securities was approved by the Issuer's board of directors in accordance with Rule 16 (b)-3 of the Securities Exchange Act of 1934, as amended.

2. The securities are owned by Kensington Clene 2021, LLC. Ms. Mosca is the sole manager of and owns a minority interest in Kensington Clene 2021, LLC. The securities owned by Kensington Clene 2021, LLC may be deemed to be beneficially owned by Ms. Mosca. Ms. Mosca disclaims all securities owned by Kensington Clene 2021, LLC for which she does not have a pecuniary or profits interest.

3. The securities are owned by Kensington Investments, L.P. Ms. Mosca is the chief executive officer of Kensington Investments, L.P. The securities owned by Kensington Investments, L.P. may be deemed to be beneficially owned by Ms. Mosca. Ms. Mosca disclaims all securities owned by Kensington Investments, L.P., for which she does not have a pecuniary or profits interest.

4. The securities are owned by the Robert C. Gay 1998 Family Trust. Ms. Mosca is the trustee of the Robert C. Gay 1998 Family Trust. The securities owned by the Robert C. Gay 1998 Family Trust may be deemed to be beneficially owned by Ms. Mosca. Ms. Mosca has no pecuniary interest or profits interest in the securities held by the Robert C. Gay 1998 Family Trust.

	/s/ Jerome T. Miraglia POA	09/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)