[Form 4] Clene Inc. Insider Trading Activity

Rhea-AI Filing Summary

Clene Inc. director Reed N. Wilcox was granted a stock option for 3,720 shares of common stock on 08/14/2025 at an exercise price of $3.60 per share. The option was granted under the Clene Inc. Amended 2020 Stock Plan, vests immediately, and expires on 08/13/2035. Following the grant, the reporting person beneficially owns 3,720 underlying shares through this option. The Form 4 was signed by a power of attorney, Jerome T. Miraglia, and filed on 08/15/2025.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant with immediate vesting; standard governance disclosure, limited investor impact.

The filing documents a customary equity award to a company director under the existing stock plan. Immediate vesting accelerates alignment between the director and shareholders but could raise minor governance questions about granting fully vested awards rather than time- or performance-based vesting. The grant size—3,720 options at $3.60—is small relative to typical outstanding shares for most public companies and does not indicate a material change in ownership or control based on the information provided.

Compensation Analyst

TL;DR: Compensation move is standard non-cash director pay; financially immaterial but aligns incentives.

This Form 4 reports a non-derivative option-like award that vests immediately and carries a ten-year term to expiration. From a compensation design view, immediate vesting is less performance-contingent than multi-year schedules commonly used to retain directors, but the absolute number and strike price suggest the award is a routine grant for service rather than a material remediation or retention event. No cash transactions or exercises are reported.

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).

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^*

WILCOX REED N

(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		3,720		(1)	08/13/2035	common stock	3,720	$0	3,720	D

Explanation of Responses:

1. This option was granted on August 14, 2025 as an option for 3,720 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 Inc. insider Reed N. Wilcox receive on 08/14/2025?

The reporting person was granted a stock option for 3,720 shares at an exercise price of $3.60 per share under the Amended 2020 Stock Plan.

When do the options vest and when do they expire for CLNN Form 4?

The options vest immediately upon grant and expire on 08/13/2035.

How many shares does the reporting person beneficially own after the transaction?

Following the reported transaction the reporting person beneficially owns 3,720 shares through the option.

Who filed the Form 4 and when was it filed?

The Form 4 was signed by /s/ Jerome T. Miraglia POA and filed on 08/15/2025.

What plan governed the option grant reported in the CLNN Form 4?

The option was granted under the Clene Inc. Amended 2020 Stock Plan.