Clene director buys 434K shares at $3.28

Clene Inc. director David J. Matlin increased his stake through a board-approved registered direct purchase of company shares.

Rhea-AI Filing Summary

Clene Inc. (CLNN) director David J. Matlin acquired additional common stock. On September 16, 2026, he purchased 434,451 shares of Clene common stock at $3.28 per share in a registered direct offering directly from the company, an issuance approved by the board under Rule 16(b)-3.

Following this transaction, Matlin holds 912,275 shares directly and 7,500 shares indirectly through the Matlin Family Trust 2020, which he serves as trustee and may beneficially own. No Rule 10b5-1 trading plan is reported for these purchases.

Insider Trade Summary

Grant/Award: 434,451 shares

Grant/Award 2 txns

Insider MATLIN DAVID J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	common stock F1	434,451	$3.28	$1.42M
holding	common stock F2	--	--	--

Holdings After Transaction: common stock — 912,275 shares (Direct); common stock — 7,500 shares (Indirect, By trust)

Footnotes (2)

1. F1. Mr. Matlin purchased 434,451 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 the Matlin Family Trust 2020. Mr. Matlin is the trustee of the Matlin Family Trust 2020. The shares owned by the Matlin Family Trust 2020 may be beneficially owned by Mr. Matlin.

Key Figures

Shares acquired: 434,451 shares Purchase price per share: $3.28 per share Direct holdings after transaction: 912,275 shares +1 more

4 metrics

Shares acquired 434,451 shares Common stock purchased by David J. Matlin on September 16, 2026

Purchase price per share $3.28 per share Price paid in the registered direct offering

Direct holdings after transaction 912,275 shares Common stock directly owned by David J. Matlin following the acquisition

Indirect holdings via trust 7,500 shares Common stock held by the Matlin Family Trust 2020, which may be beneficially owned by him

Key Terms

registered direct offering, Rule 16 (b)-3, beneficially owned, trustee

4 terms

registered direct offering financial

"purchased 434,451 shares of common stock of Clene Inc. ... in a registered direct offering directly from the Issuer"

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.

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"

beneficially owned financial

"The shares owned by the Matlin Family Trust 2020 may be beneficially owned by Mr. Matlin"

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.

trustee financial

"Mr. Matlin is the trustee of the Matlin Family Trust 2020"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

FAQ

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

What did Clene Inc. (CLNN) director David J. Matlin report in this Form 4?

He reported acquiring 434,451 shares of Clene Inc. common stock on September 16, 2026 at $3.28 per share in a registered direct offering directly from the company, with the issuance approved by the board under Rule 16(b)-3.

How many Clene Inc. (CLNN) shares does David J. Matlin own after this transaction?

After the transaction, David J. Matlin holds 912,275 shares directly and 7,500 shares indirectly through the Matlin Family Trust 2020, which he serves as trustee and which may be beneficially owned by him.

What was the purchase price for the Clene Inc. (CLNN) shares acquired by David J. Matlin?

David J. Matlin purchased 434,451 shares of Clene Inc. common stock for a purchase price of $3.28 per share in a registered direct offering directly from the issuer.

Was David J. Matlin’s Clene Inc. (CLNN) share purchase made under a Rule 10b5-1 plan?

No. The filing indicates no Rule 10b5-1 trading plan is reported for the transactions disclosed in this Form 4.

What is the role of the Matlin Family Trust 2020 in David J. Matlin’s Clene Inc. (CLNN) holdings?

The 7,500 shares reported as indirect ownership are held by the Matlin Family Trust 2020. David J. Matlin is the trustee, and the filing states the shares may be beneficially owned by him.

How was the Clene Inc. (CLNN) direct issuance to David J. Matlin authorized?

The issuance of 434,451 shares to David J. Matlin in the registered direct offering was approved by Clene Inc.’s board of directors in accordance with Rule 16(b)-3 of the Securities Exchange Act of 1934, as amended.

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

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Available on EDGAR 09/18/2026 - 01:43 PM Accepted by SEC EDGAR 09/18/2026 - 01:42 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^*

MATLIN DAVID J

(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		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		434,451	A	$3.28	912,275	D(1)
common stock								7,500	I	By trust(2)

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. Mr. Matlin purchased 434,451 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 the Matlin Family Trust 2020. Mr. Matlin is the trustee of the Matlin Family Trust 2020. The shares owned by the Matlin Family Trust 2020 may be beneficially owned by Mr. Matlin.

	/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)