Clene (CLNN) Form 4: 10,000-Share Option Grant to CFO at $6.05

Rhea-AI Filing Summary

Clene Inc. reporting person Morgan R. Brown, who is identified as an officer (Chief Financial Officer), was granted a stock option award on 09/25/2025 for 10,000 shares of common stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $6.05 per share. The award vests in 12 equal monthly installments starting 10/25/2025 until fully vested. The table lists the underlying common shares as 10,000 and shows the option term referencing 09/24/2035. The Form 4 reports the grant as an acquisition of derivative securities and indicates direct ownership following the grant of 10,000 options.

Positive

• Officer retention aligned: Grant vests monthly over 12 months, which supports near-term retention of the CFO
• Transparent disclosure: Form 4 documents the grant date, exercise price ($6.05), and number of options (10,000)

Negative

• Limited context for materiality: Filing does not disclose total outstanding shares or prior insider holdings, so dilution impact is unknown
• Short vesting schedule: Monthly vesting over one year may provide limited long-term alignment compared with multi-year vesting (disclosed as fact)

Insights

Financial Analyst

TL;DR: A routine executive equity grant: 10,000 options at $6.05 with monthly vesting over one year; modest, typical retention compensation.

The award is a standard option grant to the company's CFO under the 2020 Stock Plan. It vests monthly over 12 months, aligning short-term retention and incentive. The exercise price of $6.05 is explicitly stated. The option term references a 10-year horizon to 09/24/2035 as shown in the filing. Without outstanding share counts or prior insider holdings disclosed here, the absolute dilution or percentage impact cannot be determined from this Form 4 alone.

Corporate Governance Expert

TL;DR: Governance action appears routine: an officer-level equity grant with standard vesting, documented on Form 4.

The grant follows customary governance practice of documenting officer compensation-related equity transactions on Form 4. Monthly vesting over 12 installments is more front-loaded than multi-year cliffs but permissible under many plans. The filing identifies the reporting person as the CFO and reports direct beneficial ownership of the granted options. The filing does not include plan limits, prior grants, or aggregate insider holdings, so broader governance implications cannot be assessed solely from this document.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider BROWN MORGAN R

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	stock option	10,000	$0.00	--

Holdings After Transaction: stock option — 10,000 shares (Direct)

Footnotes (1)

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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^*

BROWN MORGAN R

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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	$6.05	09/25/2025		A		10,000		(1)	09/24/2035	common stock	10,000	$0	10,000	D

Explanation of Responses:

1. This option was granted on September 25, 2025 as an option for 10,000 shares of Common Stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $6.05 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	09/29/2025
	** 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 the Clene Inc. (CLNN) Form 4 report?

The Form 4 reports a grant of 10,000 stock options to reporting person Morgan R. Brown on 09/25/2025 under the Amended 2020 Stock Plan.

What is the exercise price and quantity of the options granted to the CFO?

10,000 options were granted with an exercise price of $6.05 per share.

When do the options vest and what is the option term?

The options vest in 12 equal monthly installments beginning 10/25/2025; the filing references 09/24/2035 in the option term fields.

Who is the reporting person and what is their role at CLNN?

The reporting person is listed as BROWN MORGAN R, identified on the form as an officer with the title Chief Financial Officer.

Does the filing state whether ownership is direct or indirect?

Yes; the Form 4 indicates direct (D) ownership for the 10,000 options reported following the transaction.