[Form 4] Clene Inc. Insider Trading Activity

Rhea-AI Filing Summary

Clene Inc. (CLNN) director Matthew Kiernan was granted a stock option on 08/14/2025 for 3,720 shares of common stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $3.60 per share. The option vests immediately upon grant, is exercisable now, and expires on 08/13/2035. Following the grant, the reporting person beneficially owns 3,720 shares via direct ownership. The Form 4 was signed by a power of attorney, Jerome T. Miraglia, on 08/15/2025.

Insights

Financial Analyst

TL;DR: Routine director equity grant of 3,720 options at $3.60; immediate vesting, 10-year term.

The filing documents a standard equity compensation event: a one-time grant of 3,720 options to a director, priced at $3.60 with immediate vesting and a 10-year expiration. This increases the director's direct potential equity stake by 3,720 shares if exercised. The disclosure is straightforward and contains no indications of additional cash transactions or sales.

Corporate Governance Expert

TL;DR: Governance disclosure is complete for the grant; immediate vesting is noted explicitly.

The Form 4 clearly states the grant terms and immediate vesting, and the signature was executed by a named POA. As filed, the disclosure meets Section 16 reporting requirements. The filing does not disclose any amendments or related-party arrangements beyond the director designation.

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^*

Kiernan Matthew

(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 option grant did CLNN director Matthew Kiernan receive?

He received an option for 3,720 shares at an exercise price of $3.60 per share granted on 08/14/2025.

When do the options granted to Matthew Kiernan vest and expire?

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

How many shares does the Form 4 show as beneficially owned after the transaction for CLNN?

The Form 4 reports 3,720 shares beneficially owned following the reported transaction.

Who signed the Form 4 for Matthew Kiernan and when?

The form was signed by Jerome T. Miraglia as power of attorney on 08/15/2025.

What is the relationship of the reporting person to CLNN?

The reporting person, Matthew Kiernan, is listed as a Director of Clene Inc.