[Form 4] Clene Inc. Insider Trading Activity

Rhea-AI Filing Summary

Mark Mortenson, Chief Science Officer of Clene Inc. (CLNN / reported symbol CLNNW), was granted a stock option for 10,000 shares of common stock on 09/18/2025. The option has an exercise price of $6.32 per share, vests immediately upon grant, and expires on 09/17/2035. Following the grant, the filing reports beneficial ownership of 10,000 underlying shares attributable to the option. The Form 4 was signed by a power of attorney, Jerome T. Miraglia, on 09/19/2025. The filing indicates it was submitted by one reporting person and lists the reporting person’s Salt Lake City address.

Positive

• Grant clearly disclosed: the option grant specifies 10,000 options, $6.32 exercise price, grant date 09/18/2025, and expiration 09/17/2035.
• Immediate vesting: the options "vest immediately upon grant," removing future service vesting conditions.
• Form 4 timely itemization: transaction reported and signed (POA) on 09/19/2025 indicating regulatory compliance.

Negative

• None.

Insights

Securities Compensation Analyst

TL;DR: A 10,000-share option grant to the Chief Science Officer vests immediately at a $6.32 strike, expiring in 2035.

The grant of a non-derivative option for 10,000 shares at a $6.32 exercise price is documented clearly, with immediate vesting and a 10-year term to expiration (09/18/2025 grant, 09/17/2035 expiration). Immediate vesting removes future service-based forfeiture risk for the holder and can affect insider alignment and potential dilution depending on exercise. The Form 4 filing is routine and complies with Section 16 reporting: it discloses the reporting person's role as Chief Science Officer and shows beneficial ownership arising from the option. No cash transfer, exercises, dispositions, or other derivative instruments are reported.

Corporate Governance Specialist

TL;DR: The filing documents a standard executive option grant with immediate vesting; disclosure appears complete for the transaction.

The Form 4 identifies the reporting person and relationship to the issuer, provides transaction and grant dates, exercise price, quantity, and expiration, and is signed via POA. Immediate vesting is notable for governance because it accelerates insider ownership without time-based service conditions. The filing contains no indications of amendments, multiple reporting parties, or related-party transfers. As disclosed, the transaction is a routine equity compensation event rather than a corporate action affecting broader capital structure.

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^*

Mortenson Mark

(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 Science Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2025

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	$6.32	09/18/2025		A		10,000		(1)	09/17/2035	common stock	10,000	$0	10,000	D

Explanation of Responses:

1. This option was granted on September 18, 2025 as an option for 10,000 share of Common Stock under the Clene Inc. Amended 2020 Stock Plan at an exercise price of $6.32 per share. The options vest immediately upon grant.

	/s/ Jerome T. Miraglia POA	09/19/2025
	** 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 equity award did Clene Inc. insider Mark Mortenson report on Form 4 (CLNNW)?

The filing reports a stock option for 10,000 shares of common stock granted on 09/18/2025 with an exercise price of $6.32 per share.

When do the options reported by Mark Mortenson become exercisable and when do they expire?

The options vest immediately upon grant and expire on 09/17/2035.

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

The Form 4 reports beneficial ownership of 10,000 shares attributable to the option following the transaction.

Who signed the Form 4 for Mark Mortenson and when was it signed?

The Form 4 was signed by Jerome T. Miraglia as power of attorney on 09/19/2025.

What is Mark Mortenson’s role at Clene Inc. as stated in the filing?

The filing lists Mark Mortenson as the company's Chief Science Officer and indicates the form was filed by one reporting person.