[Form 4] Clene Inc. Insider Trading Activity

Rhea-AI Filing Summary

Clene Inc. (CLNN) director Arjun J.J. Desai was granted a stock option for 4,278 shares on 08/14/2025 under the Clene Inc. Amended 2020 Stock Plan. The option has an exercise price of $3.60 per share, vests immediately upon grant, and is exercisable until its expiration on 08/13/2035. Following the grant, the reporting person beneficially owns 4,278 shares subject to this option, held directly. The Form 4 was filed as a single reporting person filing and signed by a power of attorney on 08/15/2025.

Insights

Corporate Governance Expert

TL;DR: Director received a small immediately-vested option award aligning incentives without additional disclosed dilutive impact.

The filing documents a single grant of 4,278 stock options to a company director at a $3.60 exercise price that vests immediately and expires in 2035. From a governance perspective, immediate vesting signals a grant intended as direct compensation or retention for a director rather than a long-term performance cliff. The disclosure is routine under Section 16 and contains clear terms: grant date, amount, exercise price, vesting, and expiration. The filing does not include company-wide dilution metrics or other insider transactions.

Securities Analyst

TL;DR: Single-option grant disclosed; transaction is routine and contains all standard Form 4 elements.

The Form 4 shows a non-derivative disclosure of an option grant converted into an equity position of 4,278 common shares. The report identifies the reporting person, relationship to the issuer as a director, and the use of a POA signature. All material fields required by Form 4 are present, including dates, price, and ownership after the transaction. No additional financial metrics, market prices, or other insider trades are disclosed here.

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^*

Desai Arjun JJ

(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		4,278		(1)	08/13/2035	common stock	4,278	$0	4,278	D

Explanation of Responses:

1. This option was granted on August 14, 2025 as an option for 4,278 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.