Cyclerion CEO exercises 55,849 options at $3.30

Cyclerion Therapeutics, Inc. reported that President and Chief Executive Officer Regina Margaret Graul exercised an employee stock option for 55,849 shares of common stock at $3.30 per share on August 14, 2026.

Rhea-AI Filing Summary

Cyclerion Therapeutics, Inc. reported that President and Chief Executive Officer Regina Margaret Graul exercised an employee stock option for 55,849 shares of common stock at $3.30 per share on August 14, 2026. The option, originally granted on August 5, 2024 under the 2019 Equity Incentive Plan, had its remaining unvested portion fully accelerated by the board on July 17, 2026. The exercise was completed as a cashless exercise, with options to purchase 48,629 shares forfeited to Cyclerion as payment of the full exercise price, and the reported option position reduced to zero following the transaction.

Insider Trade Summary

55,849 shares exercised/converted

Exercise 3 txns

Insider Graul Regina Margaret

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Option to Purchase F1	55,849	$0.00	$0.00
Exercise	Common Stock, no par value F1	55,849	$3.30	$184K
Exercise Price Payment	Common Stock, no par value F2	48,629	$3.79	$184K

Holdings After Transaction: Option to Purchase — 0 contracts (Direct); Common Stock, no par value — 107,523 shares (Direct)

Footnotes (2)

1. F1. The Reporting Person was granted an option on August 5, 2024 to purchase up to 55,849 shares of the Corporation's common stock pursuant to the 2019 Equity Incentive Plan, vesting ratably in monthly installments over a 48-month period commencing August 31, 2024 and ending July 31, 2028, provided that the Reporting Person remained employed by Cyclerion Therapeutics, Inc. on such applicable vesting date, subject to certain exemptions. On July 17, 2026, the Issuer's Board of Directors elected to accelerate in full the vesting of all then unvested options and all then unvested restricted shares for the Reporting Person.
2. F2. The Reporting Person exercised the option in full on August 14, 2026 and paid for the exercise by means of a cashless exercise, forfeiting options to purchase 48,629 shares as payment to the Issuer for the full exercise price.

Key Figures

Option shares exercised: 55,849 shares Option exercise price: $3.30 per share Shares forfeited for exercise payment: 48,629 shares +3 more

6 metrics

Option shares exercised 55,849 shares Employee stock option for Cyclerion common stock exercised on August 14, 2026

Option exercise price $3.30 per share Exercise or conversion price of the 55,849-share stock option

Shares forfeited for exercise payment 48,629 shares Options to purchase these shares forfeited as payment for the full exercise price

Original option grant size 55,849 shares Option granted August 5, 2024 under the 2019 Equity Incentive Plan

Vesting period 48 months Monthly vesting from August 31, 2024 through July 31, 2028 before acceleration

Vesting acceleration date July 17, 2026 Board accelerated all then unvested options and restricted shares for the reporting person

Key Terms

cashless exercise, 2019 Equity Incentive Plan, vesting ratably, restricted shares, +1 more

5 terms

cashless exercise financial

"paid for the exercise by means of a cashless exercise, forfeiting options"

A cashless exercise is a way for an option holder to convert stock options into actual shares without paying the purchase price in cash; instead they immediately give up a portion of the newly issued shares to cover the cost and any withholding taxes. Investors care because this process increases the number of shares available and can slightly dilute existing holdings, while also signaling how insiders or employees are realizing compensation without needing cash — similar to paying for a purchase by handing over part of what you just bought.

2019 Equity Incentive Plan financial

"purchase up to 55,849 shares ... pursuant to the 2019 Equity Incentive Plan"

vesting ratably financial

"vesting ratably in monthly installments over a 48-month period"

restricted shares financial

"accelerate in full the vesting of all then unvested options and all then unvested restricted shares"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

exercise price financial

"forfeiting options to purchase 48,629 shares as payment ... for the full exercise price"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

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

What did CYCN CEO Regina Graul report in this Form 4 transaction?

Regina Graul exercised an employee stock option for 55,849 CYCN shares at $3.30 per share on August 14, 2026. The transaction reflects an option exercise and related share forfeiture, not an open-market purchase or sale of Cyclerion common stock.

How was the CYCN option exercise by Regina Graul paid for?

The option exercise was paid via a cashless exercise, using options to purchase 48,629 shares as payment to Cyclerion. Those options were forfeited to cover the full exercise price instead of Graul paying cash to the company.

What were the terms of the CYCN stock option exercised by Regina Graul?

The option granted August 5, 2024 covered 55,849 shares of Cyclerion common stock at an exercise price of $3.30 per share. It vested in equal monthly installments over 48 months, from August 31, 2024 through July 31, 2028, before being fully accelerated.

Why were Regina Graul’s CYCN option vesting terms changed before exercise?

On July 17, 2026, Cyclerion’s board accelerated in full all then unvested options and restricted shares for Regina Graul. This acceleration allowed her to exercise the entire 55,849-share option earlier than the original monthly vesting schedule.

Did Regina Graul sell CYCN shares on the market in this Form 4?

The filing describes an option exercise and a share forfeiture to pay the exercise price, not an open-market sale. Code F shares were delivered back to Cyclerion as payment, rather than sold through a broker or public transaction.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/18/2026 - 05:21 PM EDT Accepted by SEC EDGAR 08/18/2026 - 05:21 PM EDT 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^*

Graul Regina Margaret

(Last) (First) (Middle)

C/O CYCLERION THERAPEUTICS, INC.

245 FIRST STREET, 18TH FLOOR

(Street)

CAMBRIDGE MASSACHUSETTS 02142

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Cyclerion Therapeutics, Inc. [ CYCN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2026

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, no par value	08/14/2026		M(1)		55,849	A	$3.3	156,152	D
Common Stock, no par value	08/14/2026		F(2)		48,629	D	$3.79	107,523	D

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
Option to Purchase	$3.3	08/14/2026		M(1)			55,849	(1)	08/03/2034	Common Stock	55,849	$0	0	D

Explanation of Responses:

1. The Reporting Person was granted an option on August 5, 2024 to purchase up to 55,849 shares of the Corporation's common stock pursuant to the 2019 Equity Incentive Plan, vesting ratably in monthly installments over a 48-month period commencing August 31, 2024 and ending July 31, 2028, provided that the Reporting Person remained employed by Cyclerion Therapeutics, Inc. on such applicable vesting date, subject to certain exemptions. On July 17, 2026, the Issuer's Board of Directors elected to accelerate in full the vesting of all then unvested options and all then unvested restricted shares for the Reporting Person.

2. The Reporting Person exercised the option in full on August 14, 2026 and paid for the exercise by means of a cashless exercise, forfeiting options to purchase 48,629 shares as payment to the Issuer for the full exercise price.

Remarks:

President and Chief Executive Officer

	/s/ Regina Margaret Graul	08/18/2026
	** 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)