Cyclerion director awarded options on 48,445 shares

A Cyclerion Therapeutics director received a new multi-year stock option grant for 48,445 shares vesting monthly through 2029.

Rhea-AI Filing Summary

Cyclerion Therapeutics, Inc. (CYCN) reported that director Michelle Patricia Pernice received a grant of stock options covering 48,445 shares of common stock on September 9, 2026. The options have an exercise price of $26.20 per share, vest in equal monthly installments through September 9, 2029, and expire on September 9, 2036. Following this grant, she holds options on 48,445 shares directly, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Grant/Award: 48,445 shares

Grant/Award 1 txn

Insider Pernice Michelle Patricia

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy) F1	48,445	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 48,445 contracts (Direct)

Footnotes (1)

1. F1. This option represents the right to purchase 48,445 shares of the Issuer's common stock and will vest in equal monthly installments through September 9, 2029, subject to the Reporting Person's continued service to the Issuer on each such vesting date.

Key Figures

Option shares granted: 48,445 shares Exercise price: $26.20 per share Options held after transaction: 48,445 shares +2 more

5 metrics

Option shares granted 48,445 shares Stock option grant to director on September 9, 2026

Exercise price $26.20 per share Conversion or exercise price for the 48,445-share option grant

Options held after transaction 48,445 shares Total stock options directly held by the director following the grant

Option expiration date September 9, 2036 Expiration date of the granted stock options

Vesting end date September 9, 2029 Date through which the options vest in equal monthly installments

Key Terms

Stock Option (Right to Buy), exercise price, vesting, expiration date

4 terms

Stock Option (Right to Buy) financial

"security titled "Stock Option (Right to Buy)" granted to the director"

exercise price financial

"conversion or exercise price of 26.2000 stated for the option"

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.

vesting financial

"will vest in equal monthly installments through September 9, 2029"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

expiration date financial

"option carries an expiration date of 2036-09-09"

The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.

FAQ

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

What insider transaction was reported for CYCN in this Form 4?

The filing reports a grant of stock options for 48,445 shares of common stock to director Michelle Patricia Pernice on September 9, 2026, as compensation rather than a market purchase or sale.

What is the exercise price of the new stock options reported for CYCN?

The stock options have an exercise price of $26.20 per share, meaning the holder may buy common shares at $26.20 once the options vest and are exercised.

How do the CYCN options granted to the director vest over time?

The option to purchase 48,445 shares vests in equal monthly installments through September 9, 2029, conditioned on the director’s continued service on each vesting date.

When do the newly granted CYCN stock options expire?

The granted options expire on September 9, 2036. After this expiration date, any unexercised portion of the 48,445-share option grant will no longer be exercisable.

What are the director’s option holdings in CYCN after this transaction?

After the grant, the director holds stock options on 48,445 shares of common stock directly, as reported in the filing’s post-transaction holdings figure.

Were the CYCN insider transactions made under a Rule 10b5-1 trading plan?

No. The filing indicates that the Rule 10b5-1 checkbox is not marked, so no Rule 10b5-1 trading plan is reported in connection with this option grant.

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

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Available on EDGAR 09/10/2026 - 05:45 PM Accepted by SEC EDGAR 09/10/2026 - 05:45 PM 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^*

Pernice Michelle Patricia

(Last) (First) (Middle)

C/O KORSANA BIOSCIENCES, INC.

203 CRESCENT STREET, SUITE 503

(Street)

WALTHAM MASSACHUSETTS 02453

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Korsana Biosciences, Inc. [ KRSA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2026

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

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 (Right to Buy)	$26.2	09/09/2026		A		48,445		(1)	09/09/2036	Common Stock	48,445	$0	48,445	D

Explanation of Responses:

1. This option represents the right to purchase 48,445 shares of the Issuer's common stock and will vest in equal monthly installments through September 9, 2029, subject to the Reporting Person's continued service to the Issuer on each such vesting date.

	/s/ Mark Vignola, as attorney-in-fact for Michelle Pernice	09/10/2026
	** 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)