Equillium director granted 70,000 stock options

Equillium, Inc. director Martha J. Demski received a grant of stock options covering 70,000 shares of common stock.

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Form Type

Rhea-AI Filing Summary

Equillium, Inc. director Martha J. Demski received a grant of stock options covering 70,000 shares of common stock. The options have an exercise price of $2.84 per share and were awarded as compensation, not purchased in the open market.

The option vests in twelve equal monthly installments starting on May 28, 2026, and will in any case be fully vested by the company’s next annual meeting of stockholders following the grant date. Following this grant, Demski holds derivative rights over 70,000 shares through this option award.

Insider Trade Summary

Grant/Award: 70,000 shares

Grant/Award 1 txn

Insider DEMSKI MARTHA J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Director Stock Option (right to buy)	70,000	$0.00	$0.00

Holdings After Transaction: Director Stock Option (right to buy) — 70,000 contracts (Direct)

Footnotes (1)

F1. The option vests in twelve equal monthly installments commencing on the grant date of May 28, 2026, provided that the option will, in any case, be fully vested on the date of the Issuer's annual meeting of stockholders following the grant date.

Key Figures

Option grant size: 70,000 shares Exercise price: $2.84 per share Expiration date: May 27, 2036 +2 more

5 metrics

Option grant size 70,000 shares Director stock option covering common stock

Exercise price $2.84 per share Conversion or exercise price of the option

Expiration date May 27, 2036 Option term end date

Shares underlying option 70,000 shares Underlying common stock for the option award

Total derivative shares after grant 70,000 shares Options held following the reported transaction

Key Terms

Director Stock Option, grant/award acquisition, exercise price, vests in twelve equal monthly installments, +1 more

5 terms

Director Stock Option financial

"Director Stock Option (right to buy)"

grant/award acquisition financial

"transaction_action: grant/award acquisition"

exercise price financial

"conversion_or_exercise_price: 2.8400"

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.

vests in twelve equal monthly installments financial

"The option vests in twelve equal monthly installments"

annual meeting of stockholders financial

"fully vested on the date of the Issuer's annual meeting of stockholders"

FAQ

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

What did Equillium (EQ) director Martha J. Demski report on this Form 4?

Martha J. Demski reported receiving a grant of stock options for 70,000 shares of Equillium common stock. The options are a compensation award, not an open-market trade, and give her the right to buy shares at a fixed exercise price.

How many Equillium (EQ) shares are covered by the new stock option grant?

The new director stock option covers 70,000 shares of Equillium common stock. This represents Demski’s entire reported derivative position in this filing, as total options held following the transaction are also listed as 70,000 shares.

What is the exercise price and term of Martha Demski’s Equillium (EQ) options?

The options have an exercise price of $2.84 per share and expire on May 27, 2036. This gives Demski the right to buy up to 70,000 shares at $2.84 any time before the expiration date, once the options are vested.

How do the Equillium (EQ) director options granted to Martha Demski vest?

The options vest in twelve equal monthly installments starting on the grant date of May 28, 2026. The award will in any case be fully vested on the date of Equillium’s annual meeting of stockholders following that grant date, whichever comes first.

Did Martha Demski buy or sell Equillium (EQ) shares in the market in this filing?

No market purchases or sales were reported in this filing. The Form 4 shows only a grant of director stock options with a transaction code A, indicating a grant, award, or other acquisition as part of compensation rather than an open-market trade.

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Accepted by SEC EDGAR 05/29/2026 - 06:27 PM

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^*

DEMSKI MARTHA J

(Last)

(First)

(Middle)

2223 AVENIDA DE LA PLAYA, SUITE 105

(Street)

LA JOLLA

CALIFORNIA

92037

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Equillium, Inc. [ EQ ]

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)
05/28/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Director Stock Option (right to buy)	$2.84	05/28/2026		A		70,000		⁽¹⁾	05/27/2036	Common Stock	70,000	$0	70,000	D

Explanation of Responses:

1. The option vests in twelve equal monthly installments commencing on the grant date of May 28, 2026, provided that the option will, in any case, be fully vested on the date of the Issuer's annual meeting of stockholders following the grant date.

	/s/ Daniel M. Bradbury, Attorney-in-Fact	05/29/2026
	** 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)

Source: View Original Filing on SEC EDGAR