Equillium director granted 70,000 stock options

Equillium, Inc. director Barbara Troupin received a grant of options to purchase 70,000 shares of common stock at an exercise price of $2.84 per share.

Accepted by SEC EDGAR 05/29/2026 - 06:10 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Equillium, Inc. director Barbara Troupin received a grant of options to purchase 70,000 shares of common stock at an exercise price of $2.84 per share. These director stock options vest in twelve equal monthly installments starting on May 28, 2026 and will be fully vested no later than the issuer's next annual stockholder meeting following the grant date. After this grant, Troupin holds 70,000 derivative securities directly.

Insider Trade Summary

Grant/Award: 70,000 shares

Grant/Award 1 txn

Insider Troupin Barbara

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)

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 options Exercise price: $2.84 per share Expiration date: May 27, 2036 +1 more

4 metrics

Option grant size 70,000 options Director stock option grant to Barbara Troupin

Exercise price $2.84 per share Exercise price for director stock options

Expiration date May 27, 2036 Option expiration for 70,000-share grant

Post-grant derivative holdings 70,000 derivative securities Total options held following the reported transaction

Key Terms

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

5 terms

Director Stock Option financial

"Director Stock Option (right to buy)"

grant/award acquisition financial

"transaction_action: grant/award acquisition"

vests in twelve equal monthly installments financial

"The option vests in twelve equal monthly installments"

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.

expiration date financial

"expiration_date: 2036-05-27"

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 did Equillium (EQ) director Barbara Troupin report in this Form 4?

Barbara Troupin reported receiving a grant of options for 70,000 Equillium common shares. The options are a compensation-related award, not an open-market purchase, and give her the right to buy stock at a fixed exercise price of $2.84 per share.

What are the key terms of Barbara Troupin’s Equillium (EQ) stock option grant?

The grant covers 70,000 director stock options with an exercise price of $2.84 per share. The options relate to Equillium common stock and expire on May 27, 2036, providing long-term potential equity exposure if the options become fully vested and are exercised.

How do Barbara Troupin’s Equillium (EQ) options vest according to the Form 4?

The options vest in twelve equal monthly installments starting on May 28, 2026. Regardless of the monthly schedule, the award will be fully vested on the date of Equillium’s annual meeting of stockholders that follows the grant date, if that occurs earlier.

Is Barbara Troupin buying or selling Equillium (EQ) shares in this Form 4?

She is not buying or selling shares in the market; she received an option grant. The Form 4 records a compensation-related acquisition of 70,000 stock options, giving her the right to purchase Equillium common stock at $2.84 if she chooses to exercise.

How many Equillium (EQ) derivative securities does Barbara Troupin hold after this transaction?

After this transaction, she holds 70,000 derivative securities related to Equillium common stock. These represent the full amount of the reported option grant and are held directly, subject to the vesting schedule and the stated expiration date in 2036.

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

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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^*

Troupin Barbara

(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)
			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
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/ Bruce Steel, 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)