Equillium (EQ) COO Zedelmayer sells 185,937 shares after exercising stock options

Rhea-AI Filing Summary

Equillium, Inc. executive Christine Zedelmayer reported option exercises and related share sales in a Form 4. On February 19, 2026, she exercised employee stock options covering 109,375 and 76,562 shares, converting them into common stock at stated exercise prices.

On the same date, she sold 109,375 shares at $1.7814 per share and 76,562 shares at $1.7406 per share in open-market transactions. The filing states these sales were made under a Rule 10b5-1 trading plan adopted on August 27, 2025. After these transactions, she directly owned 191,444 shares of Equillium common stock.

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

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^*

Zedelmayer Christine

(Last) (First) (Middle)

2223 AVENIDA DE LA PLAYA, SUITE 105

(Street)

LA JOLLA CA 92037

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. Vice President and COO

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

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
Common Stock	02/19/2026		M		109,375	A	$0.785	300,819	D
Common Stock	02/19/2026		S(1)		109,375	D	$1.7814	191,444	D
Common Stock	02/19/2026		M		76,562	A	$0.73	268,006	D
Common Stock	02/19/2026		S(1)		76,562	D	$1.7406	191,444	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
Employee Stock Option (right to buy)	$0.785	02/19/2026		M			109,375	(2)	01/18/2032	Common Stock	109,375	$0	15,625	D
Employee Stock Option (right to buy)	$0.73	02/19/2026		M			76,562	(2)	01/01/2034	Common Stock	76,562	$0	98,438	D

Explanation of Responses:

1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 27, 2025.

2. Twenty-five percent of the shares subject to the option vested on the first anniversary of the vesting commencement date, and the remainder vests in 36 equal monthly installments thereafter for the following three years.

	/s/ Christine Zedelmayer	02/23/2026
	** 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).
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FAQ

What insider transactions did Equillium (EQ) executive Christine Zedelmayer report?

Christine Zedelmayer reported exercising stock options and selling Equillium shares. She converted option grants into common stock, then sold 109,375 shares and 76,562 shares in open-market trades on February 19, 2026, as disclosed in the Form 4 filing.

How many Equillium (EQ) shares did Christine Zedelmayer sell according to the Form 4?

The Form 4 shows Christine Zedelmayer sold a total of 185,937 Equillium common shares. These consisted of two open-market sales of 109,375 and 76,562 shares, executed on February 19, 2026, following the exercise of employee stock options into common stock.

At what prices were Christine Zedelmayer’s Equillium (EQ) share sales executed?

Her reported Equillium share sales were executed at $1.7814 and $1.7406 per share. The Form 4 indicates separate transactions on February 19, 2026, for 109,375 shares at $1.7814 and 76,562 shares at $1.7406 in open-market or private transactions.

What does the Equillium (EQ) Form 4 say about Christine Zedelmayer’s 10b5-1 trading plan?

The Form 4 states the reported sale was effected under a Rule 10b5-1 trading plan. This plan was adopted by Christine Zedelmayer on August 27, 2025, providing a pre-arranged framework for executing trades in Equillium stock at later dates.

How many Equillium (EQ) shares does Christine Zedelmayer own after these transactions?

Following the reported option exercises and share sales, Christine Zedelmayer directly owns 191,444 Equillium common shares. This post-transaction ownership figure is disclosed in the Form 4 as her direct holdings after the February 19, 2026 transactions.

What stock option activity did Christine Zedelmayer report for Equillium (EQ)?

She reported exercising employee stock options covering 109,375 and 76,562 shares. These option exercises converted derivative securities into Equillium common stock, with vesting described as 25% after one year and the balance vesting monthly over the subsequent three years.