[144] 4D Molecular Therapeutics, Inc. SEC Filing

Rhea-AI Filing Summary

4D Molecular Therapeutics (FDMT) Form 144: The filing notifies a proposed sale of 7,312 common shares with an aggregate market value of $54,108.80, to be sold on or about 09/23/2025 on NASDAQ through Morgan Stanley Smith Barney LLC. The filing lists total outstanding shares of 46,702,467, which places the proposed sale at a de minimis percentage of the outstanding float. The shares were acquired in two transactions: 4,905 shares from an exercise of stock options on 09/23/2025 and 2,407 shares through the employee stock purchase plan on 11/14/2022; payment was in cash. No other sales in the past three months were reported. The filer certifies no undisclosed material adverse information at the time of signing.

Positive

• Full compliance with Rule 144 disclosure including broker, acquisition dates, and payment method
• Small sale size (7,312 shares, $54,108.80) relative to 46,702,467 outstanding shares, implying minimal market impact
• Clear acquisition provenance: shares acquired via option exercise (4,905) and ESPP (2,407)

Negative

• None.

Insights

Securities Analyst

TL;DR: Small, routine insider sale disclosed; immaterial to capitalization.

The Form 144 reports a proposed transfer of 7,312 common shares ($54,108.80)—about 0.0157% of the reported 46.7 million outstanding shares—via a brokered sale on NASDAQ. The holdings were acquired through option exercise and an employee purchase plan, with cash payment. From a market-impact perspective, the size is negligible and consistent with routine post-exercise disposition; it does not indicate a material change to the companys capital structure or immediate dilution. Filing meets Rule 144 disclosure requirements and provides necessary transaction provenance.

Corporate Governance Expert

TL;DR: Proper compliance disclosure; no governance red flags evident from this filing alone.

The notice identifies the broker, class, acquisition dates, and payment method, and confirms no sales in the prior three months. The mix of option exercise and ESPP shares is typical for employee/insider holdings being liquidated. The representation regarding absence of undisclosed material adverse information is standard. There is no evidence in the filing of unusual timing, large volumes, or plan-based trading instructions disclosed here that would raise governance concerns.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
COMMON	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	7312	54108.80	46702467	09/23/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/23/2025	Exercise of Stock Options	Issuer			4905	09/23/2025	Cash
Common	11/14/2022	Employee Stock Purchase Plan	Issuer			2407	11/14/2022	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the FDMT Form 144 disclose?

The filing discloses a proposed sale of 7,312 common shares with aggregate market value of $54,108.80, to be sold on or about 09/23/2025 on NASDAQ through Morgan Stanley Smith Barney LLC.

How were the shares being sold acquired?

The shares were acquired via exercise of stock options (4,905 shares on 09/23/2025) and an employee stock purchase plan (2,407 shares on 11/14/2022); payment was in cash.

Does the filing report other sales in the past three months for the seller?

The filing states "Nothing to Report" for securities sold during the past three months.

Who is the broker and which exchange will handle the sale?

The listed broker is Morgan Stanley Smith Barney LLC and the sale is to be executed on NASDAQ.

How material is this sale relative to FDMT's outstanding shares?

The sale of 7,312 shares versus 46,702,467 outstanding shares represents a very small percentage of the outstanding shares, suggesting minimal capitalization impact.