[Form 4] Disc Medicine, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Disc Medicine (IRON): insider sale disclosed. AI DMI LLC, identified as a director and 10% owner, reported selling 744,047 shares of Disc Medicine common stock on October 22, 2025 at $80.47 per share. The sale was executed as part of an underwritten secondary offering.

Following this transaction, the reporting persons show beneficial ownership of 2,814,379 shares held directly. The filing notes Access Industries affiliates and Len Blavatnik may be deemed beneficial owners through control relationships, with each disclaiming beneficial ownership except to the extent of any pecuniary interest.

Insights

Equity Ownership Analyst

Large selling stockholder disposed shares via underwritten secondary; still holds a sizable stake.

AI DMI LLC, a reporting person designated as a Director and 10% Owner of Disc Medicine, Inc. (ticker IRON), sold 744,047 common shares on 10/22/2025 at $80.47 per share. The transaction is coded S and was executed pursuant to an underwritten secondary offering. Following the sale, the filer reports beneficial ownership of 2,814,379 shares, held directly.

The filing lists related reporting persons—Access Industries Holdings LLC, Access Industries Management, LLC, and Len Blavatnik—with standard control relationships disclosed. Each such person disclaims beneficial ownership beyond pecuniary interest, which is typical in group filings.

Key considerations: this was a registered secondary sale by an existing holder, not an issuance by the company. The filer retains a significant position, which indicates continuing exposure. Watch for additional Form 4s or registration-related activity that could alter ownership concentration. The reference date 10/22/2025 and the reported post-transaction amount provide clear baselines for tracking any further changes over the near term.

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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X

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^*

AI DMI LLC

(Last) (First) (Middle)

C/O ACCESS INDUSTRIES, INC.

40 WEST 57TH STREET, 28TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Disc Medicine, Inc. [ IRON ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/22/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	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	10/22/2025		S(1)		744,047(1)	D	$80.47	2,814,379	D(2)

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

1. Name and Address of Reporting Person^*

AI DMI LLC

(Last) (First) (Middle)

C/O ACCESS INDUSTRIES, INC.

40 WEST 57TH STREET, 28TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Access Industries Holdings LLC

(Last) (First) (Middle)

C/O ACCESS INDUSTRIES, INC.

40 WEST 57TH STREET, 28TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

ACCESS INDUSTRIES MANAGEMENT, LLC

(Last) (First) (Middle)

C/O ACCESS INDUSTRIES, INC.

40 WEST 57TH STREET, 28TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Blavatnik Len

(Last) (First) (Middle)

C/O ACCESS INDUSTRIES, INC.

40 WEST 57TH STREET, 28TH FLOOR

(Street)

NEW YORK NY 10019

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. On October 22, 2025, AI DMI LLC ("AI DMI") sold 744,047 shares of common stock of Disc Medicine, Inc., par value $0.0001 per share, pursuant to an underwritten secondary offering.

2. The securities reported are held directly by AI DMI and may be deemed to be beneficially owned by Access Industries Holdings LLC ("AIH"), Access Industries Management, LLC ("AIM") and Len Blavatnik because Len Blavatnik controls AIM and holds a majority of the outstanding voting interests in AIH, AIM controls AIH, and AIH indirectly controls all of the outstanding voting interests in AI DMI LLC. Each of the reporting persons (other than AI DMI) disclaims beneficial ownership of these securities, except to the extent of its or his pecuniary interest therein, and this form shall not be construed as an admission that any such reporting person is the beneficial owner of any of the securities reported on this form.

	/s/ Alejandro Moreno for AI DMI LLC	10/24/2025
	/s/ Alejandro Moreno for Access Industries Holdings LLC	10/24/2025
	/s/ Alejandro Moreno for Access Industries Management, LLC	10/24/2025
	/s/ Alejandro Moreno as Attorney-in-Fact for Mr. Blavatnik	10/24/2025
	** Signature of Reporting Person	Date
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