Kiniksa (KNSA) Director Executes Options, Sells Shares at ~$32–$33

Rhea-AI Filing Summary

Insider transactions by Thomas Malley, a director of Kiniksa Pharmaceuticals International, plc (KNSA) are reported for August 12–14, 2025. The Form 4 shows multiple option exercises and open-market sales. Mr. Malley exercised stock options at strike prices ranging from $1.86 to $15.47, converting options into Class A ordinary shares. The filing reports open-market sales totaling 207,898 shares sold across three days at weighted-average sale prices in the low $30s (individual weighted averages reported at $32.4, $33.32 and $33.09). After these transactions, Mr. Malley directly beneficially owned 12,546 Class A shares and indirectly beneficially owned 71,967 shares through Mossrock Capital, LLC. The filing notes all reported options are fully vested and exercisable and includes broker execution price ranges for the sales.

Positive

• None.

Negative

• Large open-market sales: Reporting person sold a significant number of shares across 08/12/2025–08/14/2025 totaling 207,898 shares at weighted-average prices reported in the low $30s.
• Reduced direct ownership: After transactions, direct beneficial ownership falls to 12,546 Class A ordinary shares, which may be viewed negatively by some investors.
• Concentrated timing: Multiple sales occurred immediately after option exercises over a three-day window, which can raise questions about the timing and motive for liquidity.

Insights

Corporate Governance Expert

Director sold a large block of shares following option exercises; creates governance and signaling questions for investors.

The filing documents substantial open-market sales by a company director executed immediately after exercising vested options. Sales of over 200,000 shares at weighted-average prices in the low $30s materially reduce the director's direct stake to 12,546 shares while leaving indirect holdings via Mossrock Capital, LLC. From a governance perspective, clustered insider sales tied to option exercises can be routine liquidity events but may also be perceived negatively by market participants unless accompanied by an explanation. The filing provides execution price ranges and confirms options were fully vested, which supports the mechanics of the transactions but does not explain timing or purpose.

Securities Analyst

Substantial exercised options and subsequent sales increased free float; impact depends on context and company size.

The report shows multiple option exercises across six strike prices from $1.86 to $15.47, with corresponding open-market sales at ~ $32–$33 per share. The exercised option amounts listed in Table II total 157,769 underlying shares and the reported non-derivative sales aggregate 207,898 shares across three trading dates. These transactions elevated supply sold into the market and left the reporting person with limited direct ownership but meaningful indirect holdings through Mossrock. Without company-wide share count context or concurrent corporate developments, the market impact is ambiguous; the activity is material in absolute terms but its effect on valuation requires total outstanding shares and trading volume data not present in this filing.

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
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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).

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^*

Malley Thomas

(Last) (First) (Middle)

23 OLD BOND STREET, THIRD FLOOR

(Street)

LONDON X0 W1S 4PZ

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Kiniksa Pharmaceuticals International, plc [ KNSA ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

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
Class A Ordinary Shares	08/12/2025		M		21,959	A	$1.86	34,505	D
Class A Ordinary Shares	08/12/2025		M		27,448	A	$3.8	61,953	D
Class A Ordinary Shares	08/12/2025		S		49,407	D	$32.4(1)	12,546	D
Class A Ordinary Shares	08/13/2025		M		20,129	A	$10.36	32,675	D
Class A Ordinary Shares	08/13/2025		M		30,000	A	$9.88	62,675	D
Class A Ordinary Shares	08/13/2025		S		50,129	D	$33.32(2)	12,546	D
Class A Ordinary Shares	08/14/2025		M		18,760	A	$15.47	31,306	D
Class A Ordinary Shares	08/14/2025		M		33,237	A	$14.33	64,543	D
Class A Ordinary Shares	08/14/2025		M		26,236	A	$15.19	90,779	D
Class A Ordinary Shares	08/14/2025		S		78,233	D	$33.09(3)	12,546	D
Class A Ordinary Shares								71,967	I	See footnote(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Share Option	$1.86	08/12/2025		M			21,959	(5)	12/06/2026	Class A Ordinary Shares	21,959	$0	0	D
Share Option	$3.8	08/12/2025		M			27,448	(5)	06/28/2027	Class A Ordinary Shares	27,448	$0	0	D
Share Option	$10.36	08/13/2025		M			20,129	(5)	02/29/2028	Class A Ordinary Shares	20,129	$0	0	D
Share Option	$9.88	08/13/2025		M			30,000	(5)	06/28/2032	Class A Ordinary Shares	30,000	$0	0	D
Share Option	$15.47	08/14/2025		M			18,760	(5)	05/28/2029	Class A Ordinary Shares	18,760	$0	0	D
Share Option	$14.33	08/14/2025		M			33,237	(5)	06/28/2031	Class A Ordinary Shares	33,237	$0	0	D
Share Option	$15.19	08/14/2025		M			26,236	(5)	06/04/2033	Class A Ordinary Shares	26,236	$0	0	D

Explanation of Responses:

1. This transaction was executed in multiple trades through a broker-dealer at prices ranging between $32.06 and $32.685. The price reported in this column reflects a weighted average sales price. Upon request, the reporting person will provide to the SEC staff full information regarding the number of Shares sold at each price.

2. This transaction was executed in multiple trades through a broker-dealer at prices ranging between $33.1301 and $33.50. The price reported in this column reflects a weighted average sales price. Upon request, the reporting person will provide to the SEC staff full information regarding the number of Shares sold at each price.

3. This transaction was executed in multiple trades through a broker-dealer at prices ranging between $32.82 and $33.41. The price reported in this column reflects a weighted average sales price. Upon request, the reporting person will provide to the SEC staff full information regarding the number of Shares sold at each price.

4. Mr. Malley is the president of Mossrock Capital, LLC (Mossrock) and may be deemed to beneficially own the shares owned by Mossrock.

5. The option is fully vested and exercisable.

	/s/ Madelyn Zeylikman, Attorney-in-Fact	08/14/2025
	** 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).
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FAQ

What transactions did Thomas Malley (KNSA) report on Form 4?

He exercised multiple vested stock options and sold shares in open-market transactions between 08/12/2025 and 08/14/2025.

How many KNSA shares were sold by the reporting person and at what prices?

207,898 shares were sold across the reported dates at weighted-average sale prices reported at $32.4, $33.32, and $33.09 (with execution ranges provided in the filing).

What is Thomas Malley’s ownership in Kiniksa after these transactions?

Directly owns 12,546 Class A ordinary shares and indirectly beneficially owns 71,967 shares through Mossrock Capital, LLC, per the filing.

Were the options exercised by Malley vested and exercisable?

Yes. The filing states each reported option is fully vested and exercisable.

Are price details for the sales available?

Yes. The filing provides weighted-average prices for reported sales and discloses execution price ranges for each sale in the explanation section.