LeonaBio director granted 28,000 stock options

LeonaBio, Inc. reported a Form 4 showing an option grant related to director compensation.

Rhea-AI Filing Summary

LeonaBio, Inc. reported a Form 4 showing an option grant related to director compensation. Entities associated with director Joseph Edelman received a stock option covering 28,000 shares of common stock at an exercise price of $8.35 per share. The option vests on the earlier of June 23, 2027 or the day before the next annual stockholder meeting after June 22, 2026, and expires on June 22, 2036. The grant was made under LeonaBio’s Outside Director Compensation Policy, with Perceptive entities having an indirect pecuniary interest through a management fee offset and disclaiming beneficial ownership except to that extent.

Insider Trade Summary

Grant/Award: 28,000 shares

Grant/Award 1 txn

Insider PERCEPTIVE ADVISORS LLC, EDELMAN JOSEPH, PERCEPTIVE LIFE SCIENCES MASTER FUND LTD

Role Director, 10% Owner | Director, 10% Owner | Director, 10% Owner

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	28,000	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 28,000 contracts (Indirect, See footnote)

Footnotes (2)

1. F1. The shares subject to the option will vest on the earlier of (i) June 23, 2027, or (ii) the day immediately before the date of the next annual meeting of the Issuer's stockholders that occurs after June 22, 2026. The option reported was granted pursuant to the terms of the Issuer's Outside Director Compensation Policy.
2. F2. Joseph Edelman ("Mr. Edelman") is the managing member of Perceptive Advisors LLC (the "Advisor"). The Advisor serves as the investment manager of Perceptive Life Sciences Master Fund Ltd. (the "Master Fund"). The Advisor may be deemed to have an indirect pecuniary interest in the securities reported herein because the Advisor has the right to receive the director compensation provided in respect of Mr. Edelman's board service through a partial management fee offset. Each of the Master Fund and the Advisor disclaim, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of its indirect pecuniary interest therein, and this report shall not be deemed an admission that either the Master Fund or the Advisor is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Key Figures

Option grant size: 28,000 shares Exercise price: $8.35 per share Expiration date: June 22, 2036 +1 more

4 metrics

Option grant size 28,000 shares Stock option covering LeonaBio common stock

Exercise price $8.35 per share Strike price for the stock option grant

Expiration date June 22, 2036 Option term end date

Vesting date trigger Earlier of June 23, 2027 or pre-next annual meeting Option vesting schedule conditions

Key Terms

Stock Option (Right to Buy), Outside Director Compensation Policy, indirect pecuniary interest, beneficial ownership, +1 more

5 terms

Stock Option (Right to Buy) financial

"security_title: Stock Option (Right to Buy)"

Outside Director Compensation Policy financial

"The option reported was granted pursuant to the terms of the Issuer's Outside Director Compensation Policy"

indirect pecuniary interest financial

"The Advisor may be deemed to have an indirect pecuniary interest in the securities reported herein"

beneficial ownership regulatory

"disclaim, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Section 16 of the Securities Exchange Act of 1934 regulatory

"for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities"

A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LeonaBio (LONA) report in this Form 4?

LeonaBio reported a grant of stock options covering 28,000 shares of common stock to entities tied to director Joseph Edelman. The options were issued as part of the company’s Outside Director Compensation Policy for his board service.

What is the exercise price and size of the LeonaBio (LONA) option grant?

The option grant covers 28,000 shares of LeonaBio common stock at an exercise price of $8.35 per share. This means the holder may buy shares at $8.35 once the options vest, regardless of future market price.

When do the LeonaBio (LONA) director stock options vest and expire?

The options vest on the earlier of June 23, 2027, or the day before LeonaBio’s next annual stockholder meeting held after June 22, 2026. They expire on June 22, 2036, if not exercised before that date.

Who holds the LeonaBio (LONA) options reported in this filing?

The options are held indirectly through Perceptive Advisors LLC and Perceptive Life Sciences Master Fund Ltd, which are associated with director Joseph Edelman. These entities may have an indirect pecuniary interest through a management fee offset mechanism.

Is this LeonaBio (LONA) Form 4 a market purchase or sale of shares?

No, this Form 4 shows a compensation-related stock option grant, not an open-market buy or sell. The options were awarded for board service, with a zero-dollar grant price and a fixed $8.35 per share exercise price for future exercise.

How do Perceptive entities describe their ownership in this LeonaBio (LONA) filing?

Perceptive Life Sciences Master Fund Ltd and Perceptive Advisors LLC disclaim beneficial ownership of the reported securities, except for their indirect pecuniary interest. They note that compensation is received via a partial management fee offset tied to Joseph Edelman’s board role.

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

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Accepted by SEC EDGAR 07/09/2026 - 06:48 PM Learn about SEC filing dates

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^*

PERCEPTIVE ADVISORS LLC

(Last) (First) (Middle)

51 ASTOR PLACE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10003

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LeonaBio, Inc. [ LONA ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2026

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

	Form filed by One Reporting Person
X	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
Stock Option (Right to Buy)	$8.35	06/23/2026		A		28,000		(1)	06/22/2036	Common Stock	28,000	$0	28,000	I	See footnote(2)

1. Name and Address of Reporting Person^*

PERCEPTIVE ADVISORS LLC

(Last) (First) (Middle)

51 ASTOR PLACE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10003

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

EDELMAN JOSEPH

(Last) (First) (Middle)

51 ASTOR PL, 10TH FL

(Street)

NEW YORK NEW YORK 10003

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

PERCEPTIVE LIFE SCIENCES MASTER FUND LTD

(Last) (First) (Middle)

51 ASTOR PLACE, 10TH FLOOR

(Street)

NEW YORK NEW YORK 10003

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The shares subject to the option will vest on the earlier of (i) June 23, 2027, or (ii) the day immediately before the date of the next annual meeting of the Issuer's stockholders that occurs after June 22, 2026. The option reported was granted pursuant to the terms of the Issuer's Outside Director Compensation Policy.

2. Joseph Edelman ("Mr. Edelman") is the managing member of Perceptive Advisors LLC (the "Advisor"). The Advisor serves as the investment manager of Perceptive Life Sciences Master Fund Ltd. (the "Master Fund"). The Advisor may be deemed to have an indirect pecuniary interest in the securities reported herein because the Advisor has the right to receive the director compensation provided in respect of Mr. Edelman's board service through a partial management fee offset. Each of the Master Fund and the Advisor disclaim, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of its indirect pecuniary interest therein, and this report shall not be deemed an admission that either the Master Fund or the Advisor is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

	/s/ Joseph Edelman - for Perceptive Advisors LLC, By: Joseph Edelman, its managing member	07/09/2026
	/s/ Joseph Edelman - for Perceptive Life Sciences Master Fund Ltd., By: Perceptive Advisors LLC, its investment manager, By: Joseph Edelman, its managing member	07/09/2026
	/s/ Joseph Edelman	07/09/2026
	** 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)