Milestone Pharmaceuticals (MIST) director receives grant of 77,000 stock options

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Milestone Pharmaceuticals Inc. director Joseph C. Papa received a grant of stock options covering 77,000 shares of common stock. The options have an exercise price of $1.22 per share and expire on June 10, 2036. They vest in twelve equal monthly installments beginning on July 10, 2026, or will in any case be fully vested by the date of the next annual meeting of stockholders, as long as he continues providing service. Following this grant, he holds 77,000 options directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider PAPA JOSEPH C

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	77,000	$0.00	--

Holdings After Transaction: Stock Option (right to buy) — 77,000 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

Options granted: 77,000 options Exercise price: $1.22 per share Expiration date: June 10, 2036 +2 more

5 metrics

Options granted 77,000 options Stock option grant to director Joseph C. Papa

Exercise price $1.22 per share Stock option exercise price for 77,000 underlying shares

Expiration date June 10, 2036 Option term end for this grant

Vesting start July 10, 2026 First of twelve equal monthly vesting dates

Total options after grant 77,000 options Total held directly by Joseph C. Papa following this transaction

Key Terms

Stock Option (right to buy), exercise price, vesting, annual meeting of the stockholders, +1 more

5 terms

Stock Option (right to buy) financial

"security_title: "Stock Option (right to buy)""

exercise price financial

"conversion_or_exercise_price: "1.2200""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

vesting financial

"This option will vest in twelve (12) equal monthly installments"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

annual meeting of the stockholders financial

"fully vested on the date of next annual meeting of the stockholders"

Common Stock financial

"underlying_security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

06/12/2026 - 04:15 PM

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^*

PAPA JOSEPH C

(Last)

(First)

(Middle)

C/O MILESTONE PHARMACEUTICALS INC.

1111 DR. FREDERIK-PHILIPS BLVD, STE 420

(Street)

MONTREAL

H4M 2X6

(City)

(State)

(Zip)

QUEBEC, CANADA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Milestone Pharmaceuticals Inc. [ MIST ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

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

X	Form filed by One Reporting Person
	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$1.22	06/10/2026		A		77,000		⁽¹⁾	06/10/2036	Common Stock	77,000	$0	77,000	D

Explanation of Responses:

1. This option will vest in twelve (12) equal monthly installments, beginning on July 10, 2026, provided that the option will in any case be fully vested on the date of next annual meeting of the stockholders of the Issuer, subject to the Reporting Person continuing to provide service through each such vesting date.

	/s/ Joseph Oliveto, Attorney-in-Fact	06/12/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Milestone Pharmaceuticals (MIST) director Joseph C. Papa report on this Form 4?

Joseph C. Papa reported receiving a grant of stock options for 77,000 shares of Milestone Pharmaceuticals common stock. These options are a compensation award and do not represent an open-market purchase or sale of existing shares.

What are the key terms of Joseph C. Papa’s stock options from Milestone Pharmaceuticals (MIST)?

The options cover 77,000 shares of common stock at an exercise price of $1.22 per share. They expire on June 10, 2036, giving a long window during which the director may choose to exercise the options.

How do Joseph C. Papa’s Milestone Pharmaceuticals (MIST) options vest?

The option grant vests in twelve equal monthly installments starting on July 10, 2026. However, it will in any case be fully vested by the date of the next annual stockholder meeting, assuming he continues providing service through each vesting date.

How many Milestone Pharmaceuticals (MIST) options does Joseph C. Papa hold after this transaction?

After this grant, Joseph C. Papa holds 77,000 stock options directly. This figure reflects the total options reported following the transaction in the Form 4 and represents his current position from this specific grant.

Is Joseph C. Papa’s Milestone Pharmaceuticals (MIST) Form 4 a stock purchase or sale?

The Form 4 reports a grant of stock options as compensation, not a market purchase or sale. The transaction is coded as an acquisition (grant/award), with no shares bought or sold in the open market.