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[Form 4] Milestone Pharmaceuticals Inc. Insider Trading Activity

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4
Insider Liebert Debra K.
Role Director
Type Security Shares Price Value
Grant/Award Series A Common Warrants (right to buy) 16,793 $0.00 --
Grant/Award Series B Common Warrants (right to buy) 16,793 $0.00 --
Grant/Award Common Shares 16,666 $0.00 --
holding Common Shares -- -- --
holding Common Shares -- -- --
Holdings After Transaction: Series A Common Warrants (right to buy) — 16,793 shares (Direct); Series B Common Warrants (right to buy) — 16,793 shares (Direct); Common Shares — 16,793 shares (Direct); Common Shares — 10,000 shares (Indirect, By: The Rodriguez and Liebert Revocable Trust)
Footnotes (1)
  1. The reported securities are included within 16,793 Issuer Units purchased by the Reporting Person for $1.50 per Unit. Each Unit consists of one common share, one Series A common warrant and one Series B common warrant, each warrant represents the right to purchase 16,793 shares of common stock. These shares are held in a trust for the benefit of several including the Reporting Person's spouse. The Reporting Person's spouse is a co-executor of the trust. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose. Fully vested and exercisable.
Form 4 Insider Transactions: What Each Field Means →
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).
1. Name and Address of Reporting Person*
Liebert Debra K.
(Last) (First) (Middle)
C/O MILESTONE PHARMACEUTICALS INC.
1111 DR. FREDERIK-PHILIPS BLVD, STE 420
(Street)
MONTR?AL A8 H4M 2X6
(City) (State) (Zip)
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)
3. Date of Earliest Transaction (Month/Day/Year)
07/11/2025
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
Common Shares 07/11/2025 A 16,666 A (1) 16,793 D
Common Shares 10,000 I By: The Rodriguez and Liebert Revocable Trust
Common Shares 4,000 I By: Trust(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
Series A Common Warrants (right to buy) $1.5 07/11/2025 A 16,793 (3) 07/11/2026 Common Shares 16,793 (1) 16,793 D
Series B Common Warrants (right to buy) $1.875 07/11/2025 A 16,793 (3) 07/11/2030 Common Shares 16,793 (1) 16,793 D
Explanation of Responses:
1. The reported securities are included within 16,793 Issuer Units purchased by the Reporting Person for $1.50 per Unit. Each Unit consists of one common share, one Series A common warrant and one Series B common warrant, each warrant represents the right to purchase 16,793 shares of common stock.
2. These shares are held in a trust for the benefit of several including the Reporting Person's spouse. The Reporting Person's spouse is a co-executor of the trust. The Reporting Person disclaims beneficial ownership of these securities, and the filing of this report is not an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
3. Fully vested and exercisable.
/s/ Jason Minio, Attorney-in-Fact 07/15/2025
** 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).
** 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.

Source: View Original Filing on SEC EDGAR