Milestone Pharmaceuticals (MIST) COO receives new stock options and RSU grants

Rhea-AI Filing Summary

Milestone Pharmaceuticals Inc. reported that its Chief Operating Officer, Jeffrey Edward Nelson, received new equity awards. On February 2, 2026, he was granted an option to buy 204,000 common shares at $1.97 per share and 136,000 restricted stock units.

One-fourth of the option vests on February 2, 2027, with the remaining shares vesting monthly over three years, contingent on continued service. The RSUs vest in four equal annual installments on February 2 of 2027, 2028, 2029, and 2030, also subject to continued service.

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^*

Nelson Jeffrey Edward

(Last) (First) (Middle)

C/O MILESTONE PHARMACEUTICALS INC.

1111 DR. FREDERIK-PHILIPS BLVD, STE 420

(Street)

MONTREAL 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

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

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
Employee Stock Option (right to buy)	$1.97	02/02/2026		A		204,000		(1)	02/02/2036	Common Shares	204,000	$0	204,000	D
Restricted Stock Unit	(2)	02/02/2026		A		136,000		(3)	(3)	Common Shares	136,000	$0	136,000	D

Explanation of Responses:

1. One-fourth (1/4th) of the shares subject to the option vest on February 2, 2027, and one thirty-sixth (1/36th) of the remaining shares subject to this option shall vest each month thereafter, subject to the Reporting Person continuing to provide service through each such date.

2. Each restricted stock unit represents a contingent right to receive one common share.

3. One-fourth (1/4th) of the shares subject to the restricted stock unit award vest on each of February 2, 2027, February 2, 2028, February 2, 2029 and February 2, 2030, subject to the Reporting Person continuing to provide service through each such date.

	/s/ Joseph Oliveto, Attorney-in-Fact	02/04/2026
	** 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.

FAQ

What insider transaction did Milestone Pharmaceuticals (MIST) report for February 2, 2026?

Milestone Pharmaceuticals reported new equity grants to its Chief Operating Officer on February 2, 2026. He received stock options and restricted stock units, both with time-based vesting tied to continued service with the company over several years.

How many stock options did the Milestone Pharmaceuticals (MIST) COO receive?

The Chief Operating Officer received an option to purchase 204,000 common shares. The option has an exercise price of $1.97 per share and vests over four years, starting with a 25% vesting on February 2, 2027, then monthly vesting thereafter.

What are the terms of the restricted stock units granted by Milestone Pharmaceuticals (MIST)?

The COO was granted 136,000 restricted stock units, each representing one common share. The award vests in four equal installments on February 2 of 2027, 2028, 2029, and 2030, provided he continues to provide service through each vesting date.

Is the Milestone Pharmaceuticals (MIST) COO’s equity award a purchase or a grant?

The filing shows these as awards granted at no purchase price. The stock option carries a $1.97 exercise price per share, while the restricted stock units are contingent rights to receive shares upon vesting, rather than immediate share purchases.

How is vesting structured for the Milestone Pharmaceuticals (MIST) COO stock option?

One-fourth of the option shares vest on February 2, 2027. The remaining shares vest in equal monthly installments over the following three years, with all vesting conditioned on the COO continuing to provide service to Milestone Pharmaceuticals.

What position does the reporting person hold at Milestone Pharmaceuticals (MIST)?

The reporting person is Milestone Pharmaceuticals’ Chief Operating Officer. The equity awards reported, including stock options and restricted stock units, are tied to his role and are subject to continued service-based vesting conditions over several years.