Milestone Pharmaceuticals (MIST) awards director 77,000 stock options

Rhea-AI Filing Summary

Milestone Pharmaceuticals Inc. director Duty Stuart 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. Following this grant, Stuart holds options on 77,000 shares.

The award vests in twelve equal monthly installments starting on July 10, 2026, and will in any case be fully vested on the date of the next annual stockholders’ meeting, as long as Stuart continues providing service through each vesting date.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Duty Stuart

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)

1. [object Object]

Key Figures

Options granted: 77,000 options Exercise price: $1.22 per share Post‑grant option holdings: 77,000 options +3 more

6 metrics

Options granted 77,000 options Stock Option (right to buy) grant to director Duty Stuart

Exercise price <money>$1.22</money> per share Conversion or exercise price for 77,000 option shares

Post‑grant option holdings 77,000 options Total options held following the reported transaction

Vesting schedule 12 equal monthly installments Vesting begins on July 10, 2026

Full vesting backstop By next annual meeting Fully vested on date of next stockholders’ meeting if service continues

Expiration date <date>June 10, 2036</date> Option term end date

Key Terms

Stock Option (right to buy), Grant, award, or other acquisition, vesting, exercise price

4 terms

Stock Option (right to buy) financial

"security_title: Stock Option (right to buy)"

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

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.

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.

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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).

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^*

Duty Stuart

(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)
			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)	$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)

FAQ

What insider transaction did Milestone Pharmaceuticals (MIST) report for Duty Stuart?

Milestone Pharmaceuticals reported that director Duty Stuart received stock options for 77,000 common shares. These options were granted as a compensation award, not an open‑market purchase, and give him the right to buy shares at a fixed exercise price.

What is the exercise price of Duty Stuart’s stock options at Milestone Pharmaceuticals (MIST)?

The exercise price of Duty Stuart’s stock options is $1.22 per share. This means he can choose to buy up to 77,000 Milestone common shares at $1.22 each regardless of the market price, once the options vest and before they expire.

How many Milestone Pharmaceuticals (MIST) shares are covered by Duty Stuart’s option grant?

Duty Stuart’s option grant covers 77,000 shares of Milestone Pharmaceuticals common stock. These are derivative securities that, once vested and exercised, would convert into an equal number of common shares, increasing his direct equity exposure to the company.

When do Duty Stuart’s Milestone Pharmaceuticals (MIST) stock options vest?

Duty Stuart’s options vest in twelve equal monthly installments beginning on July 10, 2026. The grant will be fully vested by the date of Milestone’s next annual stockholders’ meeting, provided he continues to provide service through each vesting date.

When do Duty Stuart’s Milestone Pharmaceuticals (MIST) stock options expire?

The stock options granted to Duty Stuart expire on June 10, 2036. If he does not exercise the options by that expiration date, the right to buy Milestone common shares at the $1.22 exercise price will lapse and become worthless.

How many options does Duty Stuart hold in Milestone Pharmaceuticals (MIST) after this grant?

After this award, Duty Stuart holds options covering 77,000 Milestone Pharmaceuticals common shares. This reflects his total option position reported in the filing, showing his potential future ownership if all granted options eventually vest and are exercised.