Milestone Pharma CCO reports gift of 25,000 common shares

Milestone Pharmaceuticals Inc.'s chief commercial officer reported an insider transaction involving the company's common shares.

Rhea-AI Filing Summary

Milestone Pharmaceuticals Inc.'s chief commercial officer reported an insider transaction involving the company's common shares.

On 12/09/2025, the officer disposed of 25,000 common shares in a transaction coded "G", which the filing explains is a bona fide gift made for no consideration to members of the reporting person's family who live outside the reporting person's household.

Following this gift, the reporting person directly beneficially owns 150,052 common shares of Milestone Pharmaceuticals.

Insider Trade Summary

25,000 shares gifted

Gift 1 txn

Insider Muller Lorenz

Role Chief Commercial Officer

Type	Security	Shares	Price	Value
Gift	Common Shares	25,000	$0.00	$0.00

Holdings After Transaction: Common Shares — 150,052 shares (Direct)

Footnotes (1)

1. F1. Represents a bona fide gift for no consideration to members of the Reporting Person's family outside the Reporting Person's household.

FAQ

What insider transaction did Milestone Pharmaceuticals (MIST) disclose in this Form 4?

The Form 4 reports that the chief commercial officer disposed of 25,000 common shares of Milestone Pharmaceuticals Inc. in a transaction coded "G", which is described as a bona fide gift.

When did the 25,000-share gift by the Milestone Pharmaceuticals CCO occur?

The earliest transaction date reported is 12/09/2025, which is when the 25,000 common shares were gifted.

How many MIST shares does the reporting person own after the reported gift?

After the 25,000-share gift, the reporting person directly beneficially owns 150,052 common shares of Milestone Pharmaceuticals Inc.

Was the Milestone Pharmaceuticals insider transaction a sale for value or a gift?

The filing explains that the transaction represents a bona fide gift for no consideration to members of the reporting person's family outside the reporting person's household, rather than a sale.

Who is filing this insider report for Milestone Pharmaceuticals (MIST)?

The report is filed by one reporting person, who serves as Milestone Pharmaceuticals Inc.'s Chief Commercial Officer. The form is signed by /s/ Joseph Oliveto, Attorney-in-Fact.

Is this Milestone Pharmaceuticals Form 4 filed jointly with other insiders?

No. The Form 4 indicates that it is filed by one reporting person, not by more than one reporting person.

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Accepted by SEC EDGAR 12/11/2025 - 04:15 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^*

Muller Lorenz

(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 Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/09/2025

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	12/09/2025		G(1)		25,000	D	$0	150,052	D

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

Explanation of Responses:

1. Represents a bona fide gift for no consideration to members of the Reporting Person's family outside the Reporting Person's household.

	/s/ Joseph Oliveto, Attorney-in-Fact	12/11/2025
	** 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.
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