Mineralys Therapeutics (MLYS) CMO logs 416-share option exercise and sale

Rhea-AI Filing Summary

Mineralys Therapeutics, Inc. insider Rodman David Malcom, the Chief Medical Officer, reported routine equity transactions in company stock. On January 20, 2026, he exercised a stock option for 416 shares of common stock at an exercise price of $15.44 per share and then sold 416 shares of common stock at a price of $32.1 per share.

After these trades, he beneficially owned 50,437 shares of common stock directly and 5,834 stock options directly. The filing notes these transactions were carried out under a Rule 10b5-1 trading plan adopted on October 6, 2025, which is a pre-arranged plan designed to allow insiders to sell shares over time in a structured manner.

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).

X

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^*

Rodman David Malcom

(Last) (First) (Middle)

150 N. RADNOR CHESTER RD.

SUITE F200

(Street)

RADNOR PA 19087

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Mineralys Therapeutics, Inc. [ MLYS ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/20/2026

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
Common Stock	01/20/2026		M(1)		416	A	$15.44	50,853	D
Common Stock	01/20/2026		S(1)		416	D	$32.1	50,437	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
Stock Option	$15.44	01/20/2026		M(1)			416	(2)	03/17/2033	Common Stock	416	$0	5,834	D

Explanation of Responses:

1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025.

2. The stock option vested as to 25% of the underlying shares on the first anniversary of the grant date, with the remaining shares vesting in 36 substantially equal monthly installments thereafter.

Remarks:

	/s/ Adam Levy, Attorney-in-fact	01/20/2026
	** 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

Who is the insider trading Mineralys Therapeutics (MLYS) stock in this Form 4?

The reporting person is Rodman David Malcom, who serves as Chief Medical Officer of Mineralys Therapeutics, Inc. and is an officer but not a director or 10% owner.

What transactions did the Mineralys Therapeutics (MLYS) CMO report on January 20, 2026?

On January 20, 2026, he exercised a stock option for 416 shares of common stock at an exercise price of $15.44, and sold 416 shares of common stock at a price of $32.1 per share.

How many Mineralys Therapeutics (MLYS) shares does the CMO own after these transactions?

Following the reported transactions, he beneficially owned 50,437 shares of common stock directly and 5,834 stock options directly.

Was the Mineralys Therapeutics (MLYS) insider trading done under a Rule 10b5-1 plan?

Yes. The filing states the transactions were effected under a Rule 10b5-1 trading plan adopted on October 6, 2025, which pre-arranges the timing and amount of trades.

What are the key details of the stock option reported by the Mineralys Therapeutics (MLYS) CMO?

The reported stock option has an exercise price of $15.44 per share. It vested 25% on the first anniversary of the grant date, with the remaining shares vesting in 36 substantially equal monthly installments thereafter, and it expires on March 17, 2033.

Is this Form 4 filing for Mineralys Therapeutics (MLYS) a direct or indirect ownership report?

All reported holdings and transactions are listed as direct (D) ownership, with no nature of indirect beneficial ownership specified.