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  4. [Form 4] Mineralys Therapeutics, Inc. Insider Trading Activity

Mineralys (MLYS) CMO exercises options and sells stock under 10b5-1 plan

Filing Impact
(Very High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Mineralys Therapeutics (MLYS) Chief Medical Officer Rodman David Malcom reported option exercises and share sales in mid-February 2026. On February 12 and 13, 2026, he exercised stock options for 6,349, 3,541 and 4,166 common shares at exercise prices of $1.08, $10.20 and $14.25 per share.

He then sold portions of the resulting common stock in open‑market transactions at weighted‑average prices of $28.9353, $29.6387, $27.33 and $27.5835, all under a Rule 10b5‑1 trading plan adopted on October 6, 2025. After these transactions, he directly owned 44,089 shares of common stock, along with multiple remaining stock option positions.

Positive

  • None.

Negative

  • None.
Insider Rodman David Malcom
Role Chief Medical Officer
Sold 20,404 shs ($570K)
Type Security Shares Price Value
Exercise Stock Option 3,541 $0.00 --
Exercise Stock Option 4,166 $0.00 --
Exercise Common Stock 3,541 $10.20 $36K
Sale Common Stock 3,541 $27.33 $97K
Exercise Common Stock 4,166 $14.25 $59K
Sale Common Stock 4,166 $27.33 $114K
Sale Common Stock 6,348 $27.5835 $175K
Exercise Stock Option 6,349 $0.00 --
Exercise Common Stock 6,349 $1.08 $7K
Sale Common Stock 5,828 $28.9353 $169K
Sale Common Stock 521 $29.6387 $15K
Holdings After Transaction: Stock Option — 127,501 shares (Direct); Common Stock — 53,978 shares (Direct)
Footnotes (1)
  1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $28.5200 to $29.4200. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $29.5870 to $29.6600. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (3) to this Form 4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $27.3300 to $28.0000. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (4) to this Form 4. 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. The stock option vests in monthly installments over a period of four years, with 1/48th of the total shares underlying the option vesting each one-month period following the date of grant.
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).
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)
02/12/2026
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 02/12/2026 M(1) 6,349 A $1.08 56,786 D
Common Stock 02/12/2026 S(1) 5,828 D $28.9353(2) 50,958 D
Common Stock 02/12/2026 S(1) 521 D $29.6387(3) 50,437 D
Common Stock 02/13/2026 M(1) 3,541 A $10.2 53,978 D
Common Stock 02/13/2026 S(1) 3,541 D $27.33 50,437 D
Common Stock 02/13/2026 M(1) 4,166 A $14.25 54,603 D
Common Stock 02/13/2026 S(1) 4,166 D $27.33 50,437 D
Common Stock 02/13/2026 S(1) 6,348 D $27.5835(4) 44,089 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 $1.08 02/12/2026 M(1) 6,349 (5) 07/11/2032 Common Stock 6,349 $0 31,743 D
Stock Option $10.2 02/13/2026 M(1) 3,541 (6) 02/13/2035 Common Stock 3,541 $0 127,501 D
Stock Option $14.25 02/13/2026 M(1) 4,166 (5) 02/13/2034 Common Stock 4,166 $0 100,001 D
Explanation of Responses:
1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025.
2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $28.5200 to $29.4200. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (2) to this Form 4.
3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $29.5870 to $29.6600. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (3) to this Form 4.
4. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $27.3300 to $28.0000. The Reporting Person undertakes to provide to the Issuer, any securityholder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (4) to this Form 4.
5. 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.
6. The stock option vests in monthly installments over a period of four years, with 1/48th of the total shares underlying the option vesting each one-month period following the date of grant.
Remarks:
/s/ Adam Levy, Attorney-in-fact 02/13/2026
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Mineralys (MLYS) report for its Chief Medical Officer?

Mineralys reported that Chief Medical Officer Rodman David Malcom exercised multiple stock options and sold portions of the resulting common shares. The activity occurred on February 12 and 13, 2026, and was executed under a pre-established Rule 10b5-1 trading plan.

How many Mineralys (MLYS) shares does the CMO own after these Form 4 transactions?

After the reported transactions, Chief Medical Officer Rodman David Malcom directly owned 44,089 shares of Mineralys common stock. He also continued to hold several stock option awards, including positions with 31,743, 127,501 and 100,001 derivative securities remaining outstanding.

At what prices did the Mineralys (MLYS) CMO exercise stock options and sell shares?

Stock options were exercised at prices of $1.08, $10.20 and $14.25 per share. Resulting common shares were sold in open-market trades at weighted-average prices of $28.9353, $29.6387, $27.33 and $27.5835 across multiple transactions on February 12 and 13, 2026.

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

Yes. The filing states that all reported transactions were effected under a Rule 10b5-1 trading plan adopted on October 6, 2025. Such plans pre-schedule trades, helping insiders diversify holdings while reducing concerns about trading on material nonpublic information.

What derivative securities are shown in the Mineralys (MLYS) Form 4 for the CMO?

The Form 4 lists several stock options held by the CMO, including options exercisable into 6,349, 3,541 and 4,166 common shares. These options have exercise prices of $1.08, $10.20 and $14.25 and expiration dates in 2032, 2035 and 2034, respectively.

How do the Mineralys (MLYS) stock options reported on Form 4 vest for the CMO?

One option grant vested 25% on the first anniversary of the grant date, with the remaining shares vesting in 36 equal monthly installments. Another option vests monthly over four years, with 1/48th of the total underlying shares vesting each month after the grant date.