Mineralys Therapeutics (MLYS) CMO exercises options and sells stock

Rhea-AI Filing Summary

Mineralys Therapeutics Chief Medical Officer trades shares under a pre-set plan. Rodman David Malcom, Chief Medical Officer of Mineralys Therapeutics, reported exercising stock options for 2,170 shares of common stock on January 9, 2026 at an exercise price of $16.00 per share and for 6,348 shares on January 12, 2026 at an exercise price of $1.08 per share.

On each date, he then sold the same number of common shares, with 2,170 shares sold at $33.27 and 6,348 shares sold at a weighted-average price of $32.3162, in multiple trades between $32.01 and $32.93. After these transactions, he directly beneficially owned 61,804 shares of common stock, along with stock options covering 28,218 and 38,092 shares from two grants. All trades were executed pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025.

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
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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)
01/09/2026

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	01/09/2026		M(1)		2,170	A	$16	63,974	D
Common Stock	01/09/2026		S(1)		2,170	D	$33.27	61,804	D
Common Stock	01/12/2026		M(1)		6,348	A	$1.08	68,152	D
Common Stock	01/12/2026		S(1)		6,348	D	$32.3162(2)	61,804	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	$16	01/09/2026		M(1)			2,170	(3)	02/09/2033	Common Stock	2,170	$0	28,218	D
Stock Option	$1.08	01/12/2026		M(1)			6,348	(3)	07/11/2032	Common Stock	6,348	$0	38,092	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 $32.01 to $32.93. 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 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	01/13/2026
	** 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.

FAQ

What insider transactions did Mineralys Therapeutics (MLYS) report in this Form 4?

The filing reports that Chief Medical Officer Rodman David Malcom exercised stock options and sold the resulting 2,170 shares on January 9, 2026 and 6,348 shares on January 12, 2026 of Mineralys Therapeutics common stock.

At what prices did the Mineralys (MLYS) Chief Medical Officer exercise and sell shares?

He exercised options at $16.00 per share for 2,170 shares and $1.08 per share for 6,348 shares, then sold 2,170 shares at $33.27 and 6,348 shares at a weighted-average price of $32.3162, with individual trades between $32.01 and $32.93.

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

Following the reported transactions, Rodman David Malcom directly beneficially owned 61,804 shares of Mineralys Therapeutics common stock, plus stock options for 28,218 and 38,092 underlying shares from two option grants.

Were the Mineralys (MLYS) insider stock sales under a Rule 10b5-1 plan?

Yes. The filing states that these transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025, which is a pre-arranged plan for trading company stock.

What does the weighted-average sale price mean in this Mineralys Form 4?

The $32.3162 sale price for 6,348 shares is a weighted-average. The shares were sold in multiple trades at prices ranging from $32.01 to $32.93, and the insider has offered to provide full breakdowns upon request.

How do the stock options for Mineralys (MLYS) CMO vest?

The filing explains that 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.