Mineralys Therapeutics (MLYS) CMO exercises stock options and sells shares

Rhea-AI Filing Summary

Mineralys Therapeutics Chief Medical Officer David Malcom Rodman exercised stock options for 417 shares of common stock at $15.44 per share and on the same day sold 417 shares at $25.65 per share in an open-market trade. The transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on October 6, 2025. After these transactions, he directly owns 76,140 shares of Mineralys Therapeutics common stock, so the sale represents a small portion of his overall holdings.

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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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)
03/17/2026

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	03/17/2026		M(1)		417	A	$15.44	76,557	D
Common Stock	03/17/2026		S(1)		417	D	$25.65	76,140	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	03/17/2026		M(1)			417	(2)	03/17/2033	Common Stock	417	$0	5,000	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	03/17/2026
	** 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 for its CMO?

Mineralys Therapeutics reported that Chief Medical Officer David Malcom Rodman exercised stock options for 417 common shares at $15.44 and sold 417 shares at $25.65. These same-day transactions combine an option exercise with an open-market sale of the resulting shares.

How many Mineralys Therapeutics (MLYS) shares did the CMO sell and at what price?

The CMO sold 417 shares of Mineralys Therapeutics common stock at $25.65 per share. This sale followed an option exercise for the same number of shares, effectively turning an option position into cash while keeping a substantial remaining equity stake.

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

Following the reported transactions, the CMO directly owns 76,140 shares of Mineralys Therapeutics common stock. This means the 417 shares sold represent a small fraction of his total holdings, indicating the filing reflects a minor portfolio adjustment rather than a large position change.

Were the Mineralys Therapeutics (MLYS) insider transactions pre-planned?

Yes. The filing states the transactions were effected under a Rule 10b5-1 trading plan adopted on October 6, 2025. Such plans are established in advance and automatically execute trades, making the timing more routine and less about short-term market views.

What kind of option transaction did Mineralys Therapeutics (MLYS) disclose for its CMO?

The company disclosed a derivative exercise where the CMO exercised stock options covering 417 shares of common stock at an exercise price of $15.44 per share. The exercised shares were then sold the same day, turning an option grant into realized cash proceeds.

Does the Mineralys Therapeutics (MLYS) Form 4 suggest a large insider sell-off?

The Form 4 shows a relatively small sale of 417 shares compared with the CMO’s 76,140 shares held afterward. Because the sale is tied to an option exercise and a Rule 10b5-1 plan, it appears as a routine, limited transaction rather than a large-scale sell-off.