Mineralys CMO sells 20K shares after option exercises

Mineralys Therapeutics, Inc. Chief Medical Officer Rodman David Malcom reported option exercises and share sales in the company’s stock.

Rhea-AI Filing Summary

Mineralys Therapeutics, Inc. Chief Medical Officer Rodman David Malcom reported option exercises and share sales in the company’s stock. On April 13, he exercised stock options covering a total of 14,058 shares of Common Stock at strike prices of $1.08, $10.20, and $14.25 per share. That same day, he conducted an open-market sale of 14,058 shares of Common Stock at a weighted-average price of $26.5391 per share. On April 15, he completed a second open-market sale of 6,348 shares at $27.66 per share under a Rule 10b5-1 trading plan. After these transactions, he directly holds 69,792 shares of Common Stock.

Insider Trade Summary 10b5-1

Exercise and sale activity reported; no spread calculated

Exercise and Sale 8 txns

Insider Rodman David Malcom

Role Chief Medical Officer

Sold 20,406 shs ($549K)

Approx. gross sale proceeds $549K

Approx. exercise cost $102K

Type	Security	Shares	Price	Value
Sale	Common Stock	6,348	$27.66	$176K
Exercise	Stock Option	6,349	$0.00	$0.00
Exercise	Stock Option	3,542	$0.00	$0.00
Exercise	Stock Option	4,167	$0.00	$0.00
Exercise	Common Stock	6,349	$1.08	$7K
Exercise	Common Stock	3,542	$10.20	$36K
Exercise	Common Stock	4,167	$14.25	$59K
Sale	Common Stock	14,058	$26.5391	$373K

Holdings After Transaction: Stock Option — 231,130 contracts (Direct); Common Stock — 69,792 shares (Direct)

Footnotes (4)

1. F1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025.
2. F2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $26.3676 to $26.8400. 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. F3. 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.
4. F4. 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.

Key Figures

Total shares sold: 20,406 shares First sale price: $26.5391 per share Second sale price: $27.66 per share +5 more

8 metrics

Total shares sold 20,406 shares Net shares sold across reported open-market transactions

First sale price $26.5391 per share Weighted-average price for 14,058-share sale on April 13

Second sale price $27.66 per share Price for 6,348-share open-market sale on April 15

Options exercised 14,058 shares Total Common Stock from option exercises on April 13

Strike price 1 $1.08 per share Exercise price for 6,349-option tranche

Strike price 2 $10.20 per share Exercise price for 3,542-option tranche

Strike price 3 $14.25 per share Exercise price for 4,167-option tranche

Shares held after 69,792 shares Direct Common Stock holdings after transactions

Key Terms

Rule 10b5-1 trading plan, weighted-average price, stock option, open-market sale, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

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

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted-average price financial

"The price reported in Column 4 is a weighted-average price."

Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.

stock option financial

"The stock option vested as to 25% of the underlying shares on the first anniversary of the grant date"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

derivative security financial

"transaction_code_description: "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/15/2026 - 09:45 PM EDT 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).

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 PENNSYLVANIA 19087

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	04/13/2026		M(1)		6,349	A	$1.08	82,489	D
Common Stock	04/13/2026		M(1)		3,542	A	$10.2	86,031	D
Common Stock	04/13/2026		M(1)		4,167	A	$14.25	90,198	D
Common Stock	04/13/2026		S(1)		14,058	D	$26.5391(2)	76,140	D
Common Stock	04/15/2026		S(1)		6,348	D	$27.66	69,792	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	04/13/2026		M(1)			6,349	(3)	07/11/2032	Common Stock	6,349	$0	19,046	D
Stock Option	$10.2	04/13/2026		M(1)			3,542	(4)	02/13/2035	Common Stock	3,542	$0	120,417	D
Stock Option	$14.25	04/13/2026		M(1)			4,167	(3)	02/13/2034	Common Stock	4,167	$0	91,667	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 $26.3676 to $26.8400. 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.

4. 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	04/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)