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

Rhea-AI Filing Summary

Mineralys Therapeutics insider activity: Dr. David Malcom Rodman, the company's Chief Medical Officer, exercised options and sold common stock under a Rule 10b5-1 plan. On 08/12/2025 he exercised stock options to acquire 6,349 shares at an exercise price of $1.08, increasing his direct beneficial ownership to 104,256 shares. The related option grants vesting details are stated: 25% vested on 07/12/2022 with the remainder vesting in 36 monthly installments. On 08/13/2025 he sold 11,365 shares at a weighted-average price of $12.9333, with sale prices ranging from $12.590 to $13.223. The transactions were effected pursuant to a 10b5-1 trading plan adopted on 10/25/2024.

Positive

• 10b5-1 plan disclosed with adoption date (10/25/2024), indicating trades were pre-planned and documented
• Option exercise clearly reported: 6,349 options exercised at $1.08, and vesting schedule disclosed

Negative

• Insider sold 11,365 shares reducing direct holdings to 92,891 shares, which increases available float
• Weighted-average sale price disclosed ($12.9333) with sales across a range ($12.590–$13.223), indicating realized insider liquidity

Insights

Securities Analyst

TL;DR: Insider exercised options and sold shares under a pre-established 10b5-1 plan; transactions are routine but relevant to share supply.

The exercise of 6,349 options at $1.08 added shares to the reporting person's direct holdings, while the subsequent sale of 11,365 shares at a weighted-average of $12.9333 reduced his position to 92,891 shares. Because the sales were made under a Rule 10b5-1 plan adopted on 10/25/2024, they reflect pre-planned disposition rather than ad hoc market timing. The disclosed sale price range ($12.590 to $13.223) and the option vesting schedule provide clarity on timing and potential dilution from option exercises.

Corporate Governance Expert

TL;DR: Transactions are transparent and accompanied by required 10b5-1 disclosure; governance controls appear followed.

The Form 4 discloses adoption date of the 10b5-1 plan and provides a weighted-average sale price with an offer to supply per-trade details on request, which supports compliance and transparency. The signature by attorney-in-fact and inclusion of vesting terms for the option indicate proper procedural documentation. These disclosures allow investors to assess insider selling while distinguishing planned sales from opportunistic trades.

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 ROAD,

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)
08/12/2025

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	08/12/2025		M(1)		6,349	A	$1.08	104,256	D
Common Stock	08/13/2025		S(1)		11,365	D	$12.9333(2)	92,891	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	08/12/2025		M(1)			6,349	(3)	07/11/2032	Common Stock	6,349	$0	82,531	D

Explanation of Responses:

1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on October 25, 2024.

2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $12.590 to $13.223. 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 July 12, 2022, with the remaining shares vesting in 36 substantially equal monthly installments thereafter.

Remarks:

	/s/ Adam Levy, Attorney-in-fact	08/14/2025
	** 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 on this Form 4?

The Form 4 reports that Chief Medical Officer Dr. David M. Rodman exercised 6,349 options at $1.08 on 08/12/2025 and sold 11,365 shares on 08/13/2025 under a Rule 10b5-1 plan.

How many shares does the reporting person own after these transactions (MLYS)?

Following the transactions the reporting person beneficially owned 92,891 shares directly after the reported sale (104,256 after the exercise, then 92,891 after the sale).

What prices were involved in the reported MLYS sale?

The sale reported a weighted-average price of $12.9333 and individual sale prices ranged from $12.590 to $13.223.

Were the transactions part of a trading plan for MLYS insider?

Yes. The Form 4 states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on 10/25/2024.

What are the vesting terms for the exercised options disclosed in the MLYS Form 4?

The option vested 25% on 07/12/2022, with the remaining shares vesting in 36 substantially equal monthly installments thereafter.