Mineralys (MLYS) CMO exercises options, sells 20,406 shares under 10b5-1 plan

Rhea-AI Filing Summary

Mineralys Therapeutics Chief Medical Officer Rodman David Malcom reported option exercises and share sales in Mineralys Therapeutics, Inc. common stock. On March 12–13, 2026, he exercised stock options for a total of 14,057 shares of common stock at exercise prices of $1.08, $10.20, and $14.25 per share. He then sold 20,406 shares in open-market transactions at weighted-average prices between approximately $25.77 and $27.92, executed under a pre-arranged Rule 10b5-1 trading plan adopted on October 6, 2025. Following these transactions, he directly holds 76,140 shares of Mineralys Therapeutics common stock.

Insights

Equity analyst

Routine exercise-and-sell by CMO under a pre-planned Rule 10b5-1 trading program.

Mineralys Therapeutics Chief Medical Officer Rodman David Malcom exercised stock options for 14,057 shares of common stock at strike prices of $1.08, $10.20, and $14.25. These are typical compensation-related derivative exercises converting options into shares.

He then sold 20,406 shares in open-market transactions at weighted-average prices ranging from about $25.77 to $27.92. Footnotes state that all trades were made pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025, indicating the timing was pre-arranged rather than opportunistic.

After the transactions, he directly owns 76,140 common shares, so the activity represents a partial adjustment rather than an exit. With no remaining derivative positions shown in the derivativeSummary, this filing reflects exercises of options and related sales under a structured liquidity plan.

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)
03/12/2026

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	03/12/2026		M(1)		6,348	A	$1.08	88,837	D
Common Stock	03/12/2026		S(1)		6,348	D	$27.3705(2)	82,489	D
Common Stock	03/13/2026		M(1)		3,542	A	$10.2	86,031	D
Common Stock	03/13/2026		M(1)		4,167	A	$14.25	90,198	D
Common Stock	03/13/2026		S(1)		10,726	D	$25.9111(3)	79,472	D
Common Stock	03/13/2026		S(1)		3,079	D	$27.3675(4)	76,393	D
Common Stock	03/13/2026		S(1)		253	D	$27.82	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	$1.08	03/12/2026		M(1)			6,348	(5)	07/11/2032	Common Stock	6,348	$0	25,395	D
Stock Option	$10.2	03/13/2026		M(1)			3,542	(6)	02/13/2035	Common Stock	3,542	$0	123,959	D
Stock Option	$14.25	03/13/2026		M(1)			4,167	(5)	02/13/2034	Common Stock	4,167	$0	95,834	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 $27.02 to $27.92. 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 $25.77 to $26.76. 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 $26.772 to $27.720. 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	03/16/2026
	** 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 option exercises and share sales by its Chief Medical Officer. Rodman David Malcom exercised stock options for 14,057 common shares, then sold 20,406 shares in open-market trades, while ending with direct ownership of 76,140 Mineralys Therapeutics common shares.

How many Mineralys Therapeutics (MLYS) shares did the CMO sell in this Form 4?

The Chief Medical Officer sold 20,406 shares of Mineralys Therapeutics common stock. These sales occurred in several open-market transactions on March 12–13, 2026, at weighted-average prices ranging from roughly $25.77 to $27.92 per share, according to the detailed Form 4 footnotes.

How many Mineralys Therapeutics (MLYS) stock options did the CMO exercise?

The CMO exercised options covering 14,057 shares of Mineralys Therapeutics common stock. The exercised options had strike prices of $1.08, $10.20, and $14.25 per share, converting those derivative awards into common shares before subsequent open-market sales of a portion of the resulting holdings.

Does the Mineralys Therapeutics (MLYS) Form 4 involve a Rule 10b5-1 trading plan?

Yes. The Form 4 states the transactions were executed under a Rule 10b5-1 plan. Footnotes explain that the trades followed a pre-arranged trading plan adopted on October 6, 2025, indicating the sale timing was scheduled in advance rather than discretionary.

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

After the reported trades, the CMO directly holds 76,140 Mineralys Therapeutics shares. This remaining position reflects his equity stake following the March 2026 option exercises and open-market sales disclosed in the Form 4 insider transaction report.

What price ranges were reported for the Mineralys Therapeutics (MLYS) share sales?

The reported sales used weighted-average prices within disclosed ranges. Footnotes note transactions at prices from $25.77 to $26.76, from $26.772 to $27.720, and from $27.02 to $27.92 per share, with full per-trade detail available on request.