Mineralys (MLYS) CMO logs small 10b5-1 share sale and option exercise

Rhea-AI Filing Summary

Mineralys Therapeutics Chief Medical Officer David Malcom Rodman reported a small, pre-planned insider transaction. On April 17, 2026, he sold 416 shares of common stock in an open-market sale at $31.33 per share and exercised stock options for 416 shares at $15.44 per share. These trades were made under a Rule 10b5-1 trading plan adopted on October 6, 2025. Following the sale, he directly owned 69,792 shares of common stock and held 4,584 stock options as reported in this filing.

Insights

Equity analyst

Routine, pre-planned option exercise and small sale with limited signal.

The Chief Medical Officer of Mineralys Therapeutics exercised stock options for 416 shares at $15.44 and sold 416 shares at $31.33. This is a classic exercise-and-sell pattern where derivative compensation is converted into cash.

The filing shows these trades were executed under a Rule 10b5-1 trading plan adopted on October 6, 2025. Such plans are set up in advance, which generally indicates routine portfolio management rather than a reaction to near-term information.

After the transactions, he still directly held 69,792 common shares and 4,584 stock options, so the activity affects only a small portion of his exposure. Based on the disclosed figures, this appears to be a minor, administrative insider trade rather than a thesis-changing event.

Insider Trade Summary 10b5-1

Exercise and Sale: 416 shares ($7K approx. pre-tax spread)

Exercise and Sale 3 txns

Insider Rodman David Malcom

Role Chief Medical Officer

Sold 416 shs ($13K)

Approx. gross sale proceeds $13K

Approx. exercise cost $6K

Approx. pre-tax spread $7K

Type	Security	Shares	Price	Value
Exercise	Stock Option	416	$0.00	$0.00
Exercise	Common Stock	416	$15.44	$6K
Sale	Common Stock	416	$31.33	$13K

Holdings After Transaction: Stock Option — 4,584 shares (Direct); Common Stock — 69,792 shares (Direct)

Footnotes (2)

1. F1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on October 6, 2025.
2. F2. 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.

Key Figures

Shares sold: 416 shares Sale price: $31.33 per share Options exercised: 416 shares +3 more

6 metrics

Shares sold 416 shares Common stock sold on April 17, 2026

Sale price $31.33 per share Open-market sale of 416 common shares

Options exercised 416 shares Common shares acquired via option exercise

Option exercise price $15.44 per share Stock option exercise or conversion price

Common shares held 69,792 shares Direct ownership after reported sale

Stock options held 4,584 options Stock option position after exercise transaction

Key Terms

Rule 10b5-1 trading plan, stock option, Exercise or conversion of derivative security, open-market sale

4 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.

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.

Exercise or conversion of derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

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.

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

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 04/21/2026 - 06:59 PM Learn about SEC filing dates

FAQ

What insider transaction did Mineralys Therapeutics (MLYS) report for its Chief Medical Officer?

Mineralys Therapeutics reported that its Chief Medical Officer, David Malcom Rodman, sold 416 shares of common stock and exercised stock options for 416 shares. The sale was at $31.33 per share and the option exercise price was $15.44 per share, both on April 17, 2026.

How many Mineralys Therapeutics (MLYS) shares does the CMO hold after this Form 4 filing?

After the reported transactions, the Chief Medical Officer directly owned 69,792 shares of Mineralys Therapeutics common stock. The filing also shows a stock option position of 4,584 options, giving him continued equity exposure to the company following this relatively small transaction.

Was the Mineralys Therapeutics (MLYS) insider sale made under a Rule 10b5-1 plan?

Yes. The filing states the transactions were executed under a Rule 10b5-1 trading plan adopted on October 6, 2025. Such pre-arranged plans schedule trades in advance, which typically indicates routine diversification or liquidity management rather than opportunistic market timing.

What prices were involved in the Mineralys Therapeutics (MLYS) CMO’s Form 4 transactions?

The Chief Medical Officer sold 416 common shares at $31.33 per share and exercised stock options for 416 shares at an exercise price of $15.44 per share. These prices show the difference between the option strike price and current market sale price realized on April 17, 2026.

What type of stock option activity did Mineralys Therapeutics (MLYS) disclose for its CMO?

Mineralys Therapeutics disclosed an exercise of stock options covering 416 underlying common shares at a $15.44 exercise price. A footnote explains the option vested 25% after one year, with the balance vesting in 36 monthly installments, reflecting a typical long-term compensation structure.

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)
04/17/2026

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	04/17/2026		M(1)		416	A	$15.44	70,208	D
Common Stock	04/17/2026		S(1)		416	D	$31.33	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	$15.44	04/17/2026		M(1)			416	(2)	03/17/2033	Common Stock	416	$0	4,584	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	04/21/2026
	** 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)