Mineralys Therapeutics (MLYS) CMO reports major option exercises and sales

Rhea-AI Filing Summary

Mineralys Therapeutics Chief Medical Officer Rodman David Malcom reportedmultiple stock option exercises and related share sales in early January 2026. On January 2, 2026, he exercised options for 10,053, 3,629, 9,347, 20,168 and 24,193 shares of common stock at exercise prices of $1.08, $15.44, $10.20, $16.00 and $14.25, respectively, then sold 70,037 shares at a weighted-average price of $35.8656.

On January 5, 2026, he exercised additional options for 28,038, 10,121, 26,069, 53,630 and 67,473 shares at the same exercise prices, and sold 139,245 shares at a weighted-average price of $34.8275 and 53,470 shares at a weighted-average price of $35.5256. Following the last reported transaction, he directly owned 61,804 common shares, which includes 680 shares purchased under the 2023 Employee Stock Purchase Plan that were not previously reported. All transactions were effected under a Rule 10b5-1 trading plan adopted on October 6, 2025.

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)
01/02/2026

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	01/02/2026		M(1)		10,053	A	$1.08	81,888(2)	D
Common Stock	01/02/2026		M(1)		3,629	A	$15.44	85,517	D
Common Stock	01/02/2026		M(1)		9,347	A	$10.2	94,864	D
Common Stock	01/02/2026		M(1)		20,168	A	$16	115,032	D
Common Stock	01/02/2026		M(1)		24,193	A	$14.25	139,225	D
Common Stock	01/02/2026		S(1)		70,037	D	$35.8656(3)	69,188	D
Common Stock	01/05/2026		M(1)		28,038	A	$1.08	97,226	D
Common Stock	01/05/2026		M(1)		10,121	A	$15.44	107,347	D
Common Stock	01/05/2026		M(1)		26,069	A	$10.2	133,416	D
Common Stock	01/05/2026		M(1)		53,630	A	$16	187,046	D
Common Stock	01/05/2026		M(1)		67,473	A	$14.25	254,519	D
Common Stock	01/05/2026		S(1)		139,245	D	$34.8275(4)	115,274	D
Common Stock	01/05/2026		S(1)		53,470	D	$35.5256(5)	61,804	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	01/02/2026		M(1)			10,053	(6)	07/11/2032	Common Stock	10,053	$0	72,478	D
Stock Option	$15.44	01/02/2026		M(1)			3,629	(6)	03/17/2033	Common Stock	3,629	$0	16,371	D
Stock Option	$10.2	01/02/2026		M(1)			9,347	(7)	02/13/2035	Common Stock	9,347	$0	160,653	D
Stock Option	$16	01/02/2026		M(1)			20,168	(6)	02/09/2033	Common Stock	20,168	$0	84,018	D
Stock Option	$14.25	01/02/2026		M(1)			24,193	(6)	02/13/2034	Common Stock	24,193	$0	175,807	D
Stock Option	$1.08	01/05/2026		M(1)			28,038	(6)	07/11/2032	Common Stock	28,038	$0	44,440	D
Stock Option	$15.44	01/05/2026		M(1)			10,121	(6)	03/17/2033	Common Stock	10,121	$0	6,250	D
Stock Option	$10.2	01/05/2026		M(1)			26,069	(7)	02/13/2035	Common Stock	26,069	$0	134,584	D
Stock Option	$16	01/05/2026		M(1)			53,630	(6)	02/09/2033	Common Stock	53,630	$0	30,388	D
Stock Option	$14.25	01/05/2026		M(1)			67,473	(6)	02/13/2034	Common Stock	67,473	$0	108,334	D

Explanation of Responses:

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

2. This balance includes 680 shares purchased under the Mineralys Therapeutics, Inc. 2023 Employee Stock Purchase Plan that were not previously reported.

3. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $35.6550 to $36.4522. 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 $34.2100 to $35.2021. 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 price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $35.2100 to $35.7700. 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 (5) to this Form 4.

6. 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.

7. 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	01/06/2026
	** 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.
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FAQ

Who is the insider in the Mineralys Therapeutics (MLYS) Form 4 filing?

The Form 4 reports transactions by Rodman David Malcom, who serves as Chief Medical Officer of Mineralys Therapeutics, Inc. and is an officer but not a director or 10% owner.

What stock option exercises did the Mineralys Therapeutics CMO report?

On January 2, 2026, he exercised options for 10,053, 3,629, 9,347, 20,168 and 24,193 shares at exercise prices of $1.08, $15.44, $10.20, $16.00 and $14.25. On January 5, 2026, he exercised additional options for 28,038, 10,121, 26,069, 53,630 and 67,473 shares at the same respective exercise prices.

How many Mineralys Therapeutics shares did the CMO sell and at what prices?

He reported selling 70,037 shares on January 2, 2026 at a weighted-average price of $35.8656, and on January 5, 2026 he sold 139,245 shares at a weighted-average price of $34.8275 and 53,470 shares at a weighted-average price of $35.5256. Each weighted-average price reflects multiple trades within the stated price ranges.

Were the Mineralys Therapeutics insider transactions under a Rule 10b5-1 plan?

Yes. A footnote states that all the reported transactions were effected pursuant to a Rule 10b5-1 trading plan that was adopted on October 6, 2025.

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

After the last reported sale, the Form 4 shows that he directly owned 61,804 shares of common stock. This balance includes 680 shares purchased under the 2023 Employee Stock Purchase Plan that were not previously reported.

What do the footnotes say about the reported sale prices in the Mineralys Form 4?

For each sale, the reported price is described as a weighted-average price, with shares sold in multiple transactions within specified price ranges. The reporting person undertakes to provide full information on the number of shares sold at each separate price within those ranges upon request.