Mineralys Therapeutics Form 4: CFO Trims Stake by ~36%

Rhea-AI Filing Summary

Mineralys Therapeutics (MLYS) – Form 4 filed 30-Jul-2025

CFO & Secretary Adam S. Levy reported open-market sales of 73,678 common shares across three trading days:

• 28-Jul-2025: 12,946 sh. at a weighted avg. $14.0432
• 29-Jul-2025: 807 sh. at $14.0048
• 30-Jul-2025: 51,500 sh. at $14.7023 and 8,425 sh. at $15.0983

Levy now directly owns 132,934 shares. Arithmetic implies his stake fell from 206,612 to 132,934 shares, a reduction of roughly 36 %. No derivative transactions were reported, and the filing does not state that the sales were executed under a Rule 10b5-1 trading plan.

Positive

• None.

Negative

• CFO Adam Levy sold 73,678 shares (~36 % of prior holdings) in open-market transactions, potentially signaling reduced insider confidence.

Insights

Securities Analyst

TL;DR: CFO sells ~36 % of holdings; modestly negative insider signal.

The CFO’s sizable disposal of 73.7 k shares within three days, without a disclosed 10b5-1 plan, is often viewed by the market as a lack-of-confidence indicator. While Levy retains 132.9 k shares, selling more than a third of his prior position may pressure sentiment, especially given the absence of offsetting insider buys. With no derivative activity or compensatory context, the transaction is considered material for a mid-cap biotech where insider ownership and alignment matter.

Corporate Governance Expert

TL;DR: Large discretionary insider sale merits monitoring by investors.

From a governance standpoint, concentrated multi-day selling by a senior executive raises questions about near-term outlook or liquidity needs. Because the form does not flag 10b5-1 protection, these appear to be discretionary trades executed in the open market. Investors should watch for additional sales or company disclosures that might contextualize the move.

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).

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^*

Levy Adam Scott

(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)
	CFO and Secretary

3. Date of Earliest Transaction (Month/Day/Year)
07/28/2025

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	07/28/2025		S		12,946	D	$14.0432(1)	193,666	D
Common Stock	07/29/2025		S		807	D	$14.0048(2)	192,859	D
Common Stock	07/30/2025		S		51,500	D	$14.7023(3)	141,359	D
Common Stock	07/30/2025		S		8,425	D	$15.0983(4)	132,934	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

Explanation of Responses:

1. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $14.00 to $14.20. 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 (1) to this Form 4.

2. The price reported in Column 4 is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $14.00 to $14.01. 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 $14.06 to $15.06. 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 $15.063 to $15.130. 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.

Remarks:

	/s/ Adam Levy	07/30/2025
	** 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

How many MLYS shares did CFO Adam Levy sell in July 2025?

73,678 common shares were sold between 28-30 Jul 2025.

What is Adam Levy's remaining ownership in Mineralys Therapeutics after the sale?

He now directly owns 132,934 shares of MLYS common stock.

At what prices were the MLYS shares sold?

Weighted-average prices ranged from $14.00 to $15.10 per share.

Did the filing indicate use of a Rule 10b5-1 trading plan?

No. The Form 4 does not state that the transactions were executed under a 10b5-1 plan.

Were any derivative securities exercised or disposed of?

No derivative security activity was reported in Table II.