MediciNova (MNOV) CEO gains 450,000 fully vested stock options

Rhea-AI Filing Summary

MediciNova Inc. reported an insider equity award for its President and CEO, Yuichi Iwaki. On January 16, 2026, he acquired an employee stock option covering 450,000 shares of common stock at a $2.10 exercise price per share. These options were originally granted on January 7, 2025 and were tied to performance criteria for the fiscal year ended December 31, 2025. The filing states that the 2025 performance criteria were met, resulting in the full vesting of the option. After this transaction, Iwaki holds 450,000 derivative securities directly, with the options exercisable from January 16, 2026 and expiring on January 6, 2035.

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

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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).

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^*

IWAKI YUICHI

(Last) (First) (Middle)

C/O MEDICINOVA, INC.

4275 EXECUTIVE SQUARE, SUITE 300

(Street)

LA JOLLA CA 92037

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MEDICINOVA INC [ MNOV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
01/16/2026

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

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
Employee Stock Option (Right to Buy)	$2.1	01/16/2026		A		450,000		01/16/2026	01/06/2035	Common Stock	450,000	$0	450,000(1)	D

Explanation of Responses:

1. On January 7, 2025, the reporting person was granted an option to purchase 450,000 shares of common stock. The option vests based on the satisfaction of certain performance criteria for the fiscal year ended December 31, 2025. Such performance criteria for 2025 were met, resulting in full vesting of the option.

	/s/ Yuichi Iwaki	01/20/2026
	** 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).
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FAQ

What insider transaction did MediciNova (MNOV) report in this Form 4?

The filing reports that President and CEO Yuichi Iwaki acquired an employee stock option for 450,000 shares of common stock on January 16, 2026.

What are the key terms of Yuichi Iwaki’s MediciNova stock options?

The options give the right to buy 450,000 shares of MediciNova common stock at an exercise price of $2.10 per share, are exercisable starting January 16, 2026, and expire on January 6, 2035.

Why did Yuichi Iwaki’s 450,000 MediciNova options fully vest?

According to the footnote, the options were granted on January 7, 2025 and vested based on performance criteria for the fiscal year ended December 31, 2025. The filing states these criteria were met, resulting in full vesting of the option.

How many MediciNova derivative securities does Yuichi Iwaki hold after this transaction?

Following the reported transaction, Yuichi Iwaki beneficially owns 450,000 derivative securities (employee stock options) related to MediciNova common stock.

Is Yuichi Iwaki’s MediciNova option holding direct or indirect?

The Form 4 indicates that the 450,000 stock options are held with direct (D) ownership by Yuichi Iwaki.

What is Yuichi Iwaki’s role at MediciNova in this insider filing?

The reporting person, IWAKI YUICHI, is identified as an officer of MediciNova, serving as President and CEO, and is not listed as a director or 10% owner.