[Form 4] Medicinova, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Medicinova, Inc. (MNOV) – Form 4 insider filing

On 17 June 2025, director Carolyn Beaver was granted an option to purchase 20,000 shares of Medicinova common stock. The option’s exercise price is $1.26 per share and it will expire on 16 June 2035.

The award vests in four equal installments of 5,000 shares on the following dates, contingent on continued board service:

• 30 Sep 2025
• 31 Dec 2025
• 31 Mar 2026
• 30 Jun 2026

Following this grant, Beaver reports beneficial ownership of 20,000 derivative securities and no change in non-derivative holdings was disclosed.

The transaction was coded “A” (grant) and filed as a single-reporting-person Form 4 on 20 June 2025. No 10b5-1 plan was indicated.

Investor takeaway: This appears to be a routine equity incentive award to align director interests with shareholders; the 20,000-share size is modest relative to Medicinova’s outstanding share count and therefore immaterial from a dilution standpoint.

Insights

Securities Analyst

TL;DR: Routine 20k option grant to MNOV director; neutral impact on valuation.

The filing documents a standard director compensation event: 20,000 options at $1.26, vesting quarterly over one year. With Medicinova’s float well above 50 million shares, the potential dilution (<0.05%) is de minimis. No purchase or sale of common shares occurred, so the transaction does not provide directional insight into insider sentiment. Investors should view this as administrative rather than a catalyst for price movement.

Corporate Governance Expert

TL;DR: Option grant aligns director incentives; governance standards appear typical.

The option structure—10-year term, quarterly vesting, market-aligned strike—conforms to prevalent small-cap governance practices. The absence of a 10b5-1 notation indicates the grant was board-approved rather than director-initiated trading. No red flags around accelerated vesting or preferential pricing are evident. Overall, the filing signals adherence to routine equity-based compensation policies without material governance concerns.

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^*

BEAVER CAROLYN

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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

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 (Right to Buy)	$1.26	06/17/2025		A		20,000		(1)	06/16/2035	Common Stock	20,000	$0	20,000	D

Explanation of Responses:

1. The option vests in four equal installments on September 30, 2025, December 31, 2025, March 31, 2026 and June 30, 2026, subject to continued service with the Company.

	/s/ Yuichi Iwaki, attorney-in-fact	06/20/2025
	** 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

What insider transaction did Medicinova (MNOV) report on 20 June 2025?

Director Carolyn Beaver received a grant of 20,000 stock options with a $1.26 exercise price.

How many stock options were granted to Carolyn Beaver?

A total of 20,000 options to purchase MNOV common shares.

What is the exercise price and expiration date of the options?

The options are exercisable at $1.26 and expire on 16 June 2035.

When will the options vest?

They vest in four equal tranches on 30 Sep 2025, 31 Dec 2025, 31 Mar 2026, and 30 Jun 2026.

Did the filing indicate ownership of MNOV common shares after the grant?

Only derivative ownership was reported; 20,000 options are now beneficially owned.