RSU tax-driven sales: MapLight Therapeutics (MPLT) director trims stake

Q: Why were Robert C. Malenka’s MPLT share sales executed in late January 2026?

The sales were executed to cover tax obligations arising from the settlement of restricted stock unit awards. Each restricted stock unit represents a contingent right to receive one MapLight Therapeutics common share, and some shares were sold to satisfy the related tax liabilities.

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

MapLight Therapeutics director Robert C. Malenka reported selling voting common stock primarily to cover taxes on restricted stock units. On January 28–30, 2026, he sold several blocks of shares at weighted average prices between about $18 and $19 per share.

After these sales, he beneficially owns 365,273 shares directly and 31,672 shares indirectly through the Robert C. Malenka Living Trust, where he serves as sole trustee with voting and dispositive power. The retained shares remain subject to a 180‑day IPO lock-up following the October 26, 2025 final prospectus.

Insider Trade Summary

Net Seller: 34,398 shares ($635,857)

Net Sell 5 txns

Insider Malenka Robert C.

Role Director

Sold 34,398 shs ($636K)

Type	Security	Shares	Price	Value
Sale	Voting Common Stock	6,612	$18.11	$120K
Sale	Voting Common Stock	21,262	$18.55	$394K
Sale	Voting Common Stock	5,860	$18.61	$109K
Sale	Voting Common Stock	664	$19.05	$13K
holding	Voting Common Stock	--	--	--

Holdings After Transaction: Voting Common Stock — 365,273 shares (Direct); Voting Common Stock — 31,672 shares (Indirect, See footnote)

Footnotes (1)

Represents sales of shares of common stock by the Reporting Person to cover tax obligations in connection with the settlement of restricted stock unit awards. Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer. The securities of the Issuer retained by the Reporting Person remain subject to the terms a lock-up agreement entered into with the underwriters for the Issuer's initial public offering, pursuant to which the Reporting Person agreed, subject to certain exceptions, not to directly or indirectly sell or otherwise transfer securities of the Issuer for a period of 180 days following the date of the final prospectus relating to the initial public offering, which was October 26, 2025. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $18.01 to $19.01, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $19.02 to $19.11, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $18.13 to $19.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $18.00 to $18.50, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The shares are held by the Robert C. Malenka Living Trust U/A DTD 08/21/2012, of which the Reporting Person is the sole trustee and has voting and dispositive power.

Form 4 Insider Transactions: What Each Field Means →

01/30/2026 - 08:50 PM

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^*

Malenka Robert C.

(Last)

(First)

(Middle)

C/O MAPLIGHT THERAPEUTICS, INC.

800 CHESAPEAKE DRIVE

(Street)

REDWOOD CITY

94063

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
MapLight Therapeutics, Inc. [ MPLT ]

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)
01/28/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Voting Common Stock	01/28/2026		S		5,860⁽¹⁾	D	$18.61⁽²⁾	393,811	D
Voting Common Stock	01/28/2026		S		664⁽¹⁾	D	$19.05⁽³⁾	393,147	D
Voting Common Stock	01/29/2026		S		21,262⁽¹⁾	D	$18.55⁽⁴⁾	371,885	D
Voting Common Stock	01/30/2026		S		6,612⁽¹⁾	D	$18.11⁽⁵⁾	365,273	D
Voting Common Stock								31,672	I	See footnote⁽⁶⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents sales of shares of common stock by the Reporting Person to cover tax obligations in connection with the settlement of restricted stock unit awards. Each restricted stock unit represents a contingent right to receive one share of common stock of the Issuer. The securities of the Issuer retained by the Reporting Person remain subject to the terms a lock-up agreement entered into with the underwriters for the Issuer's initial public offering, pursuant to which the Reporting Person agreed, subject to certain exceptions, not to directly or indirectly sell or otherwise transfer securities of the Issuer for a period of 180 days following the date of the final prospectus relating to the initial public offering, which was October 26, 2025.

2. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $18.01 to $19.01, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $19.02 to $19.11, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $18.13 to $19.09, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from $18.00 to $18.50, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. The shares are held by the Robert C. Malenka Living Trust U/A DTD 08/21/2012, of which the Reporting Person is the sole trustee and has voting and dispositive power.

	/s/ Kristopher L. Hanson, Attorney-in-Fact	01/30/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did MPLT director Robert C. Malenka report?

Robert C. Malenka reported selling MapLight Therapeutics voting common stock. The sales occurred on January 28–30, 2026 and were made to cover tax obligations tied to the settlement of restricted stock unit awards, as described in the footnotes.

How many MapLight Therapeutics (MPLT) shares does Robert C. Malenka own after the Form 4?

After the reported transactions, Robert C. Malenka beneficially owns 365,273 shares of voting common stock directly. He also indirectly owns 31,672 shares through the Robert C. Malenka Living Trust, where he is sole trustee with voting and dispositive power.

At what prices did Robert C. Malenka sell his MPLT shares?

The reported prices are weighted average sales prices for multiple trades. The January 28–30, 2026 transactions occurred in ranges from $18.00 to $19.11 per share, with specific weighted averages such as $18.61, $19.05, $18.55, and $18.11 disclosed.

Are Robert C. Malenka’s remaining MPLT shares subject to a lock-up?

Yes. The securities retained by Robert C. Malenka remain subject to a lock-up agreement related to MapLight Therapeutics’ initial public offering, generally restricting transfers for 180 days after the October 26, 2025 final prospectus date, subject to stated exceptions.

How are Malenka’s indirect MPLT holdings structured according to the Form 4?

The indirect holdings are owned by the Robert C. Malenka Living Trust U/A DTD 08/21/2012. The Form 4 states that Robert C. Malenka is the sole trustee of this trust and has both voting and dispositive power over the 31,672 shares held there.