MapLight Therapeutics (MPLT) CEO sells 118K shares in pre-planned trades

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

MapLight Therapeutics, Inc. Chief Executive Officer Christopher A. Kroeger reported open-market sales of Voting Common Stock. He sold a total of 118,235 shares on May 18, 2026 across two transactions at weighted average prices of $27.19 and $28.15 per share.

These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan adopted on December 29, 2025. Following the sales, Kroeger directly holds 1,394,094 shares of Voting Common Stock, indicating he retains a substantial equity stake in the company.

Insights

CEO’s pre-planned stock sale reduces holdings modestly while leaving a large remaining stake.

Christopher A. Kroeger, CEO of MapLight Therapeutics, executed two open-market sales totaling 118,235 shares of Voting Common Stock at weighted average prices of $27.19 and $28.15 per share. The transactions are explicitly labeled as open-market sales.

A key factor is that these sales were made under a Rule 10b5-1 trading plan adopted on December 29, 2025, indicating they were pre-scheduled rather than opportunistic. After the sales, Kroeger still directly owns 1,394,094 shares, so this filing reflects a partial, routine diversification rather than an exit.

Insider Trade Summary 10b5-1

Net Seller: 118,235 shares ($3,215,000)

Net Sell 2 txns

Insider Kroeger Christopher A.

Role Chief Executive Officer

Sold 118,235 shs ($3.21M)

Type	Security	Shares	Price	Value
Sale	Voting Common Stock	118,037	$27.19	$3.21M
Sale	Voting Common Stock	198	$28.15	$6K

Holdings After Transaction: Voting Common Stock — 1,394,292 shares (Direct, null)

Footnotes (1)

This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 29, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.565 to $27.4347 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder 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 range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.57 to $28.20 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder 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 range set forth in this footnote.

Key Figures

Total shares sold: 118,235 shares Weighted average sale price block 1: $27.19/share Weighted average sale price block 2: $28.15/share +2 more

5 metrics

Total shares sold 118,235 shares Open-market sales on May 18, 2026

Weighted average sale price block 1 $27.19/share 118,037 shares of Voting Common Stock

Weighted average sale price block 2 $28.15/share 198 shares of Voting Common Stock

Shares held after transactions 1,394,094 shares Direct ownership of Voting Common Stock post-sale

Rule 10b5-1 plan adoption date December 29, 2025 Plan governing May 18, 2026 stock sales

Key Terms

Rule 10b5-1 trading plan, weighted average price, open-market sale, Voting Common Stock

4 terms

Rule 10b5-1 trading plan regulatory

"This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 29, 2025."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Voting Common Stock financial

"security_title: Voting Common Stock"

Form 4 Insider Transactions: What Each Field Means →

05/18/2026 - 09:27 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^*

Kroeger Christopher A.

(Last)

(First)

(Middle)

C/O MAPLIGHT THERAPEUTICS, INC.

800 CHESAPEAKE DRIVE

(Street)

REDWOOD CITY

CALIFORNIA

94063

(City)

(State)

(Zip)

UNITED STATES

(Country)

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
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/18/2026		S⁽¹⁾		118,037	D	$27.19⁽²⁾	1,394,292	D
Voting Common Stock	05/18/2026		S⁽¹⁾		198	D	$28.15⁽³⁾	1,394,094	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)
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. This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 29, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.565 to $27.4347 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder 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 range set forth in this footnote.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.57 to $28.20 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder 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 range set forth in this footnote.

	/s/ Kristopher L. Hanson, Attorney-in-Fact	05/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did MapLight Therapeutics (MPLT) CEO Christopher Kroeger report in this Form 4?

Christopher A. Kroeger reported selling Voting Common Stock in two open-market transactions. He sold 118,235 shares on May 18, 2026 at weighted average prices of $27.19 and $28.15 per share, and continues to hold a large remaining stake.

How many MapLight Therapeutics (MPLT) shares did the CEO sell and at what prices?

The CEO sold a total of 118,235 shares of Voting Common Stock. One block of 118,037 shares was sold at a weighted average price of $27.19 and another 198 shares at $28.15, with trades executed across price ranges disclosed in the footnotes.

Was the MapLight Therapeutics (MPLT) CEO stock sale under a Rule 10b5-1 plan?

Yes. The filing states the transaction was made pursuant to a Rule 10b5-1 trading plan adopted on December 29, 2025. Such plans pre-schedule trades, indicating the timing of these May 18, 2026 sales was set in advance rather than decided opportunistically.

How many MapLight Therapeutics (MPLT) shares does the CEO own after these transactions?

After the reported sales, Christopher A. Kroeger directly holds 1,394,094 shares of Voting Common Stock. This indicates he retains a substantial equity position in MapLight Therapeutics even after selling 118,235 shares in the disclosed open-market transactions.

What does the weighted average price disclosure mean in the MPLT Form 4?

The Form 4 notes that the reported prices are weighted averages from multiple trades within specific ranges. For example, some shares were sold between $26.565 and $27.4347. The CEO undertakes to provide full price breakdowns to the issuer, shareholders, or SEC staff upon request.