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Director Garnett of MapLight (NASDAQ: MPLT) receives RSUs and options grant

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

MapLight Therapeutics director Timothy John Garnett received new equity awards as part of non-employee director compensation. He was granted 3,932 restricted stock units, each representing one share of voting common stock, and a stock option for 14,902 shares at an exercise price of $28.64 per share.

Both the RSUs and the option vest on the earlier of June 23, 2027 or the company’s next annual stockholder meeting, subject to his Continuous Service under the 2025 Equity Incentive Plan. Following these awards, he holds 53,457 shares directly and 14,124 shares indirectly through the Timothy J Garnett Revocable Trust, where he has voting and dispositive power.

Positive

  • None.

Negative

  • None.
Insider Garnett Timothy John
Role null
Type Security Shares Price Value
Grant/Award Stock Option (right to buy) 14,902 $0.00 --
Grant/Award Voting Common Stock 3,932 $0.00 --
holding Voting Common Stock -- -- --
Holdings After Transaction: Stock Option (right to buy) — 14,902 shares (Direct, null); Voting Common Stock — 53,457 shares (Direct, null); Voting Common Stock — 14,124 shares (Indirect, See footnote)
Footnotes (1)
  1. Represents restricted stock units ("RSUs") granted pursuant to the Issuer's 2025 Equity Incentive Plan (the "Plan"). The RSUs will vest on the earlier of (i) June 23, 2027, or (ii) the date of the Issuer's next annual stockholder meeting, subject to the Continuous Service (as defined in the Plan) of the Reporting Person as of the applicable vesting date. This grant was made pursuant to the Issuer's non-employee director compensation policy. Each RSU represents a contingent right to receive one share of voting common stock of the Issuer. The shares are held by the Timothy J Garnett Revocable Trust Dated U/A 09/22/2021, of which the Reporting Person is the sole trustee and has voting and dispositive power. Represents a stock option granted pursuant to the Plan. The shares subject to this stock option will vest on the earlier of (i) June 23, 2027, or (ii) the date of the Issuer's next annual stockholder meeting, subject to the Continuous Service (as defined in the Plan) of the Reporting Person as of the applicable vesting date. This grant was made pursuant to the Issuer's non-employee director compensation policy.
RSU grant size 3,932 units Restricted stock units granted June 23, 2026
Stock option grant 14,902 shares Option to buy voting common stock granted June 23, 2026
Option exercise price $28.64/share Stock option exercise price under 2025 Equity Incentive Plan
Option expiration June 22, 2036 Expiration date of 14,902-share stock option
Direct holdings after grant 53,457 shares Voting common stock held directly after transactions
Indirect holdings via trust 14,124 shares Voting common stock held by Timothy J Garnett Revocable Trust
Vesting trigger date June 23, 2027 Latest vesting date for RSUs and stock option, or earlier annual meeting
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs") granted pursuant to the Issuer's 2025 Equity Incentive Plan"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
2025 Equity Incentive Plan financial
"granted pursuant to the Issuer's 2025 Equity Incentive Plan (the "Plan")"
Continuous Service financial
"subject to the Continuous Service (as defined in the Plan) of the Reporting Person"
non-employee director compensation policy financial
"This grant was made pursuant to the Issuer's non-employee director compensation policy."
stock option financial
"Represents a stock option granted pursuant to the Plan."
A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.
voting and dispositive power financial
"of which the Reporting Person is the sole trustee and has voting and dispositive power."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Garnett Timothy John
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/23/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Voting Common Stock06/23/2026A3,932(1)A$0(2)53,457D
Voting Common Stock14,124ISee footnote(3)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Option (right to buy)$28.6406/23/2026A14,902 (4)06/22/2036Voting Common Stock14,902$014,902D
Explanation of Responses:
1. Represents restricted stock units ("RSUs") granted pursuant to the Issuer's 2025 Equity Incentive Plan (the "Plan"). The RSUs will vest on the earlier of (i) June 23, 2027, or (ii) the date of the Issuer's next annual stockholder meeting, subject to the Continuous Service (as defined in the Plan) of the Reporting Person as of the applicable vesting date. This grant was made pursuant to the Issuer's non-employee director compensation policy.
2. Each RSU represents a contingent right to receive one share of voting common stock of the Issuer.
3. The shares are held by the Timothy J Garnett Revocable Trust Dated U/A 09/22/2021, of which the Reporting Person is the sole trustee and has voting and dispositive power.
4. Represents a stock option granted pursuant to the Plan. The shares subject to this stock option will vest on the earlier of (i) June 23, 2027, or (ii) the date of the Issuer's next annual stockholder meeting, subject to the Continuous Service (as defined in the Plan) of the Reporting Person as of the applicable vesting date. This grant was made pursuant to the Issuer's non-employee director compensation policy.
/s/ Kristopher L. Hanson, Attorney-in-Fact06/25/2026
** Signature of Reporting PersonDate
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 insider transactions did MapLight Therapeutics (MPLT) report for Timothy John Garnett?

MapLight Therapeutics reported that director Timothy John Garnett received 3,932 restricted stock units and a stock option for 14,902 shares. These awards were granted at no cash cost as part of the company’s non-employee director compensation policy under its 2025 Equity Incentive Plan.

How many MapLight Therapeutics (MPLT) shares does Timothy John Garnett hold after this Form 4?

After these transactions, Timothy John Garnett holds 53,457 shares of MapLight Therapeutics voting common stock directly and 14,124 shares indirectly. The indirect shares are held in the Timothy J Garnett Revocable Trust, for which he serves as sole trustee with voting and dispositive power.

What are the vesting terms for Timothy John Garnett’s new MPLT restricted stock units?

The 3,932 restricted stock units granted to Timothy John Garnett vest on the earlier of June 23, 2027 or the date of MapLight Therapeutics’ next annual stockholder meeting. Vesting is conditioned on his Continuous Service, as defined in the company’s 2025 Equity Incentive Plan.

What are the key terms of Timothy John Garnett’s new MPLT stock option grant?

Garnett’s stock option covers 14,902 shares of MapLight Therapeutics voting common stock at an exercise price of $28.64 per share. The option vests on the earlier of June 23, 2027 or the next annual stockholder meeting and expires on June 22, 2036, subject to Continuous Service.

Are Timothy John Garnett’s new MPLT equity awards open-market purchases or compensation grants?

The reported transactions are compensation-related grants, not open-market purchases. Both the 3,932 restricted stock units and the option for 14,902 shares were awarded at a price of $0.00 per unit under MapLight Therapeutics’ non-employee director compensation policy.

How is the Timothy J Garnett Revocable Trust involved in MPLT share ownership?

The Form 4 shows 14,124 MPLT shares held by the Timothy J Garnett Revocable Trust dated September 22, 2021. Garnett is the sole trustee and has voting and dispositive power over these shares, which are reported as indirect beneficial ownership on the filing.