[144] Pulse Biosciences, Inc SEC Filing

Rhea-AI Filing Summary

Pulse Biosciences (PLSE) reported a Form 144 notice showing a proposed sale of 120,000 common shares by means of a broker, with an aggregate market value of $1,772,400 and an approximate sale date of 09/11/2025 on NASDAQ. The filing states the shares were acquired and paid for on 09/11/2025 through the exercise of stock options issued by the company, with payment made in cash. The broker listed is Morgan Stanley Smith Barney LLC. The filer also disclosed two prior open-market sales by the same person in June 2025 totaling 30,000 shares for gross proceeds of $485,700. The notice includes the standard representation that the seller is unaware of any undisclosed material adverse information.

Positive

• Transparent compliance: the filer provided required Rule 144 details including broker, acquisition method, and prior recent sales
• Securities acquired by exercise: the 120,000 shares were obtained by option exercise, indicating gain realization rather than transfer from third parties

Negative

• Insider monetization: proposed sale of 120,000 shares valued at $1,772,400 could exert downward pressure on the stock and may concern investors monitoring insider selling
• Recent sales pattern: prior disposals of 30,000 shares in June 2025 for $485,700 suggest continued liquidity events by the same person

Insights

Securities Analyst

TL;DR: Insider exercise followed by planned sale of 120,000 shares totaling $1.77M; routine disclosure, likely neutral to modestly negative for sentiment.

The filing documents an option exercise and same-day proposed sale of 120,000 common shares via Morgan Stanley Smith Barney, indicating liquidity realization by an insider or option holder. The transaction size of $1.77M is material enough to attract investor attention but does not itself indicate operational issues. Prior sales of 30,000 shares in June 2025 yielded $485,700, showing recent ongoing monetization. From a valuation perspective, these are supply-side events that could exert modest downward pressure on short-term share price but are ordinary for insiders monetizing option gains.

Corporate Governance Expert

TL;DR: The Form 144 is a routine compliance disclosure tied to an option exercise; it signals transparency but may raise governance questions about insider selling cadence.

The notice complies with Rule 144 disclosure requirements by specifying broker, share count, aggregate value, acquisition method, and recent dispositions. The fact that the shares were acquired via option exercise and immediately slated for sale is common practice but merits attention to insider selling patterns and whether sales follow any 10b5-1 plan; no plan adoption date is provided in the remarks. The seller's attestation that no undisclosed material adverse information exists is included, satisfying the form's signature representation.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	120000	1772400.00	67278347	09/11/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/11/2025	Exercise of Stock Options	Issuer			120000	09/11/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
DARRIN UECKER 601 Brickell Key Drive, Suite 1080 Miami FL 33131	Common	06/13/2025	15000	239700.00
DARRIN UECKER 601 Brickell Key Drive, Suite 1080 Miami FL 33131	Common	06/12/2025	15000	246000.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Pulse Biosciences' (PLSE) Form 144 disclose?

The Form 144 discloses a proposed sale of 120,000 common shares via Morgan Stanley Smith Barney with an aggregate market value of $1,772,400, acquired and paid for by exercise of options on 09/11/2025.

When is the approximate sale date listed on the Form 144 for PLSE?

The approximate date of sale provided in the filing is 09/11/2025.

How were the 120,000 Pulse Biosciences shares acquired?

The filing states the shares were acquired on 09/11/2025 by exercise of stock options issued by the company, with payment in cash.

Has the seller recently sold other PLSE shares?

Yes. The seller reported sales of 15,000 shares on 06/12/2025 and 15,000 shares on 06/13/2025, generating gross proceeds of $246,000 and $239,700, respectively.

Which broker is handling the proposed sale?

The listed broker is Morgan Stanley Smith Barney LLC, Executive Financial Services, New York, NY.