Director Robert Duggan buys 660K Pulse Biosciences (PLSE) shares

Rhea-AI Filing Summary

PULSE BIOSCIENCES, INC. director and major shareholder Robert W. Duggan reported an open-market purchase of 660,233 shares of common stock at $19.69 per share. After this purchase, he directly owns 48,370,047 common shares.

He also has indirect holdings of 630,109 shares through Genius 24C Inc. and 450,189 shares through Blazon Corporation, where he is the sole shareholder. The shares were acquired through the company’s at-the-market equity offering program under an Equity Distribution Agreement with TD Securities (USA) LLC and include approximately 700 shares that were previously omitted from a Schedule 14A.

Insights

Insider trading analyst

Director Robert Duggan increased his Pulse Biosciences stake via a sizable open-market purchase.

Director and major holder Robert W. Duggan bought 660,233 common shares of PULSE BIOSCIENCES, INC. at $19.69 per share. This transaction is coded as an open-market purchase, indicating he committed fresh capital rather than simply exercising derivatives or receiving compensation shares.

Following the trade, he directly owns 48,370,047 shares and indirectly holds 630,109 shares through Genius 24C Inc. and 450,189 shares through Blazon Corporation, both wholly owned entities. The filing notes the shares were acquired through the company’s at-the-market equity offering program under an Equity Distribution Agreement dated February 19, 2026, at prevailing market bid prices during an open trading window.

The net effect is a meaningful but not transformative increase in an already large position, with no derivative positions reported and no mention of a Rule 10b5-1 trading plan. Actual market impact depends on broader trading activity and future company disclosures.

Insider Trade Summary

Net Buyer: 660,233 shares ($12,999,988)

Net Buy 3 txns

Insider DUGGAN ROBERT W

Role null

Bought 660,233 shs ($13.00M)

Type	Security	Shares	Price	Value
Purchase	Common Stock	660,233	$19.69	$13.00M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 48,370,047 shares (Direct, null); Common Stock — 630,109 shares (Indirect, Affiliated Company 1)

Footnotes (1)

1. The shares reported herein were acquired through the Company's at-the-market equity offering program established pursuant to that certain Equity Distribution Agreement, dated February 19, 2026, by and between the Company and TD Securities (USA) LLC, as sales agent. The shares were purchased during an open trading window under the Company's Insider Trading Policy and in accordance with applicable securities laws. The shares reported herein were acquired through the Company's at-the-market equity offering program at the prevailing market bid price or better at the time of sale. Includes approximately 700 shares inadvertently not reported in the Company's Schedule 14A filed on May 11, 2026. Shares are held by Genius 24C Inc., of which the Reporting Person is the sole shareholder. Shares are held by Blazon Corporation, of which the Reporting Person is the sole shareholder.

Key Figures

Shares purchased: 660,233 shares Purchase price: $19.69 per share Direct holdings after trade: 48,370,047 shares +4 more

7 metrics

Shares purchased 660,233 shares Open-market purchase of common stock on May 11, 2026

Purchase price $19.69 per share Price paid for 660,233 common shares

Direct holdings after trade 48,370,047 shares Common stock directly owned following the transaction

Indirect holdings Genius 24C Inc. 630,109 shares Common stock held indirectly through Genius 24C Inc.

Indirect holdings Blazon Corporation 450,189 shares Common stock held indirectly through Blazon Corporation

Equity Distribution Agreement date February 19, 2026 Date of ATM Equity Distribution Agreement with TD Securities (USA) LLC

Previously unreported shares approximately 700 shares Shares omitted from Schedule 14A now included in total

Key Terms

at-the-market equity offering program, Equity Distribution Agreement, prevailing market bid price, Schedule 14A, +1 more

5 terms

at-the-market equity offering program financial

"The shares reported herein were acquired through the Company's at-the-market equity offering program established pursuant to that certain Equity Distribution Agreement..."

A program that lets a company sell newly issued shares directly into the open market at whatever the current trading price is, usually through a broker, and do so gradually over time instead of all at once. Investors care because it can dilute existing ownership and put steady selling pressure on the stock price, while giving the company a flexible, on-demand way to raise cash — like adding small amounts of water to a pool rather than dumping in a bucket.

Equity Distribution Agreement financial

"at-the-market equity offering program established pursuant to that certain Equity Distribution Agreement, dated February 19, 2026..."

An equity distribution agreement is a formal plan between a company and financial institutions to sell newly issued shares of the company's stock to investors over a period of time. It helps the company raise money gradually, similar to filling a container with water in stages, rather than all at once. For investors, it provides an organized way to buy shares and can influence the stock's supply and price.

prevailing market bid price financial

"acquired through the Company's at-the-market equity offering program at the prevailing market bid price or better at the time of sale."

Schedule 14A regulatory

"Includes approximately 700 shares inadvertently not reported in the Company's Schedule 14A filed on May 11, 2026."

Schedule 14A is a document that companies file with regulators to share important information with shareholders before a big vote, like approving a merger or election of directors. It matters because it helps investors understand what’s happening so they can make informed decisions about the company’s future.

open-market purchase financial

"transaction_action": "open-market purchase", "transaction_code_description": "Purchase in open market or private transaction""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Form 4 Insider Transactions: What Each Field Means →

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^*

DUGGAN ROBERT W

(Last) (First) (Middle)

601 BRICKELL KEY DRIVE

SUITE 1080

(Street)

MIAMI FLORIDA 33131

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PULSE BIOSCIENCES, INC. [ PLSE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/11/2026

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)
05/11/2026

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
Common Stock	05/11/2026		P(1)		660,233	A	$19.69(2)	48,370,047(3)	D
Common Stock								630,109	I	Affiliated Company 1(4)
Common Stock								450,189	I	Affiliated Company 2(5)

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

Explanation of Responses:

1. The shares reported herein were acquired through the Company's at-the-market equity offering program established pursuant to that certain Equity Distribution Agreement, dated February 19, 2026, by and between the Company and TD Securities (USA) LLC, as sales agent. The shares were purchased during an open trading window under the Company's Insider Trading Policy and in accordance with applicable securities laws.

2. The shares reported herein were acquired through the Company's at-the-market equity offering program at the prevailing market bid price or better at the time of sale.

3. Includes approximately 700 shares inadvertently not reported in the Company's Schedule 14A filed on May 11, 2026.

4. Shares are held by Genius 24C Inc., of which the Reporting Person is the sole shareholder.

5. Shares are held by Blazon Corporation, of which the Reporting Person is the sole shareholder.

	/s/ Kenneth B. Stratton, as Attorney-in-Fact	05/15/2026
	** 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)

FAQ

What did Robert W. Duggan report in his latest Form 4/A for PLSE?

Robert W. Duggan reported buying 660,233 shares of Pulse Biosciences common stock at $19.69 per share. After this transaction, he directly owns 48,370,047 shares, plus additional indirect holdings through two affiliated corporations he wholly owns.

At what price did Robert W. Duggan buy PLSE shares in this filing?

He bought Pulse Biosciences common stock at $19.69 per share. The purchase covered 660,233 shares and was executed through the company’s at-the-market equity offering program at prevailing market bid prices or better, according to the filing footnotes.

How many Pulse Biosciences (PLSE) shares does Robert W. Duggan hold after this transaction?

After the reported trade, he directly holds 48,370,047 Pulse Biosciences common shares. He also indirectly owns 630,109 shares via Genius 24C Inc. and 450,189 shares via Blazon Corporation, both entities where he is the sole shareholder, according to the disclosure.

How were the PLSE shares in Robert W. Duggan’s Form 4/A acquired?

The shares were acquired through Pulse Biosciences’ at-the-market equity offering program under an Equity Distribution Agreement with TD Securities (USA) LLC. Transactions occurred at the prevailing market bid price or better during an open trading window under the company’s insider trading policy.

Does the Form 4/A for PLSE mention any previously unreported shares?

Yes. The filing states that the reported holdings include approximately 700 shares that were inadvertently not reported in Pulse Biosciences’ Schedule 14A filed on May 11, 2026. This corrects the prior disclosure while consolidating Duggan’s beneficial ownership totals.

Are any of Robert W. Duggan’s PLSE holdings indirect through affiliated entities?

Yes. The filing shows 630,109 shares held by Genius 24C Inc. and 450,189 shares held by Blazon Corporation. Both entities are wholly owned by Duggan, making these indirect holdings in Pulse Biosciences common stock attributed to him as the sole shareholder.