Pulse Biosciences (PLSE) Form 4: 75,000-Share Sales Following $4 Option Exercises

Rhea-AI Filing Summary

PULSE BIOSCIENCES insider transactions: Darrin Uecker, Chief Technology Officer and director, executed option exercises and sales under a Rule 10b5-1 plan adopted June 12, 2025. On 09/11/2025, 09/12/2025 and 09/15/2025 he exercised three separate $4 stock option tranches of 25,000 shares each and contemporaneously sold 25,000 shares on each date. The reported weighted-average sale prices ranged by date: $14.41–$15.14 (09/11 weighted $14.78), $13.80–$14.76 (09/12 weighted $14.32), and $15.18–$17.20 (09/15 weighted $15.77). Following the transactions the filings show beneficial ownership positions reported in the Form 4 tables (e.g., 122,872 shares on the non-derivative table after sales). The options became fully vested on September 8, 2019 per the employment agreement.

Positive

• Transactions were executed pursuant to a Rule 10b5-1 plan, indicating pre-established trading instructions adopted June 12, 2025.
• Options exercised were previously vested (vested date September 8, 2019), showing no new acceleration of equity compensation.

Negative

• Reporting person sold 75,000 shares across three dates (09/11/2025, 09/12/2025, 09/15/2025).
• Beneficial ownership decreased on a reported basis after the sales (non-derivative holdings shown as 122,872 shares following sales).

Insights

Corporate Governance Expert

TL;DR: Routine insider option exercises and sales executed under a pre-established 10b5-1 plan, disclosed with price ranges and post-transaction holdings.

These transactions are standard for executives exercising vested options and monetizing a portion of shares through a 10b5-1 plan, which provides pre-planned trading authorization and helps avoid claims of opportunistic trading. The filing documents exercise at a $4 strike and simultaneous sales across three dates totaling 75,000 shares sold. The report also discloses the options' vesting date, tying the exercises to previously vested compensation rather than new grants.

Securities Analyst

TL;DR: Insider sold 75,000 shares in three executed blocks with disclosed weighted-average sale prices; transaction appears procedural, not signal of unknown events.

The Form 4 provides specific mechanics: three exercises of 25,000-share options at $4 and corresponding sales with weighted-average sale prices disclosed per date and ranges for actual prices received. Post-transaction beneficial ownership figures are reported in the Form 4 tables. From an investor-impact perspective, these are material for share supply and insider ownership metrics but do not, by themselves, reveal company performance changes.

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).

1. Name and Address of Reporting Person^*

UECKER DARRIN

(Last) (First) (Middle)

C/O PULSE BIOSCIENCES, INC.

3957 POINT EDEN WAY

(Street)

HAYWARD CA 94545

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/11/2025		M(1)		25,000	A	$4	147,872	D
Common Stock	09/11/2025		S(1)		25,000	D	$14.78(2)	122,872	D
Common Stock	09/12/2025		M(1)		25,000	A	$4	147,872	D
Common Stock	09/12/2025		S(1)		25,000	D	$14.32(3)	122,872	D
Common Stock	09/15/2025		M(1)		25,000	A	$4	147,872	D
Common Stock	09/15/2025		S(1)		25,000	D	$15.77(4)	122,872	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$4	09/11/2025		M(1)			25,000	09/08/2019(5)	09/20/2025	Common Stock	25,000	$0	156,534	D
Stock Option (right to buy)	$4	09/12/2025		M(1)			25,000	09/08/2019(5)	09/20/2025	Common Stock	25,000	$0	131,534	D
Stock Option (right to buy)	$4	09/15/2025		M(1)			25,000	09/08/2019(5)	09/20/2025	Common Stock	25,000	$0	106,534	D

Explanation of Responses:

1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 12, 2025.

2. The price in column 4 is the weighted average price per share sold. The price per share actually received by the Reporting Person ranged from $14.41 to $15.14 per share. For all transactions reported in this Form 4 using a weighted average price, the Reporting Person undertakes upon request by the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each separate price within the range.

3. The price in column 4 is the weighted average price per share sold. The price per share actually received by the Reporting Person ranged from $13.80 to $14.76 per share.

4. The price in column 4 is the weighted average price per share sold. The price per share actually received by the Reporting Person ranged from $15.18 to $17.20 per share.

5. Options granted in connection with Reporting Person's hire became fully vested upon the four year anniversary of his Start Date, September 8, 2019, pursuant to the terms of his Employment Agreement dated September 8, 2015.

	/s/ Kenneth B. Stratton, as Attorney-in-Fact	09/15/2025
	** 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.

FAQ

What did PLSE insider Darrin Uecker do on 09/11–09/15/2025?

He exercised three stock option tranches of 25,000 shares each at a $4 strike and sold 25,000 shares on each of 09/11, 09/12, and 09/15/2025 under a 10b5-1 plan.

Were the option grants vested when exercised by the PLSE reporting person?

Yes. The options became fully vested on September 8, 2019 per the employment agreement disclosed in the Form 4.

What sale prices were reported for the PLSE insider sales?

Weighted-average sale prices reported were $14.78 (09/11), $14.32 (09/12), and $15.77 (09/15) with disclosed ranges for actual prices received on each date.

Was a trading plan used for these PLSE transactions?

Yes. The Form 4 states the trades were effected pursuant to a Rule 10b5-1 trading plan adopted June 12, 2025.

How many shares did the reporting person beneficially own after the reported sales?

The non-derivative table reports 122,872 shares beneficially owned following the reported sales.