Pulse Biosciences CCO used 10b5-1 plan to sell 4,600 shares at $18.53
Rhea-AI Filing Summary
Pulse Biosciences insider transactions on 10/02/2025: The company's Chief Commercial Officer exercised 4,600 stock options at an exercise price of $1.53 and simultaneously sold those 4,600 shares at a weighted average price of $18.53 per share under a Rule 10b5-1 trading plan. After these transactions the reporting person beneficially owned 43,298 shares of common stock and held options to acquire 425,000 shares that expire on 09/23/2032. The Form 4 discloses the 10b5-1 plan adoption date of 05/14/2025 and notes the option grant date of 09/23/2022 with a four-year vesting schedule.
Positive
- Use of a Rule 10b5-1 trading plan provides a documented, pre-arranged compliance mechanism for the transactions
- Large remaining option pool: reporting person holds options to acquire 425,000 shares, aligning compensation with long-term service
Negative
- Insider sale of 4,600 shares at a weighted average of $18.53 realizes liquidity and could increase available float in short term
- Concentrated option exposure: 425,000 options remain exercisable through 09/23/2032, representing potential future dilution if exercised
Insights
TL;DR: Executive exercised low-cost options and sold the same-day shares under a 10b5-1 plan.
The reporting person exercised $1.53 strike options to acquire 4,600 shares and sold them at a weighted average of $18.53 on 10/02/2025, producing a material per-share spread. The transactions were executed under a Rule 10b5-1 plan adopted on 05/14/2025, which documents pre-arranged trading instructions.
The reporting person retains 43,298 shares and options for 425,000 shares exercisable through 09/23/2032; the options were granted on 09/23/2022 with standard annual vesting. Watch for future scheduled option vesting dates and any additional 10b5-1 disclosures that would affect near-term insider liquidity.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 4,600 | $0.00 | -- |
| Exercise | Common Stock | 4,600 | $1.53 | $7K |
| Sale | Common Stock | 4,600 | $18.53 | $85K |
Footnotes (1)
- These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 14, 2025. 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 $18.48 to $18.65 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. Options granted on September 23, 2022, to acquire up to 450,000 shares of Common Stock, in connection with reporting person's promotion, with 25% vesting on each anniversary of grant, pursuant to the terms of an amendment to reporting person's Employment Agreement dated February 9, 2022.
