[Form 4] PULSE BIOSCIENCES, INC. Insider Trading Activity

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

Insider Trading / Compensation Analyst

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.

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).

X

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^*

Danahy Kevin Patrick

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

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	10/02/2025		M(1)		4,600	A	$1.53	47,898	D
Common Stock	10/02/2025		S(1)		4,600	D	$18.53(2)	43,298	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)	$1.53	10/02/2025		M(1)			4,600	(3)	09/23/2032	Common Stock	4,600	$0	425,000	D

Explanation of Responses:

1. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 14, 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 $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.

3. 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.

	/s/ Kenneth B. Stratton, as Attorney-in-Fact	10/07/2025
	** 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 the Pulse Biosciences (PLSE) insider do on 10/02/2025?

The Chief Commercial Officer exercised 4,600 options at $1.53 and sold the resulting 4,600 shares at a weighted average of $18.53, under a Rule 10b5-1 plan.

How many PLSE shares does the reporting person own after the transactions?

The reporting person beneficially owned 43,298 shares of common stock following the reported transactions.

What option holdings remain after this Form 4 filing for PLSE?

The filing shows options to acquire 425,000 shares exercisable through 09/23/2032, granted on 09/23/2022.

Were the transactions pre-planned under an automatic trading plan?

Yes. The transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on 05/14/2025.

What prices were involved in the insider sale reported for PLSE?

The insider sold shares at a weighted average price of $18.53 per share; individual sale prices ranged from $18.48 to $18.65.