Pulse Biosciences Insider Trades: Uecker Sells 45K, Ends with 284,406 Shares
Rhea-AI Filing Summary
Darrin Uecker, Pulse Biosciences (PLSE) Chief Technology Officer and director, reported multiple scheduled trades under a Rule 10b5-1 plan on September 16-17, 2025. He sold 25,000 shares on 9/16 and 20,000 shares on 9/17 at weighted average prices of $16.28 and $16.21 respectively, and purchased shares the same days at an exercise price of $4 under stock options and via market purchases. After the reported transactions his beneficial ownership of common stock is stated as 284,406 shares. Several $4 stock options with various exercisable dates are listed, and the Form notes the trades were executed pursuant to a 10b5-1 plan adopted June 12, 2025.
Positive
- Executed trades under a documented Rule 10b5-1 plan, reducing insider timing concerns
- Reported beneficial ownership increased to 284,406 shares after the transactions
- Form discloses weighted-average sale price ranges and offers full price breakdown on request
Negative
- Insider sold 45,000 shares (25,000 on 9/16 and 20,000 on 9/17), representing a reduction in holdings at the time of sale
- Some derivative positions show zero remaining after transactions, which may reduce future option-driven purchases
Insights
TL;DR: Insider used a 10b5-1 plan to sell 45,000 shares while materially increasing direct holdings to 284,406 shares.
The Form 4 shows coordinated purchases and sales on September 16-17, 2025 under a pre-established Rule 10b5-1 plan adopted June 12, 2025. Reported sales total 45,000 shares at weighted average prices of $16.28 and $16.21. Reported acquisitions (including option exercises/market purchases) increased reported beneficial ownership to 284,406 shares. Options with $4 exercise prices and multiple underlying-share counts are disclosed, with varying post-transaction derivative totals. For investors, the filing documents insider liquidity executed under a trading plan while net direct ownership increased.
TL;DR: Transactions were executed under a documented 10b5-1 plan; disclosure appears complete and includes weighted-average sale prices.
The filing explicitly states the trades were effected pursuant to a Rule 10b5-1 trading plan adopted June 12, 2025, and provides weighted-average sale price ranges and an undertaking to provide per-price breakdowns if requested. Signature is by attorney-in-fact. The Form lists both direct holdings and derivative positions and references vesting tied to employment agreements. From a compliance perspective, the filing contains required details for scheduled insider trades.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 20,000 | $0.00 | -- |
| Exercise | Stock Option (right to buy) | 61,534 | $0.00 | -- |
| Exercise | Stock Option (right to buy) | 100,000 | $0.00 | -- |
| Exercise | Common Stock | 20,000 | $4.00 | $80K |
| Sale | Common Stock | 20,000 | $16.21 | $324K |
| Exercise | Common Stock | 61,534 | $4.00 | $246K |
| Exercise | Common Stock | 100,000 | $4.00 | $400K |
| Exercise | Stock Option (right to buy) | 25,000 | $0.00 | -- |
| Exercise | Common Stock | 25,000 | $4.00 | $100K |
| Sale | Common Stock | 25,000 | $16.28 | $407K |
Footnotes (1)
- These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 12, 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 $15.49 to $16.78 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. 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 $16.00 to $16.44 per share. 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. Incentive stock 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.
