[Form 4] Pulse Biosciences, Inc Insider Trading Activity

Rhea-AI Filing Summary

Pulse Biosciences director and 10% owner Robert W. Duggan received two stock option grants on 08/15/2025 totaling 50,792 options to buy common stock at an exercise price of $16.16 per share. One option for 30,000 shares vests monthly over one year beginning 09/15/2025. The second option for 20,792 shares vests quarterly over one year beginning 09/05/2025. Both options expire 08/15/2035. The Form 4 was filed as a single reporting person filing and signed by an attorney-in-fact on 08/19/2025.

Positive

• Time-based vesting aligns the reporting person’s interests with the company by requiring continued service to realize value
• Clear disclosure of grant amounts, exercise price ($16.16), vesting commencement dates, and expiration (08/15/2035) enhances transparency

Negative

• Potential dilution if 50,792 options are exercised, which could modestly reduce existing shareholders’ ownership (absolute impact not provided)
• No information in this filing about the company’s total outstanding shares or market capitalization, so materiality cannot be quantified

Insights

Financial Analyst

TL;DR: Director received time-based options totaling 50,792 shares at $16.16, creating potential future dilution but aligning incentives.

The grants are time-based and vest over one year, which ties the director’s compensation to continued service rather than immediate sale. The exercise price of $16.16 establishes the economic entry point for share purchase; materiality depends on company market cap and outstanding shares, which are not provided here. This filing reports routine insider compensation rather than a change in control or secondary sale.

Corporate Governance Expert

TL;DR: These awards follow standard equity compensation patterns for executives/directors with staged vesting to retain leadership.

The staggered monthly and quarterly vesting schedules indicate retention-focused design. The director is also a 10% owner, so the grants may affect his overall ownership percentage modestly upon exercise. The Form 4 discloses execution and expiration dates clearly and was timely signed by an attorney-in-fact.

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 FL 33131

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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

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)	$16.16	08/15/2025		A		30,000		(1)	08/15/2035	Common Stock	30,000	$0	30,000	D
Stock Option (right to buy)	$16.16	08/15/2025		A		20,792		(2)	08/15/2035	Common Stock	20,792	$0	20,792	D

Explanation of Responses:

1. The shares subject to the option will vest in equal monthly installments over a one-year period, subject to the Reporting Person's continued service through each vesting date, with the first such installment occurring on September 15, 2025.

2. The shares subject to the option will vest in equal quarterly installments over a one-year period, subject to the Reporting Person's continued service through each vesting date, with the first such installment occurring on September 5, 2025.

	/s/ Kenneth B. Stratton, as Attorney-in-Fact	08/19/2025
	** 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 options did Robert W. Duggan receive according to the PLSE Form 4?

He received two stock option grants totaling 50,792 options: 30,000 and 20,792 options to buy common stock.

What is the exercise price and expiration date of the options reported on the PLSE Form 4?

The exercise price is $16.16 per share and both options expire on 08/15/2035.

When do the options begin vesting as disclosed in the Form 4 for PLSE?

The 30,000-option grant vests monthly over one year beginning 09/15/2025; the 20,792-option grant vests quarterly over one year beginning 09/05/2025.

What is Robert W. Duggan’s relationship to Pulse Biosciences in this filing?

The Form 4 lists him as a Director and a 10% owner of Pulse Biosciences.

When was the Form 4 filed and who signed it?

The Form 4 reports the transaction date as 08/15/2025 and was signed by Kenneth B. Stratton, as Attorney-in-Fact on 08/19/2025.