ProMIS Neurosciences Insider Grant: 165K Options to Chief Medical Officer

Rhea-AI Filing Summary

Larry Douglas Altstiel, Chief Medical Officer and director of ProMIS Neurosciences Inc. (PMN), was granted stock options on 09/22/2025. The Form 4 reports an award of 165,000 option rights to purchase common shares at an exercise price of $0.45 per share. The instrument is an option with an expiration tied to 09/22/2035. The reporting person beneficially owns 165,000 shares following the transaction and these holdings are listed as direct ownership. Per the filing, 25% of the option shares vest on September 1, 2026 and the remainder vests ratably over the following 36 months. The Form 4 was signed by an attorney-in-fact on 09/24/2025.

Positive

• 165,000 option grant to the Chief Medical Officer aligns executive incentives with shareholder value creation
• Clear vesting schedule: 25% on 09/01/2026 then ratable vesting over 36 months supports retention

Negative

• Potential dilution of common shares if 165,000 options are exercised
• No performance-based vesting disclosed; vesting appears time-based only

Insights

Securities Analyst

TL;DR: Routine executive option grant to align incentives; raises modest dilution over time.

The filing documents a standard equity compensation grant to a named executive officer and director: 165,000 options at a $0.45 strike, exercisable under the stated schedule and expiring in 2035. Vesting commences with a 25% cliff on September 1, 2026, then ratable vesting over 36 months, which ties long-term retention to company performance and tenure. For investors, this is a non-cash expense that could dilute equity if exercised but is a common corporate governance practice to align management and shareholder interests. The transaction was reported promptly via Form 4.

Corporate Governance Expert

TL;DR: Grant appears procedurally standard; vesting schedule enforces continued service before full benefit accrues.

This disclosure shows a typical incentive structure: a multi-year vesting schedule with an initial 25% vesting event followed by monthly or periodic ratable vesting over three years. The award is reported as direct beneficial ownership, and the Form 4 was executed by an attorney-in-fact, indicating delegated filing authority. There is no evidence in the filing of acceleration clauses, cash payments, or other unusual terms. Materiality is limited to the dilution potential and governance alignment inherent in equity grants.

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

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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^*

ALTSTIEL LARRY DOUGLAS

(Last) (First) (Middle)

C/O 1920 YONGE ST

STE 200

(Street)

TORONTO A6 M4S 3E2

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ProMIS Neurosciences Inc. [ PMN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025

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
Option (right to buy)	$0.45	09/22/2025		A		165,000		(1)	09/22/2035	Common Shares	165,000	$0	165,000	D

Explanation of Responses:

1. 25% of the shares subject to this option shall vest on September 1, 2026, and the balance shall vest ratably over 36 months

	/s/ Max A. Milbury, Attorney in Fact for Larry Altstiel	09/24/2025
	** 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).
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FAQ

What did ProMIS Neurosciences (PMN) report on Form 4 for Larry Altstiel?

The Form 4 reports a grant of 165,000 options to purchase common shares at a $0.45 exercise price, granted on 09/22/2025.

When do the options granted to PMN's Chief Medical Officer vest?

Per the filing, 25% vest on September 1, 2026, with the remaining shares vesting ratably over 36 months thereafter.

How many shares does Larry Altstiel beneficially own after the reported transaction?

The filing shows 165,000 shares beneficially owned following the reported transaction, listed as direct ownership.

What is the option expiration date reported in the Form 4?

The Form 4 indicates an expiration tied to 09/22/2035 for the option instrument.

Who signed the Form 4 filing for Larry Altstiel?

The Form 4 was signed by Max A. Milbury, Attorney in Fact for Larry Altstiel on 09/24/2025.