PMN Form 4: Chief Scientific Officer granted 165,000 options

Rhea-AI Filing Summary

ProMIS Neurosciences (PMN) reported an insider option grant to Neil Cashman, who serves as a director and Chief Scientific Officer. The report shows an option to purchase 165,000 common shares with a $0.45 exercise price, granted with a transaction date of 09/22/2025. The option becomes exercisable on 09/22/2025 and expires on 09/22/2035. Vesting is specified: 25% vests on September 1, 2026 and the remainder vests ratably over the following 36 months. The Form 4 was signed by an attorney-in-fact for Mr. Cashman on 09/24/2025. The filing reflects a non-derivative underlying position of 165,000 common shares after the reported transaction.

Positive

• Alignment of interest: Grant ties the Chief Scientific Officer and director's incentives to shareholder value via a performance-linked equity instrument.
• Retention-focused vesting: 25% vests after one year and the remainder vests over 36 months, which encourages continued service.

Negative

• Potential dilution: The 165,000-share option increases potential outstanding shares if exercised, affecting existing shareholders.
• Limited disclosure on financial impact: The filing does not state the option's accounting expense or effect on fully diluted shares.

Insights

Securities Analyst

TL;DR: Insider option grant of 165,000 shares at $0.45 aligns executive incentives but creates potential dilution.

The grant to Neil Cashman is a standard equity-based compensation tool that ties long-term executive incentives to share-price performance. Key facts are the 165,000-share option, $0.45 exercise price, immediate exercisability date listed as 09/22/2025, and a 10-year term to 09/22/2035. The vesting schedule—25% on 09/01/2026 then monthly or ratable vesting over 36 months—conditions full economic benefit on continued service. For investors, the item is material as a corporate governance and compensation disclosure but does not on its own indicate operational or financial performance changes.

Corporate Governance Expert

TL;DR: The award follows common governance practice; vesting schedule supports retention but increases outstanding derivative claims on equity.

The Form 4 identifies Mr. Cashman as both a director and the Chief Scientific Officer, and the option grant is recorded under Section 16 reporting rules. The vesting structure (25% after ~12 months, remainder over 36 months) is a retention-oriented design. The exercise price at $0.45 and a ten-year term are typical for incentive grants. Materiality is limited to compensation disclosure and potential dilution; the filing does not disclose the grant’s accounting expense, impact on fully diluted share count, or approval details.

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

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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).

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^*

Cashman Neil

(Last) (First) (Middle)

C/O PROMIS NEUROSCIENCES INC.

SUITE 200, 1920 YONGE STREET

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Scientific 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 Neil Cashman	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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What transaction did Neil Cashman report on Form 4 for PMN?

The Form 4 reports an option grant of 165,000 shares with a $0.45 exercise price, transaction dated 09/22/2025.

When does the option granted to Neil Cashman vest and expire?

Vesting: 25% on September 1, 2026, remainder vests ratably over 36 months. Expiration: 09/22/2035.

What roles does the reporting person hold at ProMIS Neurosciences (PMN)?

The filing lists Neil Cashman as a Director and the company's Chief Scientific Officer.

Who signed the Form 4 and when was it signed?

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

Is the option exercisable immediately and what is the exercise price?

The Form lists an exercise date of 09/22/2025 and an exercise price of $0.45 per share.