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ProMIS Neurosciences (PMN) CEO Receives 600K Options with 2035 Expiry

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Neil K. Warma, Chief Executive Officer and Director of ProMIS Neurosciences Inc. (PMN), reported a Section 16 transaction on Form 4 showing the acquisition of derivative securities on 09/22/2025. The filing records an award of 600,000 stock options with an exercise price of $0.45 that expire on 09/22/2035. Following the reported transaction, Mr. Warma beneficially owns 600,000 options directly. The options vest with 25% vesting on September 1, 2026 and the remainder vesting ratably over the following 36 months. The Form 4 was signed by an attorney-in-fact on 09/24/2025.

Positive

  • None.

Negative

  • None.

Insights

TL;DR: CEO received a sizable option grant with multi-year vesting, aligning long-term incentives with shareholder outcomes.

The award of 600,000 options at $0.45 with a ten-year term and staged vesting is a common executive compensation structure to retain management and align incentives. The 25% cliff at one year followed by 36-month ratable vesting ties CEO rewards to continued service and potential performance through 2029. Materiality for shareholders depends on current share count and potential dilution if options are exercised; the filing does not disclose total outstanding shares, so dilution impact cannot be quantified here.

TL;DR: Insider received options priced at $0.45, exercisable over a decade, creating potential future dilution but indicating insider confidence.

The Form 4 confirms a direct acquisition of 600,000 options exercisable through 2035. The exercise price is explicit at $0.45 and the vesting schedule delays full ownership until after the initial cliff and subsequent three-year vesting period. This transaction is informational for investors monitoring insider incentives and possible future share issuance upon exercise; the filing contains no revenue, earnings, or outstanding share totals to assess proportional impact.

Insider Warma Neil K
Role Chief Executive Officer
Type Security Shares Price Value
Grant/Award Option (right to buy) 600,000 $0.00 $0.00
Holdings After Transaction: Option (right to buy) — 600,000 shares (Direct)
Footnotes (1)
  1. F1. 25% of the shares subject to this option shall vest on September 1, 2026, and the balance shall vest ratably over 36 months

FAQ

What did PMN insider Neil K. Warma acquire on the Form 4?
The filing shows an acquisition of 600,000 stock options with an exercise price of $0.45 dated 09/22/2025.

When do the options vest for PMN CEO Neil K. Warma?
The options vest with 25% on September 1, 2026 and the remaining balance vests ratably over the following 36 months.

What is the expiration date of the options reported for PMN?
The options have an expiration date of 09/22/2035.

How many options does Neil K. Warma beneficially own after the transaction?
Following the reported transaction, Mr. Warma beneficially owns 600,000 options directly.

Who signed the Form 4 for Neil K. Warma and when?
The Form 4 was signed by Max A. Milbury, Attorney in Fact on 09/24/2025.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →
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).
1. Name and Address of Reporting Person*
Warma Neil K
(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 Executive 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 600,000 (1) 09/22/2035 Common Shares 600,000 $0 600,000 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 Warma 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.
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.

Source: View Original Filing on SEC EDGAR