ProMIS (PMN) Form 4: 60k-option grant to Principal Accounting Officer

Rhea-AI Filing Summary

Insider option grant reported for ProMIS Neurosciences (PMN). Max A. Milbury, listed as Principal Accounting Officer, was granted an option to purchase 60,000 common shares at an exercise price of $0.45 per share on 09/22/2025. The option has an expiration date of 09/22/2035. Vesting: 25% vests on 09/01/2026, with the remainder vesting ratably over the next 36 months. The filing was signed 09/24/2025 and is a single-person Form 4.

Positive

• Alignment of interests: Grant vests over multiple years, aligning the reporting person’s incentives with long-term shareholder value.
• Long-term incentive: 10-year option term provides extended upside potential contingent on company performance.

Negative

• Potential dilution: 60,000 shares will increase outstanding common shares if exercised; the filing does not state total shares outstanding so impact is unclear.
• Delayed vesting: Majority of the option is subject to multi-year vesting, so immediate retention benefit is limited.

Insights

Financial Analyst

TL;DR: Insider received a 10-year option for 60,000 shares at $0.45, aligning compensation with share performance but creating potential dilution.

The grant gives the Principal Accounting Officer upside if share price rises above $0.45 before 2035. The vesting schedule delays full ownership, which aligns incentives to long-term performance. For investors, materiality depends on company’s outstanding share count; the filing does not state total shares outstanding so the dilution impact cannot be quantified from this document alone.

Corporate Governance Expert

TL;DR: Standard long-term incentive with multi-year vesting; reflects retention and alignment, but requires context on total equity pool.

The structure—25% after ~1 year then ratable over 36 months—is a conventional retention schedule. The option’s 10-year term and low strike suggest potential value if the company grows. Without disclosure of grant approval authority or relative size versus total equity, governance implications (e.g., board oversight, plan limits) cannot be fully assessed from this single Form 4.

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^*

Milbury Max A.

(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)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Principal Accounting 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		60,000		(1)	09/22/2035	Common Shares	60,000	$0	60,000	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	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.

FAQ

What insider transaction was reported for ProMIS Neurosciences (PMN)?

Max A. Milbury was granted an option to buy 60,000 common shares at $0.45 per share on 09/22/2025, expiring 09/22/2035.

Who is the reporting person on the Form 4 for PMN?

The reporting person is Max A. Milbury, identified as the company's Principal Accounting Officer.

What is the vesting schedule for the option granted in the PMN Form 4?

The option vests: 25% on 09/01/2026, with the remaining balance vesting ratably over the following 36 months.

When was the Form 4 transaction and filing dated for PMN?

The transaction date is 09/22/2025 and the Form 4 was signed/filed on 09/24/2025.

What is the exercise price and expiration of the option reported for PMN?

The exercise price is $0.45 per share and the option expires on 09/22/2035.