Insider Howard Horn plans share sale in RARE (RARE)

Rhea-AI Filing Summary

Howard Horn filed a notice to sell 3,061 common shares through Morgan Stanley Smith Barney, with an aggregate market value of 72,117.16. The shares relate to restricted stock acquired from the issuer on 10/09/2024 and 10/09/2025. The planned sale is expected around 02/02/2026 on the NASDAQ, where 96,477,569 shares of this class were outstanding. In the prior three months, Howard Horn sold 3,081 shares for gross proceeds of 112,086.78 and 3,150 shares for 71,946.00.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	3061	72117.16	96477569	02/02/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/09/2024	Restricted Stock	Issuer			1744	10/09/2024	Not Applicable
Common	10/09/2025	Restricted Stock	Issuer			1317	10/09/2025	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
HOWARD HORN 60 Leveroni Court Novato CA 94949	Common	12/10/2025	3081	112086.78
HOWARD HORN 60 Leveroni Court Novato CA 94949	Common	01/02/2026	3150	71946.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 filing for RARE disclose about Howard Horn?

The notice shows Howard Horn plans to sell 3,061 common shares through Morgan Stanley Smith Barney. It also lists earlier three-month sales totaling 6,231 shares, with gross proceeds of 112,086.78 and 71,946.00 from two separate transactions.

How many RARE shares does Howard Horn currently plan to sell under this Form 144?

The filing covers a proposed sale of 3,061 common shares. These shares will be sold through Morgan Stanley Smith Barney, Executive Financial Services, with an aggregate market value of 72,117.16 based on the market data referenced in the notice.

When is Howard Horn’s planned RARE share sale expected to occur?

The approximate sale date stated is 02/02/2026. The filing identifies the NASDAQ as the securities exchange where the common shares are expected to be sold, using Morgan Stanley Smith Barney as the executing broker.

What were Howard Horn’s recent RARE share sales before this Form 144 notice?

In the past three months, he sold 3,081 common shares on 12/10/2025 for gross proceeds of 112,086.78, and 3,150 common shares on 01/02/2026 for gross proceeds of 71,946.00, according to the disclosure table.

How were the RARE shares in Howard Horn’s planned Form 144 sale originally acquired?

The shares relate to restricted stock acquired directly from the issuer. The filing lists 1,744 shares acquired on 10/09/2024 and 1,317 shares acquired on 10/09/2025, both identified as restricted stock transactions with payment described as not applicable.

How many RARE common shares are outstanding according to this Form 144?

The notice states that 96,477,569 common shares were outstanding. This figure provides context for the relative size of the planned 3,061-share sale compared with the total number of shares of this class in the market.