[Form 4] SELECT MEDICAL HOLDINGS CORP Insider Trading Activity

Rhea-AI Filing Summary

On 31 Jul 2025, LENZ Therapeutics, Inc. filed a Form 8-K to report a material corporate event under Item 8.01.

The filing states that the U.S. Food and Drug Administration has approved LNZ100 in the United States. Additional details are contained in the accompanying press release (Exhibit 99.1). No financial statements, earnings figures or guidance were provided. Exhibit 104 includes the Inline XBRL cover-page tags. The report was signed by Chief Financial Officer Daniel Chevallard.

• Event date: 31 Jul 2025
• Regulatory milestone: FDA approval of LNZ100
• No other items or financial disclosures reported

Positive

• FDA approval of LNZ100 marks a significant regulatory milestone satisfying the primary requirement for U.S. market entry.

Negative

• None.

Insights

Regulatory Affairs Analyst

TL;DR: FDA approval of LNZ100 is the sole focus of this 8-K and represents a clear positive regulatory milestone for LENZ.

LENZ’s disclosure is concise: Item 8.01 confirms U.S. approval of LNZ100 and attaches the press release as Exhibit 99.1. Although the filing omits commercial timelines or financial projections, FDA approval itself removes the principal regulatory hurdle for LNZ100’s U.S. launch. Such clearance typically accelerates market access and may trigger milestone payments or partnerships, but the company has not disclosed any related arrangements in this document. The absence of additional items keeps compliance risk low.

Equity Analyst

TL;DR: Regulatory win boosts LENZ narrative; lack of financial detail tempers near-term visibility.

Investors generally react favorably to FDA approvals, viewing them as catalysts for valuation re-rating. While the 8-K confirms the approval, it provides no data on pricing, launch timing or expected revenue, so the magnitude of financial impact remains unknown. Still, the event reduces development risk and could improve LENZ’s negotiating position with payors or strategic partners. The filing’s narrow scope suggests management is reserving commercial specifics for future communications.

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).

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^*

Malatesta Michael F

(Last) (First) (Middle)

4714 GETTYSBURG RD

P.O. BOX 2034

(Street)

MECHANICSBURG PA 17055

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SELECT MEDICAL HOLDINGS CORP [ SEM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF FINANCIAL OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
07/29/2025

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
Common Stock	07/29/2025		A(1)		75,000	A	$0	245,414	D

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

Explanation of Responses:

1. Grant of restricted stock which, subject to certain exceptions, will vest in full on July 29, 2028, the third anniversary of the grant date.

	/s/ Michael E. Tarvin, Attorney-in-Fact	07/31/2025
	** 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

When did LENZ (LENZ) receive FDA approval for LNZ100?

The approval was announced and reported on July 31, 2025.

What SEC form did LENZ file to disclose the FDA approval?

LENZ filed a Form 8-K under Item 8.01 (Other Events).

Which exhibit contains the press release about LNZ100’s approval?

The press release is filed as Exhibit 99.1 to the Form 8-K.

Who signed the Form 8-K on behalf of LENZ Therapeutics?

The document was signed by Chief Financial Officer Daniel Chevallard.

Does the 8-K include any financial statements or guidance related to LNZ100?

No, the filing does not include financial statements, projections, or guidance.