Were Michael Huang’s Soleno share sales executed in single or multiple trades?

Each reported transaction was executed in multiple trades within a price range. The Form 4 discloses that the prices shown are weighted averages, and detailed trade-by-trade information is available upon request from the company, regulators, or security holders.

Soleno (NASDAQ: SLNO) SVP sells 6,582 shares to cover RSU tax obligations

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Soleno Therapeutics senior vice president of clinical development Michael F. Huang reported open-market sales of company common stock primarily to cover tax obligations from vesting restricted stock units. He sold a total of 6,582 shares in multiple trades on March 27, 2026, at weighted average prices around $30–$32 per share. Following these transactions, he continues to hold 39,823 shares of common stock directly.

Insider Trade Summary

Net Seller: 6,582 shares ($200,365)

Net Sell 3 txns

Insider Huang Michael F.

Role Sr. VP of Clinical Development

Sold 6,582 shs ($200K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,256	$30.037	$128K
Sale	Common Stock	1,838	$31.0384	$57K
Sale	Common Stock	488	$31.7187	$15K

Holdings After Transaction: Common Stock — 42,149 shares (Direct)

Footnotes (1)

These shares were sold to cover tax withholding obligations in connection with the vesting of restricted stock units ("RSUs"). This transaction was executed in multiple trades at prices ranging from $29.54 to $30.52. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price. Certain of these securities are RSUs. Each RSU represents a contingent right to receive one share of Common Stock, subject to the applicable vesting schedule and conditions of each RSU. This transaction was executed in multiple trades at prices ranging from $30.545 to $31.41. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price. This transaction was executed in multiple trades at prices ranging from $31.64 to $31.73. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

Key Figures

Shares sold tranche 1: 4,256 shares at $30.037 Shares sold tranche 2: 1,838 shares at $31.0384 Shares sold tranche 3: 488 shares at $31.7187 +2 more

5 metrics

Shares sold tranche 1 4,256 shares at $30.037 Common Stock sale on March 27, 2026

Shares sold tranche 2 1,838 shares at $31.0384 Common Stock sale on March 27, 2026

Shares sold tranche 3 488 shares at $31.7187 Common Stock sale on March 27, 2026

Total shares sold 6,582 shares Net common stock sold in reported transactions

Shares held after transactions 39,823 shares Direct common stock ownership after March 27, 2026

Key Terms

restricted stock units, tax withholding obligations, weighted average sale price

3 terms

restricted stock units financial

"These shares were sold to cover tax withholding obligations in connection with the vesting of restricted stock units ("RSUs")."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax withholding obligations financial

"These shares were sold to cover tax withholding obligations in connection with the vesting of restricted stock units ("RSUs")."

weighted average sale price financial

"The price reported above reflects the weighted average sale price."

Form 4 Insider Transactions: What Each Field Means →

03/31/2026 - 08:15 PM

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^*

Huang Michael F.

(Last)

(First)

(Middle)

100 MARINE PARKWAY, SUITE 400

(Street)

REDWOOD CITY

CALIFORNIA

94065

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SOLENO THERAPEUTICS INC [ SLNO ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Sr. VP of Clinical Development

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/27/2026		S⁽¹⁾		4,256	D	$30.037⁽²⁾	42,149⁽³⁾	D
Common Stock	03/27/2026		S⁽¹⁾		1,838	D	$31.0384⁽⁴⁾	40,311⁽³⁾	D
Common Stock	03/27/2026		S⁽¹⁾		488	D	$31.7187⁽⁵⁾	39,823⁽³⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares were sold to cover tax withholding obligations in connection with the vesting of restricted stock units ("RSUs").

2. This transaction was executed in multiple trades at prices ranging from $29.54 to $30.52. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

3. Certain of these securities are RSUs. Each RSU represents a contingent right to receive one share of Common Stock, subject to the applicable vesting schedule and conditions of each RSU.

4. This transaction was executed in multiple trades at prices ranging from $30.545 to $31.41. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

5. This transaction was executed in multiple trades at prices ranging from $31.64 to $31.73. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

	/s/ Anish Bhatnagar, Attorney-in-Fact	03/31/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did SLNO executive Michael Huang report?

Michael Huang reported selling 6,582 Soleno Therapeutics shares. The sales occurred on March 27, 2026, in several open-market trades and were made mainly to cover tax withholding obligations tied to the vesting of restricted stock units.

At what prices did Michael Huang sell Soleno Therapeutics (SLNO) shares?

Huang’s reported weighted average sale prices ranged from about $30 to $32 per share. Individual transactions were reported at $30.037, $31.0384 and $31.7187 per share, each executed in multiple trades within disclosed price ranges.

How many Soleno Therapeutics shares does Michael Huang still own after these sales?

After the reported transactions, Huang directly holds 39,823 Soleno shares. This figure reflects his remaining common stock position following the 6,582 shares sold on March 27, 2026, as disclosed in the Form 4 filing.

Why did the Soleno Therapeutics executive sell shares according to the Form 4?

The filing states the shares were sold to cover tax withholding obligations. These obligations arose from the vesting of restricted stock units, meaning the sales were tied to compensation-related tax payments rather than purely discretionary trading.

What are RSUs mentioned in the Soleno Therapeutics (SLNO) insider filing?

The filing explains that certain securities are restricted stock units, or RSUs. Each RSU represents a contingent right to receive one share of common stock, subject to the applicable vesting schedule and conditions described in the executive’s equity awards.