[Form 4] TriSalus Life Sciences, Inc. Insider Trading Activity

Rhea-AI Filing Summary

TriSalus Life Sciences, Inc. (TLSI) filed a Form 4 reporting a routine equity award to director Sean Murphy. On 06/12/2025 Mr. Murphy was granted 15,000 non-qualified stock options with an exercise price of $5.50 per share. The award will fully vest on the earlier of one year from grant or the company’s next annual shareholder meeting, contingent on his continued service. The options expire on 06/11/2035. After the grant, the director beneficially owns 554,681 derivative securities (options) in aggregate. No shares of common stock were bought or sold; this filing solely reflects the incentive grant and therefore does not immediately affect the public float or insider ownership percentage.

Insights

Financial Analyst

TL;DR: Routine option grant; limited immediate impact on valuation or liquidity.

This Form 4 discloses a standard director compensation event: 15,000 options at $5.50 awarded to Sean Murphy. No cash or share transaction occurred, so there is no direct market supply/demand effect. The strike price sits where management believes long-term value can be created, aligning the director’s incentives with shareholders. Given the small size relative to total shares outstanding and the 10-year term, the grant is immaterial to earnings dilution and has negligible effect on enterprise value.

Corporate Governance Expert

TL;DR: Governance-standard equity award; signals continued board engagement.

The filing confirms Mr. Murphy’s ongoing board role and adherence to Section 16 reporting. One-year cliff vesting is common for director options and encourages tenure through the next annual meeting. No red flags appear: the grant size, vesting schedule and 10b5-1 checkbox compliance follow best-practice disclosure. From a governance standpoint this is neutral—neither enhancing nor weakening oversight, but it does maintain alignment of interests.

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^*

Murphy Sean

(Last) (First) (Middle)

6272 W. 91ST AVENUE

(Street)

WESTMINSTER CO 80031

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
TriSalus Life Sciences, Inc. [ TLSI ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/12/2025

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
Director Stock Option (right to buy)	$5.5	06/12/2025		A		15,000		(1)	06/11/2035	Common Stock	15,000	$0	554,681	D

Explanation of Responses:

1. The shares subject to the option shall fully vest on the one-year anniversary of the grant date of June 12, 2025, provided that the shares subject to the option will in any case be fully vested on the date of the Issuer's next annual stockholder meeting, subject to the Reporting Person's continued service with the Issuer.

Remarks:

	/s/ Mary Szela, Attorney-in-Fact	06/27/2025
	** 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 was the stock option grant to TLSI director Sean Murphy made?

The grant date was June 12, 2025.

How many TriSalus (TLSI) options were awarded to Sean Murphy?

He received 15,000 stock options.

What is the exercise price of the newly granted TLSI options?

The options carry an exercise price of $5.50 per share.

When do the Sean Murphy TLSI options vest?

They fully vest on the one-year anniversary of 06/12/2025 or at the next annual shareholder meeting, whichever comes first.

How many derivative securities does Sean Murphy own after this transaction?

Following the grant, he beneficially owns 554,681 derivative securities (options).