Exicure HiTron trims Exicure (NASDAQ: XCUR) stake, remains 40.7% holder

Rhea-AI Filing Summary

Exicure HiTron Inc., a major shareholder of Exicure, Inc., has amended its beneficial ownership report after selling part of its stake. On January 7, 2026, Exicure HiTron completed share transfer agreements covering 741,272 common shares at $4.50 per share, for total proceeds of $3,335,724. The shares were sold for liquidity purposes to three individuals: Im Sung Jin, Lee Aram, and Im Bumjin.

After giving effect to these transfers, Exicure HiTron reports beneficial ownership of 2,592,061 Exicure common shares, representing about 40.7% of the 6,373,869 shares outstanding as of November 3, 2025. Exicure HiTron retains sole voting and dispositive power over these remaining shares.

Insights

Equity ownership & governance analyst

Large holder trims position for liquidity but remains a 40.7% owner.

Exicure HiTron Inc. completed a sale of 741,272 Exicure common shares at $4.50 per share for total proceeds of $3,335,724. The filing states the transfers were made for liquidity purposes, with shares going to three named individual transferees under share transfer agreements dated December 30, 2025.

Following these transactions, Exicure HiTron still beneficially owns 2,592,061 shares, or about 40.7% of the 6,373,869 shares outstanding as of November 3, 2025, with sole voting and dispositive power. This indicates a reduced but still very significant influence on shareholder votes and corporate governance.

The amendment formalizes this change in ownership structure as of January 7, 2026. Future company disclosures may provide additional context on any strategic implications of the shift from a larger to a smaller, but still controlling, stake.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

EXICURE, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

30205M309

(CUSIP Number)

Alex Farkas
Bentall 5, 550 Burrard Street, Suite 2501
Vancouver, A1, V6B 2B5
236-317-6203

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/07/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 30205M309

1

Name of reporting person

Exicure HiTron Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

KOREA, REPUBLIC OF

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 2,592,061.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 2,592,061.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

2,592,061.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

40.7 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: EXICURE, INC.
(c)	Address of Issuer's Principal Executive Offices: 2430 N. HALSTED ST., CHICAGO, ILLINOIS , 60614.
Item 1 Comment: This Amendment No. 3 (this Amendment) to the statement on Schedule 13D with respect to the beneficial ownership of shares of common stock, par value 0.0001 per share (the Shares) of Exicure, Inc., a Delaware corporation (the Issuer), filed by Exicure HiTron Inc., a South Korean corporation (the Reporting Person), amends and supplements the beneficial ownership statement on Schedule 13D originally filed on November 29, 2024, as amended by Amendment No. 1 to the statement on Schedule 13D filed on March 26, 2025 and as amended by Amendment No. 2 to the statement on Schedule 13D filed on September 9, 2025 (such Schedule 13D and amendments, the Original Statement), as set forth below. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Original Statement. Except as specifically amended by this Amendment, items in the Original Statement are unchanged.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Original Statement is hereby amended and supplemented as follows: On January 7, 2026, the Reporting Person completed the Share Transfer (as defined in Item 4 of this Amendment), pursuant to which the Reporting Person transferred an aggregate of 741,272 Shares at a purchase price of $4.50 per Share, or $3,335,724 in the aggregate.
Item 4.	Purpose of Transaction
	Item 4 of the Original Statement is hereby amended and supplemented as follows: The Reporting Person entered into share transfer agreements dated December 30, 2025 (the Share Transfer Agreements) and agreed to transfer (the Share Transfer) an aggregate of 741,272 Shares at a price of $4.50 per Share for aggregate proceeds of $3,335,724, as follows: Name of Transferee Number of Shares Proceeds Im Sung Jin 248,028 $1,116,126 Lee Aram 234,882 $1,056,969 Im Bumjin 258,362 $1,162,629 The Shares reported on this Amendment were transferred The Shares were transferred for liquidity purposes.
Item 5.	Interest in Securities of the Issuer
(a)	(a) Item 5(a) of the Original Statement is hereby amended and restated as follows: The percentage of beneficial ownership reported in this Item 5, and on the Reporting Persons cover page to this Amendment, is based on a total of 6,373,869 shares of common stock, which represents the number of shares of common reported as outstanding on November 3, 2025, as reported in the Issuers Form 10Q filed with the Securities and Exchange Commission on November 7, 2025. All of the share numbers reported below, and on the Reporting Persons cover page to this Amendment, are as of January 7, 2026, and give effect to the Share Transfers. The cover page to this Amendment is incorporated by reference in its entirety into this Item 5. The Reporting Person is the beneficial owner of a total of 2,592,061 shares of Common Stock, representing approximately 40.7 percent of the outstanding shares of Common Stock.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Original Statement is hereby supplemented as follows: The Reporting Person entered into Share Transfer Agreements and agreed to transfer an aggregate of 741,272 Shares at a price of $4.50 per Share for aggregate proceeds of $3,335,724, as follows: Name of Transferee Number of Shares Proceeds Im Sung Jin 248,028 $1,116,126 Lee Aram 234,882 $1,056,969 Im Bumjin 258,362 $1,162,629

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Exicure HiTron Inc.

Signature:	/s/ Young Chul Han
Name/Title:	CEO
Date:	01/08/2026

FAQ

What change in ownership did Exicure HiTron report in this XCUR Schedule 13D/A?

Exicure HiTron reported that it transferred 741,272 Exicure common shares at $4.50 per share, reducing its holdings but remaining a major shareholder.

How many Exicure (XCUR) shares does Exicure HiTron own after the share transfers?

After the transfers, Exicure HiTron beneficially owns 2,592,061 Exicure common shares, with sole voting and dispositive power over these shares.

What percentage of Exicure (XCUR) does Exicure HiTron own following this amendment?

Exicure HiTron reports ownership of approximately 40.7% of Exicure's common stock, based on 6,373,869 shares outstanding as of November 3, 2025.

For what reason did Exicure HiTron sell 741,272 Exicure (XCUR) shares?

The filing states that the 741,272 shares were transferred "for liquidity purposes" under share transfer agreements.

Who purchased the Exicure (XCUR) shares sold by Exicure HiTron and for how much?

The transferees were Im Sung Jin (248,028 shares, $1,116,126), Lee Aram (234,882 shares, $1,056,969), and Im Bumjin (258,362 shares, $1,162,629).

What total proceeds did Exicure HiTron receive from selling Exicure (XCUR) shares?

Exicure HiTron received aggregate proceeds of $3,335,724 from transferring 741,272 shares at $4.50 per share.