Lorenz Muller - 12 Dec 2025 Form 4 Insider Report for Milestone Pharmaceuticals Inc. (MIST)

Reporting relationship: Chief Commercial Officer
Issuer ticker: MIST
Reported as of: 12 Dec 2025
Net transaction value: -$145,851
SEC form: 4
Accepted by SEC: 28 Jan 2026, 18:30:09 UTC
Prior SEC filing: 11 Dec 2025
Next SEC filing: 05 Feb 2026
Source filing: View source filing
Reporting owner signature: /s/ Joseph Oliveto, Attorney-in-Fact

Key filing fact

Lorenz Muller filed Form 4 for Milestone Pharmaceuticals Inc. (MIST) on 28 Jan 2026.

Key facts

This page summarizes Lorenz Muller's Form 4 filing for Milestone Pharmaceuticals Inc. (MIST).
6 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 28 Jan 2026, 18:30.

Change

Previous filing in this sequence was filed on 11 Dec 2025.
Current net transaction value: -$145,851.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001771207 Primary reporting owner

Muller Lorenz

Relationship: Chief Commercial Officer
Address: C/O MILESTONE PHARMACEUTICALS INC., 1111 DR. FREDERIK-PHILIPS BLVD, STE 420, MONTREAL, QUEBEC, CANADA
Signature: /s/ Joseph Oliveto, Attorney-in-Fact
Signature date: 28 Jan 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MIST transaction

Common Shares

Award

Transaction value
Shares: +100,000
Change %: +67%
Price
Shares after: 250,052
Date: 12 Dec 2025
Ownership: Direct
Footnotes: F1, F2

MIST transaction

Common Shares

Sale

Transaction value: $124,273
Shares: -53,566
Change %: -21%
Price: $2.32
Shares after: 196,486
Date: 15 Dec 2025
Ownership: Direct
Footnotes: F3, F4

MIST transaction

Common Shares

Options Exercise

Transaction value
Shares: +20,100
Change %: +10%
Price
Shares after: 216,586
Date: 26 Jan 2026
Ownership: Direct
Footnotes: F5

MIST transaction

Common Shares

Sale

Transaction value: $21,577
Shares: -11,180
Change %: -5.2%
Price: $1.93
Shares after: 205,406
Date: 26 Jan 2026
Ownership: Direct
Footnotes: F3, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

MIST transaction Derivative

Employee Stock Option (right to buy)

Award

Transaction value: $0
Shares: +100,000
Change %
Price: $0.000000
Shares after: 100,000
Date: 12 Dec 2025
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 100,000
Exercise price: $1.74
Footnotes: F6

MIST transaction Derivative

Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -20,100
Change %: -25%
Price: $0.000000
Shares after: 60,300
Date: 26 Jan 2026
Ownership: Direct
Underlying class: Common Shares
Underlying amount: 20,100
Exercise price
Footnotes: F5, F7

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote F1

Represents a performance stock unit ("PSU") award that vested upon the certification by the Compensation Committee of the Board of Directors of the Issuer that the U.S. Food and Drug Administration has provided a New Drug Application Approval Letter granting approval of Cardamyst (etripamil).

Footnote F2

Each PSU represents a contingent right to receive one common share.

Footnote F3

Represents shares sold pursuant to a sell-to-cover arrangement for the purpose of satisfying income tax liabilities incurred upon vesting of PSUs or restricted stock unit ("RSU") awards only, respectively.

Footnote F4

The price reported is a weighted average price. These shares were sold in multiple transactions. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F5

Each RSU represents a contingent right to receive one common share.

Footnote F6

50% of the option will vest on June 12, 2026 and 50% will vest on December 12, 2026, subject to the Reporting Person continuing to provide service through each such date.

Footnote F7

One-fourth (1/4th) of the shares subject to the RSU award vested or will vest on each of January 26, 2026, January 26, 2027, January 26, 2028 and January 26, 2029, subject to the Reporting Person continuing to provide service through each such date.