Christine Zedelmayer, Equillium, Inc.'s Senior Vice President and Chief Operating Officer, completed a set of linked equity transactions on February 19, 2026. Under a pre-established 10b5-1 trading arrangement, Zedelmayer sold 185,937 shares of Equillium common stock. The share sales were executed across prices ranging from $1.7406 to $1.7814, producing gross proceeds of $328,104.
On the same calendar day, Zedelmayer exercised options that resulted in the acquisition of an identical number of shares: 185,937. The exercised options carried strike prices of $0.73 and $0.785. The combined cash required to exercise these options amounted to $141,749.
Following the sales and exercises, Zedelmayer's direct holdings in Equillium total 191,444 shares. The transactions were reported as routine activity taking place under the terms of the pre-arranged trading plan.
Separately, an analysis of the company's stock performance over the prior 12 months shows a 98% price return. That same analysis characterizes the share price as slightly overvalued against its Fair Value and highlights relatively volatile price movement as one of a dozen key insights available to subscribers of the analysis service.
The public filing describing these trades documents the specific share counts, price ranges, option strike levels and the aggregate dollar amounts for both the sale proceeds and the option exercise cost. Those figures provide a clear, traceable record of the day’s activity and the post-transaction ownership position reported by Zedelmayer.
Clear summary
Equillium's COO sold 185,937 shares under a 10b5-1 plan for $328,104 and simultaneously exercised options to obtain 185,937 shares at a total exercise cost of $141,749. Afterward she directly owned 191,444 shares. A separate valuation analysis notes a 98% one-year return but suggests the stock is slightly overvalued and displays notable volatility.
Key points
- Transaction specifics: 185,937 shares sold under a 10b5-1 plan on February 19, 2026 at $1.7406 to $1.7814 per share, totaling $328,104.
- Options exercise: 185,937 shares acquired via option exercises with strikes of $0.73 and $0.785, costing $141,749 in aggregate.
- Post-trade ownership: Zedelmayer directly holds 191,444 shares following these transactions; the stock recorded a 98% return over the past year while an analysis flags slight overvaluation and volatile price moves.
Risks and uncertainties
- Valuation signal: The analysis indicating the stock is slightly overvalued relative to its Fair Value introduces valuation uncertainty for investors contemplating further purchases.
- Price volatility: The stock's described volatile price movements imply elevated market risk and potential for sharp short-term swings.
- Concentration risk: Changes in insider ownership levels and large option exercises or sales can influence perceptions of insider confidence, which may affect small-cap trading dynamics.