Were the MPLT insider share sales part of a broader trading strategy?

The filing states the shares were required to be sold to satisfy statutory tax withholding for vested restricted stock units. There is no mention in the excerpt of a broader trading strategy or Rule 10b5-1 trading plan, suggesting the activity is mainly compensation-related and administrative in nature.

MapLight Therapeutics (MPLT) CMO sells 3,213 shares for tax withholding

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

MapLight Therapeutics, Inc. Chief Medical Officer Erin Pennock Foff reported open-market sales of 3,213 shares of Voting Common Stock on April 15–16, 2026. The filing notes these shares were required to be sold to cover statutory tax withholding obligations tied to vested restricted stock units, making the activity largely mechanistic rather than discretionary. Reported weighted average sale prices ranged from about $26.84 to $27.49 per share. Following the transactions, Foff directly holds 400,777 shares, which includes 155 shares acquired under the company’s stock purchase plan on March 31, 2026.

Insights

MPLT CMO’s reported sales mainly cover taxes on vested equity.

The Chief Medical Officer, Erin Pennock Foff, reported selling 3,213 shares of Voting Common Stock through open-market transactions on April 15–16, 2026. A key footnote explains the sales represent shares required to cover statutory tax withholding for vested restricted stock units.

Because the transactions serve a tax obligation, they resemble routine compensation mechanics rather than a discretionary decision to reduce exposure. After these sales, Foff still directly owns 400,777 shares, indicating the disposition is small relative to her overall position.

The filing also notes that the holdings include 155 shares acquired under the company’s stock purchase plan on March 31, 2026. No derivative positions are listed, and there is no reference to a Rule 10b5-1 plan in the provided excerpt, so the visible impact appears limited and largely administrative.

Insider Trade Summary

Net Seller: 3,213 shares ($86,859)

Net Sell 3 txns

Insider Foff Erin Pennock

Role Chief Medical Officer

Sold 3,213 shs ($87K)

Type	Security	Shares	Price	Value
Sale	Voting Common Stock	288	$27.01	$8K
Sale	Voting Common Stock	881	$27.49	$24K
Sale	Voting Common Stock	2,044	$26.84	$55K

Holdings After Transaction: Voting Common Stock — 401,658 shares (Direct)

Footnotes (1)

Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting of the restricted stock units. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.33 to $27.29 inclusive. 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 ranges set forth in footnotes (2), (3) and (5). Includes 155 shares acquired under the Issuer's stock purchase plan on March 31, 2026. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.2201 to $27.2197 inclusive. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.22 to $27.9898 inclusive.

Key Figures

Shares sold: 3,213 shares Sale price 1: $26.84 per share Sale price 2: $27.01 per share +3 more

6 metrics

Shares sold 3,213 shares Total Voting Common Stock sold on April 15–16, 2026

Sale price 1 $26.84 per share Weighted average price for 2,044 shares sold on April 15, 2026

Sale price 2 $27.01 per share Weighted average price for 288 shares sold on April 16, 2026

Sale price 3 $27.49 per share Weighted average price for 881 shares sold on April 16, 2026

Post-transaction holdings 400,777 shares Direct Voting Common Stock held after April 16, 2026 transactions

Stock purchase plan shares 155 shares Acquired under issuer’s stock purchase plan on March 31, 2026

Key Terms

restricted stock units, statutory tax withholding, weighted average price, stock purchase plan, +1 more

5 terms

restricted stock units financial

"in connection with the vesting of the restricted stock units."

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.

statutory tax withholding financial

"shares required to be sold to cover the statutory tax withholding obligations"

weighted average price financial

"The price reported is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

stock purchase plan financial

"Includes 155 shares acquired under the Issuer's stock purchase plan"

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

04/17/2026 - 04:05 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^*

Foff Erin Pennock

(Last)

(First)

(Middle)

C/O MAPLIGHT THERAPEUTICS, INC.

800 CHESAPEAKE DRIVE

(Street)

REDWOOD CITY

CALIFORNIA

94063

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MapLight Therapeutics, Inc. [ MPLT ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/15/2026

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)
Voting Common Stock	04/15/2026		S		2,044⁽¹⁾	D	$26.84⁽²⁾	401,946⁽³⁾	D
Voting Common Stock	04/16/2026		S		288⁽¹⁾	D	$27.01⁽⁴⁾	401,658	D
Voting Common Stock	04/16/2026		S		881⁽¹⁾	D	$27.49⁽⁵⁾	400,777	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. Represents the number of shares required to be sold to cover the statutory tax withholding obligations in connection with the vesting of the restricted stock units.

2. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.33 to $27.29 inclusive. 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 ranges set forth in footnotes (2), (3) and (5).

3. Includes 155 shares acquired under the Issuer's stock purchase plan on March 31, 2026.

4. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.2201 to $27.2197 inclusive.

5. The price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.22 to $27.9898 inclusive.

	/s/ Kristopher L. Hanson, Attorney-in-Fact	04/17/2026
	** 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 did MapLight Therapeutics (MPLT) disclose in this Form 4 filing?

MapLight Therapeutics disclosed that Chief Medical Officer Erin Pennock Foff sold 3,213 shares of Voting Common Stock on April 15–16, 2026. The filing explains these sales were required to cover statutory tax withholding obligations from vesting restricted stock units, making them largely administrative.

How many MPLT shares did the Chief Medical Officer sell and at what prices?

The Chief Medical Officer sold a total of 3,213 shares of MapLight Therapeutics Voting Common Stock. Reported weighted average sale prices were approximately $26.84, $27.01, and $27.49 per share, with individual trades executed within stated price ranges around those averages during April 15–16, 2026.

Why were MapLight Therapeutics (MPLT) shares sold by the Chief Medical Officer?

According to a footnote, the reported MPLT share sales represent the number of shares required to be sold to cover statutory tax withholding obligations. These obligations arose in connection with the vesting of restricted stock units, indicating the transactions are tied to equity compensation rather than discretionary portfolio changes.

How many MPLT shares does the Chief Medical Officer hold after these transactions?

Following the reported sales, Chief Medical Officer Erin Pennock Foff directly holds 400,777 shares of MapLight Therapeutics Voting Common Stock. This total includes 155 shares acquired under the company’s stock purchase plan on March 31, 2026, as disclosed in a filing footnote.

Did MapLight Therapeutics’ CMO transact in any derivative securities in this Form 4?

The transactions reported for MapLight Therapeutics’ Chief Medical Officer involve only non-derivative Voting Common Stock. The derivative summary in the provided data is empty, indicating no derivative security exercises, conversions, or other derivative transactions were reported in this particular Form 4 filing.