Lycia Therapeutics, Inc. (NASDAQ:LYCA) Chief Medical Officer and 10% owner Lee Chin Hyok filed a Form 4 on October 26, 2026, disclosing the acquisition of stock options on August 11, 2026, prior to the company's initial public offering.

Key Highlights

  • Reporting person: Lee Chin Hyok, identified as Chief Medical Officer and 10% owner of Lycia Therapeutics, Inc.
  • Transaction date: August 11, 2026, with the filing submitted October 26, 2026.
  • Award size: 73,191 stock options (right to buy) acquired, with 73,191 derivative securities beneficially owned following the transaction.
  • Exercise price: $3.70 per share, with an expiration date of August 10, 2036.
  • Vesting schedule: Options vest as to 1/48 of the total award monthly over four years, with the first tranche vested on September 6, 2026, subject to continued service.
  • Pre-IPO transaction: The transaction occurred prior to the issuer's registration of a class of equity securities under Section 12 of the Exchange Act and is reported pursuant to Rule 16a-2(a).
  • Price of derivative security: $0, as disclosed in the filing.

Lee Chin Hyok Pre-IPO Option Grant at Lycia Therapeutics

According to the Form 4 filed with the SEC, Lee Chin Hyok, serving as Chief Medical Officer and a 10% owner of Lycia Therapeutics, Inc., reported the acquisition of 73,191 stock options with a right to buy common stock at an exercise price of $3.70 per share. The transaction date is listed as August 11, 2026, and the options carry an expiration date of August 10, 2036. The filing notes the price of the derivative security as $0.

The filing explains that "the transaction occurred prior to the Issuer's registration of a class of equity securities under Section 12 of the Exchange Act in connection with the Issuer's initial public offering," and that it is being reported pursuant to Rule 16a-2(a). This context places the grant in the period before Lycia Therapeutics completed its IPO process.

Per the filing, the options "vest as to 1/48 of the total award monthly over four years, with the first tranche vested on September 6, 2026, subject to the Reporting Person's provision of service to the Issuer on each vesting date." Following the reported transaction, Lee Chin Hyok beneficially owns 73,191 derivative securities directly. The form was signed by Amy Bachrodt as attorney-in-fact on October 26, 2026.

What Was Disclosed

This Form 4 discloses that Lycia Therapeutics Chief Medical Officer Lee Chin Hyok acquired 73,191 stock options at an exercise price of $3.70 per share on August 11, 2026, ahead of the company's IPO, with a four-year monthly vesting schedule expiring August 10, 2036.