SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Gjino Anjeza (Last) (First) (Middle) C/O CYCLERION THERAPEUTICS, INC. 245 FIRST STREET, 18TH FLOOR (Street) CAMBRIDGE MA 02142 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 01/01/2021	3. Issuer Name and Ticker or Trading Symbol Cyclerion Therapeutics, Inc. [ CYCN ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Chief Financial Officer	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	15,224(1)	D
Common Stock	18,199(2)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	(3)	12/01/2023	Common Stock	30	$14.4	D
Employee Stock Option (Right to Buy)	(3)	12/02/2023	Common Stock	300	$12.68	D
Employee Stock Option (Right to Buy)	(3)	12/16/2023	Common Stock	250	$11.95	D
Employee Stock Option (Right to Buy)	(3)	03/03/2024	Common Stock	540	$15.54	D
Employee Stock Option (Right to Buy)	(3)	11/03/2024	Common Stock	1,000	$14.87	D
Employee Stock Option (Right to Buy)	(3)	03/16/2025	Common Stock	340	$17.2	D
Employee Stock Option (Right to Buy)	(3)	10/01/2025	Common Stock	402	$11.52	D
Employee Stock Option (Right to Buy)	(3)	03/01/2026	Common Stock	3,773	$11.28	D
Employee Stock Option (Right to Buy)	(3)	01/29/2029	Common Stock	11,504	$14.21	D
Employee Stock Option (Right to Buy)	(4)	09/06/2029	Common Stock	5,468	$10.1	D
Employee Stock Option (Right to Buy)	(4)	11/04/2030	Common Stock	1,562	$2.48	D
Employee Stock Option (Right to Buy)	(5)	01/29/2029	Common Stock	12,944	$14.21	D
Employee Stock Option (Right to Buy)	(6)	09/06/2029	Common Stock	12,032	$10.1	D
Employee Stock Option (Right to Buy)	(7)	11/22/2029	Common Stock	75,000	$2.01	D
Employee Stock Option (Right to Buy)	(8)	11/04/2030	Common Stock	73,438	$2.48	D

Explanation of Responses:

1. Includes 7,204 shares acquired under the Issuer's 2019 Employee Stock Purchase Plan.

2. Consists of (i) 9,449 shares underlying unvested restricted stock units ("RSUs"), each representing the right to receive one share of Common Stock, received as a result of the equitable adjustment of outstanding RSUs held prior to the spin-off of the Issue from its predecessor, effective April1, 2019 (the "Separation"), that vest ratably on February 24, 2021, February 24, 2022 and February 23, 2023, and (ii) 8,750 shares issued under the Issuer's 2019 Equity Incentive Plan that vest ratably on August 12, 2021, August 11, 2022 and August 10, 2023.

3. These stock options are fully exercisable and were granted by the Issuer's predecessor and were equitably adjusted into stock options of the Issuer pursuant to the Separation.

4. These stock options were issued under the Issuer's 2019 Equity Incentive Plan and are fully exercisable.

5. These stock options vest and become exercisable ratably on the first day of each month until and including January 1, 2023.

6. These stock options vest and become exercisable ratably on the sixth day of each month until and including September 6, 2023.

7. These stock options vest and become exercisable upon the attainment of both performance-based and service-based hurdles, as follows: (i) 20% of the shares subject to the option, if the average closing price of the common stock reported by Nasdaq for any thirty (30) consecutive trading days equals or exceeds $10; plus an additional (ii) 40% of the shares, if the average closing price equals or exceeds $20; plus an additional (iii) 40% of the shares, if the average closing price equals or exceeds $30; in each case, subject to the continuous employment or service through the later of the date that the performance hurdles set forth above are attained (but no later than December 31, 2024) and December 31, 2021. To the extent unvested as of December 31, 2024, all of these performance-based options will be cancelled.

8. These stock options vest and become exercisable ratably on the fourth day of each month until and including November 4, 2024.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Anjeza Gjino	01/11/2021
	** Signature of Reporting Person	Date
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