RODRIGUEZ RAUL R 4

What Happened
Raul R. Rodriguez, CEO, President and a director of Rigel Pharmaceuticals (RIGL), exercised stock options on January 26, 2026 and acquired 80,000 shares at a reported price of $27.40 per share (two lots of 40,000; total reported value $2,192,000). To cover tax/withholding obligations related to the exercises, a total of 84,745 shares were surrendered/disposed under payment-of-tax-withholding entries (three withholding transactions on Jan 26 and Feb 2), with reported values of $3,121,596. The net result reported in these entries is a decrease of 4,745 shares (80,000 acquired minus 84,745 withheld).

Key Details

• Transaction dates: primary exercise on 2026-01-26; additional withholding posted 2026-02-02.
• Exercise details: two "M" entries acquiring 40,000 shares each at $27.40 (40,000 × $27.40 = $1,096,000 per lot; $2,192,000 total).
• Withholding/tax disposals ("F" code): 35,211 shares @ $37.00 ($1,302,807); 35,424 shares @ $37.00 ($1,310,688); 14,110 shares @ $36.01 ($508,101). Withheld shares total 84,745; withheld value total $3,121,596.
• Net effect: +80,000 shares acquired vs. -84,745 shares withheld → net -4,745 shares.
• Footnotes: F1 notes numbers adjusted for Rigel’s 1-for-10 reverse split (effective June 27, 2024); F2 notes inclusion of 1,000 shares from the issuer’s stock purchase plan; F3 describes vesting schedule for certain shares (vested monthly over two years from Jan 1, 2016).
• Shares owned after the transactions are not specified in the provided filing lines.
• Filing date: Form 4 was filed 2026-02-04 for transactions dated 2026-01-26 — this appears later than the usual 2-business-day Form 4 deadline (filing timeliness flagged as late).

Context
These entries show an option exercise combined with share withholding to satisfy tax obligations — a common, routine insider transaction (often called a cashless exercise/settlement). The “M” codes indicate option exercise/conversion of derivative securities; the “F” codes indicate shares were surrendered to pay exercise price or taxes. Such withholding sales are administrative and do not necessarily signal a change in the insider’s view of the company. The late filing reduces timeliness for investors evaluating the transaction.