Schorno Dean L 4

What Happened

• Dean L. Schorno, Chief Financial Officer of Rigel Pharmaceuticals (RIGL), exercised stock options on June 1, 2026, resulting in the acquisition of 3,381 common shares. He paid $50,139 in aggregate exercise price ($22,440 for 1,200 shares at $18.70 and $27,699 for 2,181 shares at $12.70).
• As part of the exercise, 928 shares were withheld to satisfy tax withholding obligations (reported as a disposition under code F) and valued at $27,710 (price $29.86). The filing also shows the option/derivative interests for 1,200 and 2,181 shares were converted (reported as derivative dispositions at $0.00).

Key Details

• Transaction date: June 1, 2026; Form 4 filed June 3, 2026 (timely filing).
• Exercise details: 1,200 shares @ $18.70 = $22,440; 2,181 shares @ $12.70 = $27,699; total cash paid $50,139.
• Tax withholding: 928 shares withheld @ $29.86 = $27,710 (code F).
• Derivative conversion: 1,200 and 2,181-option units converted to common stock (reported as M and derivative dispositions at $0.00).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: adjustments reflect a 1-for-10 reverse split effective June 27, 2024 (F1). Vesting schedules noted for the option grants (monthly vesting over 3–4 years; F2, F3).

Context

• This was an option exercise (code M) with withholding to cover taxes (code F), not an open-market sale. That is a routine administrative transaction converting vested options into shares and meeting tax obligations, not a straightforward buy/sell signal.
• The filing indicates vesting schedules and a prior reverse split; no late filing was indicated.