Callos Andrew 4

What Happened
Andrew Callos, EVP and Chief Commercial Officer of Cytokinetics (CYTK), exercised options to acquire 15,000 shares at $23.26 per share (total exercise cost $348,900) on 2026-04-30. He then disposed (sold) 15,000 shares in an open-market sale at $63.26 per share for gross proceeds of $948,900 on the same day. The filing also reports a derivative disposition of 15,000 shares at $0.00 on 2026-04-30 (see Key Details).

Key Details

• Transactions date: 2026-04-30.
  • Option exercise (code M): 15,000 shares @ $23.26 = $348,900 (acquired).
  • Open-market sale (code S): 15,000 shares @ $63.26 = $948,900 (disposed).
  • Derivative disposition: 15,000 shares @ $0.00 (disposed) — $0 reported.
• Net difference between gross sale proceeds and exercise cost (before fees/taxes): $600,000 (948,900 − 348,900).
• Shares owned after the transactions: not disclosed in the provided Form 4.
• Footnote: F1 notes these are option grants that vest over four years (1/4 after one year, then monthly over 36 months), subject to continued employment.
• Filing timeliness: Reported for the period 2026-04-30 and filed the same day (no late filing indicated).
• Transaction codes: M = option exercise, S = sale.

Context
Because the exercise and sale occurred the same day, this resembles a cashless exercise where exercised shares are sold immediately; the Form 4 shows both the exercise and the open-market sale. The $0.00 derivative disposition is reported but not explained in the Form 4; such zero-dollar entries can reflect option conversions, share transfers for tax or withholding, or reporting mechanics, but the filing itself does not specify the reason. This appears to be an executive liquidity event rather than an outright purchase (not a bullish buy).