HENDERSON JOHN T 4

What Happened John T. Henderson, a director of Cytokinetics, filed a Form 4 reporting option exercise(s) and an immediate sale on May 5, 2026. He exercised 20,000 shares at $7.61 per share (cost $152,200) and sold 20,000 shares the same day at $75.97 for proceeds of $1,519,400. The filing also shows a separate derivative conversion/disposition of 20,000 shares at $0.00; the report does not explain the $0.00 disposition.

Key Details

• Transaction date: 2026-05-05.
• Reported trades:
  • M (exercise/conversion): 20,000 shares acquired @ $7.61 — $152,200 paid.
  • S (open-market sale): 20,000 shares disposed @ $75.97 — $1,519,400 proceeds.
  • M (exercise/conversion) reported as disposed: 20,000 shares @ $0.00 — $0.
• Shares owned after transaction: Not specified in the provided data.
• No 10b5-1 plan or other footnotes were provided in the summary; the filing does not state a reason for the $0.00 disposition.
• Timeliness: Period of report and filing date both 2026-05-05 — appears to be filed on the transaction date (not marked late).

Context

• The sequence (exercise then same-day sale) is commonly used to cover exercise costs and taxes (a cashless-like pattern), but the filing itself does not state motives. The separate $0.00 disposition line may reflect withholding or net share settlement, though the Form 4 here gives no explanation.
• Henderson is listed as a director (not a 10% owner or CEO). For retail investors, purchases (buys) can signal stronger insider conviction than routine option exercises followed by sales; this filing primarily documents an exercise and a sizeable sale.