Callos Andrew 4

What Happened
Andrew Callos, EVP and Chief Commercial Officer of Cytokinetics (CYTK), exercised 15,000 stock options and immediately sold 15,000 shares on 2026-06-01. The options were exercised at $23.26 per share (cost $348,900) and the shares were sold on the open market at $74.08 per share (gross proceeds $1,111,200). Net cash before taxes/fees from the exercise+sale is approximately $762,300. The filing also shows a related derivative conversion/disposition of 15,000 units at $0; the filing does not explain that line.

Key Details

• Transaction date: 2026-06-01. Exercise (code M) and sale (S) executed same day.
• Exercise price/cost: 15,000 shares @ $23.26 = $348,900.
• Sale price/proceeds: 15,000 shares @ $74.08 = $1,111,200.
• Approximate net proceeds (before taxes/fees): $1,111,200 - $348,900 = $762,300.
• Shares owned after transaction: Not specified in the filing.
• Footnote: Options vest over 4 years (1/4 at one year, then monthly over 36 months) — see F1.
• Timeliness: Filing covers activity on 2026-06-01 and was filed 2026-06-01 (no late filing indicated).

Context

• The sequence (exercise then sale same day) is effectively a cashless exercise — the insider converted options to shares and sold them immediately.
• Code M denotes exercise/conversion of derivatives (options); the separate zero-dollar disposition line is recorded in the filing but is not explained.
• Sales by insiders can be routine (liquidity or tax-related); this filing is factual and does not indicate the insider’s motivation.