Lee Sung 4

What Happened
Lee Sung, Chief Financial Officer of Cytokinetics (CYTK), exercised a total of 38,730 option-derived shares on 2026-06-24 and sold those 38,730 shares in an open-market transaction the same day. The exercises occurred at two strike prices ($44.36 and $48.51), requiring aggregate exercise payments of about $1,824,288. The subsequent sale of 38,730 shares at $82.30 generated gross proceeds of $3,187,479 (net proceeds roughly $1.36M after exercise costs). The Form 4 shows the derivative positions were surrendered/converted (zero-dollar disposition lines) consistent with exercise.

Key Details

• Transaction date: 2026-06-24 (reported on Form 4 filed 2026-06-29).
• Exercise details: total 38,730 shares exercised at $44.36 and $48.51 (aggregate exercise cost ≈ $1.82M). Transaction code: M = option exercise.
• Sale details: 38,730 shares sold in the open market at $82.30 for $3,187,479. Transaction code: S = sale.
• Zero-dollar disposition entries reflect surrender/conversion of the option/derivative instruments upon exercise.
• Shares owned after the transaction: not specified in the provided filing.
• Timeliness: filing covers 2026-06-24 transactions but was filed 2026-06-29 (appears late relative to the typical 2-business-day Form 4 deadline).

Context
This is an exercise of previously granted options followed by an immediate sale of the resulting shares (commonly called a cashless or same-day sale pattern). Such transactions convert option holdings to cash and are routine for executives; they do not by themselves indicate the insider’s future view of the company.