Callos Andrew 4

What Happened

• Andrew Callos, EVP and Chief Commercial Officer of Cytokinetics (CYTK), exercised stock options and immediately sold the resulting shares. He exercised 15,000 options at an exercise price of $23.26 ($348,900) and sold 15,000 shares in the open market at $85.80 each for $1,287,000 on 2026-07-01. The filing shows a derivative disposition at $0, which reflects conversion/surrender of the option instrument on exercise.
• This transaction is effectively a cashless exercise followed by an open-market sale (a disposition), which is often routine for option exercises and liquidity needs rather than a directional vote on the stock.

Key Details

• Transaction date: 2026-07-01; filing date: 2026-07-02 (filed next day).
• Exercise: 15,000 options at $23.26 per share = $348,900 total exercise cost.
• Sale: 15,000 shares at $85.80 per share = $1,287,000 gross proceeds.
• Approximate net proceeds before taxes/fees: $1,287,000 − $348,900 ≈ $938,100.
• Shares owned after the transaction: Not specified in the filing.
• Footnote: Options vest over 4 years (1/4 after 1 year, then monthly over 36 months) subject to continued employment (see F1).
• No 10% owner flag reported; transaction treated as insider executive trading, not institutional.
• Filing appears timely (not marked late).

Context

• The filing uses code M for option exercise and S for sale. The same-day exercise and sale indicate a cashless or simultaneous transaction: the options were exercised and the resulting shares were sold immediately.
• Such exercises with immediate sales are common for executives exercising vested options to realize value or cover tax/expense obligations; they should not be read alone as a bullish or bearish signal.