Granowitz Craig B 4

What Happened
Craig B. Granowitz, Senior Vice President and Chief Medical Officer of Lexicon Pharmaceuticals (LXRX), exercised restricted stock units (RSUs) that converted into 312,276 shares on February 28, 2026. The company withheld 109,098 of those shares to satisfy tax-withholding obligations at an effective price of $1.47 per share, resulting in $160,374 withheld. After withholding, Granowitz retained 203,178 shares. The filing shows the transactions as derivative exercises (code M) with the withholding reported as a tax withholding disposition (code F).

Key Details

• Transaction date: February 28, 2026; Form 4 filed March 3, 2026 (timely filing).
• Shares exercised/converted: 312,276 RSUs total (35,790 + 74,226 + 202,260).
• Shares withheld for taxes: 109,098 at $1.47 per share = $160,374.
• Net shares received: 203,178 (312,276 exercised − 109,098 withheld).
• Exercise price: N/A for RSUs (they convert to shares upon vesting).
• Footnotes: F1 = each RSU converts to one share; F2 = company withheld shares to satisfy tax withholding; F3 = RSUs vest 1/3 on Feb 28 of each of the three years following grant.
• Shares owned after transaction: not specified in the provided filing extract.

Context
This was an RSU vesting/conversion event, not an open-market purchase or sale. The withholding of shares to cover taxes is routine and does not indicate an open-market sale; it’s a common way companies satisfy employees’ tax obligations upon vesting. The derivative entries reflect conversion of RSUs into common stock (code M) and the tax withholding is reported as a disposition (code F).