McDermott Wendy 4

What Happened

• Wendy McDermott, Senior Vice President, Human Resources at Lexicon Pharmaceuticals (LXRX), had restricted stock units (RSUs) convert into common stock on February 28, 2026. The filing reports conversion/exercise of 52,316 + 27,697 + 144,393 = 224,406 RSUs into shares.
• To satisfy tax withholding obligations, 68,107 of the newly issued shares were withheld (Disposition code F) at $1.47 per share, totaling $100,117. That leaves a net of 224,406 − 68,107 = 156,299 shares issued to McDermott after withholding.
• Transaction codes shown: M = exercise/conversion of derivative (RSU conversion); F = withholding to cover tax liabilities.

Key Details

• Transaction date: February 28, 2026. Form 4 filed March 3, 2026 (no indication in the filing that it was late).
• Shares converted (gross): 224,406 RSUs → common stock; Shares withheld for taxes: 68,107 @ $1.47 = $100,117; Net shares issued: 156,299.
• Shares owned after transaction: not disclosed in the reported excerpt.
• Relevant footnotes from the filing: F1 — each RSU equals a contingent right to one share; F2 — company withheld a portion of issued shares to satisfy tax withholding; F3 — RSUs vest 1/3 on Feb 28 of each of the three years following the grant year (i.e., scheduled vesting).
• This was not an open‑market sale; shares were withheld as tax payment rather than sold on the market.

Context

• These transactions represent ordinary RSU vesting and conversion, with share withholding used to meet tax obligations (a common administrative step), not an opportunistic sale or open‑market purchase.
• For retail investors, such vesting events are routine compensation mechanics rather than a direct bullish or bearish insider trade signal.