Ali Asif 4
4 · Protagonist Therapeutics, Inc · Filed Jan 27, 2026
Research Summary
AI-generated summary of this filing
Protagonist (PTGX) CFO Ali Asif Exercises Options, Sells Shares
What Happened
Ali Asif, CFO of Protagonist Therapeutics (PTGX), exercised stock options to acquire 28,000 shares (16,000 at $19.19 and 12,000 at $12.17) for a combined cost of $453,080, and executed open-market sales of 46,203 shares on January 27, 2026 for total proceeds of approximately $3,841,037 (sales reported at weighted average prices of $83.13 and $83.14). The Form 4 also shows conversion/exercise-related derivative line items recorded at $0.00 for 16,000 and 12,000 shares (see footnotes/filing for details).
Key Details
- Transaction date: 2026-01-27 (filed same day).
- Option exercises (code M): 16,000 shares @ $19.19 ($307,040) and 12,000 shares @ $12.17 ($146,040).
- Open-market sales (code S): 28,000 shares @ $83.13 (weighted avg; proceeds $2,327,640) and 18,203 shares @ $83.14 (weighted avg; proceeds $1,513,397).
- Total sold: 46,203 shares for ≈ $3.84M; total cash spent on exercises ≈ $453,080.
- Footnote F1: Includes 446 shares acquired earlier via the 2016 ESPP (Sept 9, 2025).
- Footnotes F2/F3: Sale prices are weighted averages; actual trades ranged ~$82.77–$83.595 and $82.80–$83.595 respectively. SEC staff can request per-trade breakdowns.
- Footnotes F4/F5: Describe the grant dates and vesting schedules for the options exercised (grants: Apr 18, 2022 and Jan 16, 2023).
- Shares owned after the transactions are not specified in the excerpt provided—see the full Form 4 for post-transaction beneficial ownership.
Context
The filing shows same-day option exercises and open-market sales. This pattern is commonly used to cover exercise costs and tax withholding (a cashless exercise or immediate sell), but the Form 4 itself does not state the purpose. These are insider transactions by an executive (not a 10% owner) and were reported on the transaction date.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-01-27$19.19/sh+16,000$307,040→ 94,523 total - Exercise/Conversion
Common Stock
2026-01-27$12.17/sh+12,000$146,040→ 106,523 total - Sale
Common Stock
[F2]2026-01-27$83.13/sh−28,000$2,327,640→ 78,523 total - Sale
Common Stock
[F3]2026-01-27$83.14/sh−18,203$1,513,397→ 60,320 total - Exercise/Conversion
Stock Option (right to buy)
[F4]2026-01-27−16,000→ 50,800 totalExercise: $19.19Exp: 2032-04-18→ Common Stock (16,000 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F5]2026-01-27−12,000→ 18,547 totalExercise: $12.17Exp: 2033-01-15→ Common Stock (12,000 underlying)
Footnotes (5)
- [F1]Includes an aggregate of 446 shares acquired by the Reporting Person under the Issuer's 2016 Employee Stock Purchase Plan on September 9, 2025.
- [F2]The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $82.77 to $83.595. Upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F3]The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $82.80 to $83.595. Upon request by the staff of the U.S. Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price.
- [F4]The stock option was granted to the Reporting Person on April 18, 2022, one quarter vested on April 18, 2023 and the remaining three quarters vest in equal monthly installments through April 18, 2026, subject to the Reporting Person's continued service to the Issuer.
- [F5]The stock option was granted to the Reporting Person on January 16, 2023 and vests in 48 equal monthly installments following the date of grant, subject to the Reporting Person's continued service to the Issuer.