PATEL DINESH V PH D 4
4 · Protagonist Therapeutics, Inc · Filed Jan 27, 2026
Research Summary
AI-generated summary of this filing
Protagonist (PTGX) CEO Dinesh Patel Exercises Options, Sells Shares
What Happened Dinesh V. Patel, Ph.D., President, CEO and Director of Protagonist Therapeutics (PTGX), exercised stock options and immediately sold the resulting shares in open-market transactions. Across trades on Jan 23–27, 2026 he sold 48,273 shares for total proceeds of approximately $4.06 million. He paid roughly $520,631 to exercise those options, yielding net proceeds of about $3.54 million. He also made a charitable gift of 6,000 shares to a donor-advised fund on Jan 23.
Key Details
- Transaction dates: Jan 23, Jan 26, Jan 27, 2026 (Form 4 filed Jan 27, 2026).
- Shares sold (open-market): 19,315 (1/23), 10,685 (1/26), 14,205 (1/26), 4,068 (1/27) — total 48,273; total proceeds ≈ $4,063,743.
- Exercise (paid) amounts: 19,315 @ $4.21 ($81,316); 10,685 @ $4.21 ($44,984); 14,205 @ $21.58 ($306,544); 4,068 @ $21.58 ($87,787). Total cash paid ≈ $520,631.
- Gift: 6,000 shares donated to a donor-advised fund on Jan 23 (footnote F1).
- Sale price details (weighted averages and reported ranges):
- 1/23 sale Wtd avg $84.59 (range $84.41–$84.64) — F2
- 1/26 sale of 10,685 Wtd avg $84.00 (range $84.00–$84.095) — F3
- 1/26 sale of 14,205 Wtd avg $84.05 (range $84.00–$84.075) — F4
- 1/27 sale Wtd avg $83.19 (range $83.06–$83.59) — F5
- Options status: the exercised options were fully vested; some options expire on Apr 29, 2026 (F6) and others on Oct 11, 2026 (F7).
- Shares owned after transaction: not disclosed in the provided excerpt of the filing.
- Filing timeliness: Form 4 was filed Jan 27 reporting trades through Jan 27 — appears to be timely (Form 4s are generally due within two business days).
Context
- These were option exercises followed immediately by open-market sales (a cashless-style outcome). For retail investors, purchases are often considered more informative than sales; here the insider converted options to stock and monetized them rather than adding to his public holding.
- The 6,000-share gift to a donor-advised fund is a charitable transfer and does not necessarily indicate a view on the company’s stock price.
Insider Transaction Report
Form 4
PATEL DINESH V PH D
DirectorPresident and CEO
Transactions
- Gift
Common Stock
[F1]2026-01-23−6,000→ 574,505 total - Exercise/Conversion
Common Stock
2026-01-23$4.21/sh+19,315$81,316→ 593,820 total - Sale
Common Stock
[F2]2026-01-23$84.59/sh−19,315$1,633,856→ 574,505 total - Exercise/Conversion
Common Stock
2026-01-26$4.21/sh+10,685$44,984→ 585,190 total - Sale
Common Stock
[F3]2026-01-26$84.00/sh−10,685$897,540→ 574,505 total - Exercise/Conversion
Common Stock
2026-01-26$21.58/sh+14,205$306,544→ 588,710 total - Sale
Common Stock
[F4]2026-01-26$84.05/sh−14,205$1,193,930→ 574,505 total - Exercise/Conversion
Common Stock
2026-01-27$21.58/sh+4,068$87,787→ 578,573 total - Sale
Common Stock
[F5]2026-01-27$83.19/sh−4,068$338,417→ 574,505 total - Exercise/Conversion
Stock Option (right to buy)
[F6]2026-01-23−19,315→ 10,685 totalExercise: $4.21Exp: 2026-04-29→ Common Stock (19,315 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F6]2026-01-26−10,685→ 0 totalExercise: $4.21Exp: 2026-04-29→ Common Stock (10,685 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F7]2026-01-26−14,205→ 304,068 totalExercise: $21.58Exp: 2026-10-11→ Common Stock (14,205 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F7]2026-01-27−4,068→ 300,000 totalExercise: $21.58Exp: 2026-10-11→ Common Stock (4,068 underlying)
Footnotes (7)
- [F1]On January 23, 2026, the Reporting Person made a charitable donation of 6,000 shares of common stock to a donor-advised fund, which will use the gifted shares for charitable purposes.
- [F2]The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $84.41 to $84.64. 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 $84 to $84.095. 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 price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $84 to $84.075. 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.
- [F5]The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $83.06 to $83.59. 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.
- [F6]These stock options are fully vested and will expire on April 29, 2026.
- [F7]These stock options are fully vested and will expire on October 11, 2026.
Signature
/s/ Matthew Gosling, Attorney-in-Fact for Dinesh V. Patel, Ph.D.|2026-01-27