PATEL DINESH V PH D 4

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.