Waddill William D. 4

What Happened William D. Waddill, a director of Protagonist Therapeutics (PTGX), exercised options to acquire 20,000 shares at $8.31 per share (cost $166,200) and sold 20,000 shares in an open-market transaction on February 6, 2026 for a weighted average price of $83.68 per share (proceeds ≈ $1,673,600). The filing also reports a derivative conversion/disposition of 20,000 shares listed with $0 proceeds related to the same transactions. Overall, this appears as a same-day exercise and sale (i.e., option exercise followed by sale), which is commonly used to cover exercise costs and taxes.

Key Details

• Transaction date: 2026-02-06 (reported filed same day)
• Exercise: 20,000 shares exercised at $8.31 each — total cash paid $166,200
• Sale: 20,000 shares sold in open market at weighted average $83.68 — total proceeds ≈ $1,673,600
• Sale price range (per footnote): $83.65 to $83.87; weighted average reported
• Footnote: Options exercised are fully vested (F2); sale prices reported as a weighted average and per-share breakouts available on request (F1)
• Shares owned after transaction: not specified in the summary provided — see the full Form 4 for post-transaction beneficial ownership
• Filing timeliness: reported on the same date as the transactions; no late filing indicated

Context

• This was an option exercise immediately followed by a sale (cashless-style), which converts vested option value into cash rather than signaling a new purchase/bullish bet. Insiders sell stock for many routine reasons (taxes, diversification); such sales do not by themselves indicate company performance.