Giraudo Bryan 4

4 · Protagonist Therapeutics, Inc · Filed May 11, 2026

AI-generated summary of this filing

Updated May 12, 2026

Protagonist (PTGX) Director Bryan Giraudo Sells Shares, Exercises Options

What Happened

Bryan Giraudo, a director of Protagonist Therapeutics (PTGX), exercised stock options and conducted multiple open-market sales on May 7–8, 2026. He exercised 36,000 option shares (24,000 @ $6.45 and 12,000 @ $6.98), paying a total of $238,560 in strike costs. He sold a total of 59,130 shares in several transactions for aggregate proceeds of approximately $5,918,880 (weighted sale prices reported; individual sales ranged from $98.69 to $104.67).
The filing also includes two derivative transactions listed at $0.00 for 24,000 and 12,000 shares (these entries typically reflect net settlement/withholding related to the option exercises). A separate note shows 10,000 shares previously held directly were transferred to the Bryan & Courtney Giraudo Trust.

Key Details

Transaction dates: May 7, 2026 (majority of exercises and sales) and May 8, 2026 (additional sales). Form 4 filed May 11, 2026 (within the two-business-day reporting window).
Options exercised: 24,000 shares @ $6.45 ($154,800) and 12,000 shares @ $6.98 ($83,760) — total cash paid ≈ $238,560.
Shares sold: 36,000 @ $100.14 (≈ $3,605,040); 12,000 @ $100.07 (≈ $1,200,840); 6,000 @ $100.00 (≈ $600,000); 5,130 @ $100.00 (≈ $513,000). Total proceeds ≈ $5,918,880. Reported sale prices ranged $98.69–$104.67 (weighted average used per footnote).
Derivative/zero-price entries: 24,000 and 12,000 shares listed with $0.00 — likely reflect share withholding or net settlement tied to the option exercises (no cash proceeds).
Footnotes: F1 notes transfer of 10,000 shares to the Bryan & Courtney Giraudo Trust; F3 confirms the options were fully vested.
Shares owned after the reported transactions: not specified in the excerpt provided.

Context

This is a common insider pattern: exercise of vested options followed by immediate or same-day sales (often to cover strike costs and taxes). The filing shows both the cash required to exercise ($238.6K) and the large open-market sales ($5.92M in proceeds).
These transactions are routine disclosures of insider activity. They are factual records of the exercises and sales; they do not, by themselves, explain the insider’s motivations.

Form 4

Period: 2026-05-07

Director

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-05-07$6.45/sh+24,000$154,800→ 31,825 total
Exercise/Conversion
Common Stock
2026-05-07$6.98/sh+12,000$83,760→ 43,825 total
Sale
Common Stock
[F2]
2026-05-07$100.14/sh−36,000$3,605,040→ 27,825 total
Sale
Common Stock
[F1]
2026-05-07$100.07/sh−12,000$1,200,840→ 6,000 total(indirect: By Trust)
Sale
Common Stock
2026-05-08$100.00/sh−6,000$600,000→ 0 total(indirect: By Trust)
Sale
Common Stock
2026-05-08$100.00/sh−5,130$513,000→ 12,695 total
Exercise/Conversion
Stock Option (right to buy)
[F3]
2026-05-07−24,000→ 0 total
Exercise: $6.45Exp: 2028-05-14→ Common Stock (24,000 underlying)
Exercise/Conversion
Stock Option (right to buy)
[F3]
2026-05-07−12,000→ 0 total
Exercise: $6.98Exp: 2028-05-28→ Common Stock (12,000 underlying)

Footnotes (3)

[F1]Reflects 10,000 shares of common stock that were previously held directly by the Reporting Person and which were transferred to the Bryan & Courtney Giraudo Trust.
[F2]The price reported represents the weighted average sale price per share. The shares were sold in multiple transactions at prices ranging from $98.69 to $104.67. 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]These stock options are fully vested.

Signature

/s/ Matthew Gosling, Attorney-in-Fact for Bryan Giraudo|2026-05-11

1 file