Kestenberg-Messina Kaitlin M. 4

What Happened
Kaitlin Kestenberg-Messina, COO and SVP Compliance of ADMA BIOLOGICS (ADMA), had 8,161 shares withheld on February 19, 2026 to satisfy mandatory tax withholding upon the vesting of restricted stock units (RSUs). The withheld shares were valued at $16.32 each for a total of $133,188. This transaction is reported with code F — tax withholding — and is not an open-market sale.

Key Details

• Transaction date and price: 2026-02-19, 8,161 shares at $16.32 each, total value $133,188. (Code: F — tax withholding)
• Shares owned after transaction: 205,451 shares of common stock directly owned by the reporting person (per footnote).
• Unvested RSUs: ~366,709 unvested RSUs across several grants (includes 91,631 from 2/9/2026, 58,338 from 2/19/2025, 144,240 from 4/1/2024, 15,000 from 7/24/2023, 47,500 from 3/6/2023, and 10,000 from 3/7/2022); vesting is generally quarterly over four years, subject to continued service.
• Not an open‑market sale: Footnote clarifies shares were withheld by the issuer to cover taxes on vested RSUs (a routine administrative step), not sold on the market.
• Filing timeliness: Report filed 2026-02-23 for a 2026-02-19 transaction; this appears timely (Form 4 due within two business days).

Context
Tax-withholding dispositions (code F) are common when RSUs vest and do not necessarily indicate an insider choosing to sell shares for liquidity or sentiment reasons. For retail investors, outright purchases by insiders tend to be more informative about confidence; routine withholdings mainly reflect tax obligations on compensation.