TANG KEVIN 4

What Happened

• Kevin Tang, a director of Aurinia Pharmaceuticals (AUPH), made a series of open-market purchases totaling 900,000 shares between Feb 27 and Mar 3, 2026. The purchases totaled approximately $12,688,806 (weighted-average ≈ $14.10 per share).
• Breakdown by trade date (reported on the Form 4 filed Mar 3, 2026):
  • 2026-02-27: 516,439 shares (weighted avg $≈13.99) — reported line items: 300,000 @ $13.90, 214,839 @ $14.12, 1,600 @ $14.38 — aggregate ≈ $7,226,535.
  • 2026-03-02: 199,353 shares (weighted avg ≈ $14.26) — 83,561 @ $14.33 and 115,792 @ $14.21 — aggregate ≈ $2,842,833.
  • 2026-03-03: 184,208 shares @ $14.22 — aggregate ≈ $2,619,438.
• These were purchases (transaction code P), which are purchases of stock (often considered a more informative insider action than routine sales).

Key Details

• Transaction dates: Feb 27, 2026; Mar 2, 2026; Mar 3, 2026. Form 4 filed: Mar 3, 2026.
• Price details: weighted-average prices reported; per-footnote ranges across the trades from $13.51 up to $14.61 depending on individual executions. The filing offers to provide per-lot prices on request.
• Shares owned after transaction: the filing excerpt here does not state Kevin Tang’s individual post-trade total; it does disclose related-party holdings: Tang Capital Partners, LP owns 6,990,461 shares and Tang Capital Partners International, LP owns 5,239,039 shares. Kevin Tang is sole manager of the general partner and has a pecuniary interest in those holdings (see footnote).
• Footnotes of note: F1 indicates weighted-average prices and multiple executions (per-lot details available on request). Other footnotes give execution price ranges for specific trade groups (see filing).
• Filing timeliness: Form 4 dated Mar 3, 2026 reports trades from Feb 27–Mar 3. Form 4s are generally due within two business days of a reportable transaction — consult the filed Form 4 for any official late-filing notation.

Context

• These were open-market purchases (code P). Purchases by directors can be interpreted by investors as an alignment with company prospects, but they are factual disclosures — they do not prove motive.
• Kevin Tang’s connection to Tang Capital entities (large beneficial holders) is disclosed; these purchases are personal open-market buys reported on his Form 4, separate from institutional holdings.