TANG KEVIN 4
4 · Aurinia Pharmaceuticals Inc. · Filed Jun 2, 2026
Research Summary
AI-generated summary of this filing
Aurinia (AUPH) CEO Kevin Tang Buys Stock, Funds Sell Puts
What Happened
- Kevin Tang, Chief Executive Officer of Aurinia Pharmaceuticals (AUPH), made multiple open-market purchases totaling 814,606 common shares between May 29 and June 2, 2026, at weighted-average prices in the $15.00–$15.40 range for aggregate cash consideration of about $12.46 million.
- In addition, related entities (Tang-affiliated funds) recorded a derivative transaction on June 2, 2026: sale of 10,000 put options (premium $1.65 reported) that create a potential obligation to acquire up to 1,000,000 common shares at a $15 strike price expiring January 15, 2027. The derivative item is shown as $16,500 in consideration (option premium).
Key Details
- Transaction dates: May 29, 2026; June 1, 2026; June 2, 2026. Open-market purchases reported at weighted-average prices ~ $15.28–$15.35 (individual price ranges per footnotes: $14.97–$15.50, $15.00–$15.40, $15.05–$15.37, and specific $15.34 entries).
- Purchase totals: 814,606 shares bought in open-market trades for ~ $12,455,227; plus 10,000 derivative contracts/premium entries for $16,500 (total reported consideration ≈ $12.47M). Combined shares reported acquired on Form 4 = 824,606 (including the derivative line).
- Derivative/put detail: Footnotes state the funds sold 10,000 put options on June 2; each put gives the counterparty the right to sell (i.e., the funds have the potential obligation to buy) up to 1,000,000 shares at $15 through Jan 15, 2027. The puts are exercisable only at the counterparty’s option.
- Beneficial ownership/relationships: Footnotes identify several Tang-affiliated entities (Tang Capital Partners, TCP III, TCP IV, etc.) and state Mr. Tang has a pecuniary interest in shares held by those funds.
- Filing timeliness: Form 4 was filed June 2, 2026, which is within the typical two-business-day reporting window for the listed transaction dates (i.e., the filing appears timely).
- Shares owned after transaction: Not specified in the provided filing excerpt.
Context
- Purchases are outright open-market acquisitions (ticker-level bullish signal to some investors since executives buying stock may indicate confidence, but do not prove future performance).
- The put sales are an options strategy by Tang-affiliated funds that generates premium now but creates a contingent obligation to buy shares at $15 if exercised; it is not an immediate purchase of those 1,000,000 shares.
- All statements are factual summaries of the Form 4 filing; no motive or performance prediction is implied.
Insider Transaction Report
Form 4
TANG KEVIN
DirectorChief Executive Officer10% Owner
Transactions
- Purchase
Common Shares
[F1][F2]2026-05-29$15.35/sh+2,299$35,290→ 12,231,799 total(indirect: By LP) - Purchase
Common Shares
[F3][F2]2026-05-29$15.31/sh+262,682$4,021,661→ 12,494,481 total(indirect: By LP) - Purchase
Common Shares
[F4][F2]2026-06-01$15.28/sh+343,521$5,249,001→ 12,838,002 total(indirect: By LP) - Purchase
Common Shares
[F5][F2]2026-06-01$15.34/sh+99$1,519→ 12,838,101 total(indirect: By LP) - Purchase
Common Shares
[F6][F2]2026-06-02$15.28/sh+206,005$3,147,756→ 13,044,106 total(indirect: By LP) - Other
Short Put Options (potential obligation to buy)
[F7][F8]2026-06-02$1.65/sh+10,000$16,500→ 10,000 total(indirect: By LP)Exercise: $15.00From: 2026-06-02Exp: 2027-01-15→ Common Shares (1,000,000 underlying)
Footnotes (8)
- [F1]The prices reported are weighted-average prices. These shares were purchased in multiple transactions at prices ranging from $15.33 to $15.38. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares purchased at each price within the ranges set forth in Footnotes 1 and 3 through 6.
- [F2]Tang Capital Partners, LP ("TCP") beneficially owns 7,205,442 shares, Tang Capital Partners International, LP ("TCPI") beneficially owns 5,239,039 shares, Tang Capital Partners III, Inc. ("TCP III") beneficially owns 324,814 shares, and Tang Capital Partners IV, Inc. ("TCP IV") beneficially owns 274,811 shares. Kevin Tang is the sole manager of Tang Capital Management, LLC, which is the general partner of TCP and TCPI. Kevin Tang is the sole director and Chief Executive Officer of TCP III and TCP IV, which are indirectly wholly owned by TCP. Mr. Tang has a pecuniary interest in the shares beneficially held by TCP, TCPI, TCP III and TCP IV (collectively, the "Funds").
- [F3]These shares were purchased in multiple transactions ranging from $15.05 to $15.37.
- [F4]These shares were purchased in multiple transactions ranging from $14.97 to $15.50.
- [F5]These shares were purchased at $15.34.
- [F6]These shares were purchased in multiple transactions ranging from $15.00 to $15.40.
- [F7]Each put option is exercisable only at the option of the counterparty through the expiration date of the put option.
- [F8]Securities are beneficially held by TCP III and TCP IV. The Funds sold 10,000 put options on June 2, 2026. Pursuant to the put option contracts, the Funds have the potential obligation to acquire 1,000,000 common shares of the Issuer at $15 expiring on January 15, 2027.