TANG KEVIN 4

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.