Moran Kevin Patrick 4

What Happened
Kevin Patrick Moran, SVP, Chief Financial Officer & Treasurer of Vanda Pharmaceuticals (VNDA), was granted 125,000 restricted stock units (RSUs) on 2026-02-18. The Form 4 shows an acquisition code "A" for an award at $0.00 per share (no cash paid) — the grant itself has no immediate monetary exchange reported.

Key Details

• Transaction date: 2026-02-18; reported on Form 4 filed 2026-02-19.
• Transaction type/code: Award/Grant (A).
• Amount: 125,000 RSUs; reported acquisition price $0.00 (award).
• Shares owned after transaction: Not stated in this filing.
• Footnote: RSUs vest in four equal annual installments beginning March 1, 2027, provided continued employment; vested shares delivered on the First Permissible Trading Day after each vesting date.
• Filing timeliness: Filed the day after the transaction (appears timely, not marked late).

Context
These are time-based RSUs (compensation awards), not an open-market purchase or sale; the RSUs do not convert to actual shares until they vest, so this grant is a future equity compensation entitlement rather than an immediate change in market exposure. For retail investors, such grants are common for executive compensation and do not by themselves indicate a buying or selling signal.