Castagna Michael 4

What Happened

• Michael Castagna, CEO of MannKind Corp (MNKD), acquired shares in two ways: a board-approved purchase of 15,290 shares on March 1, 2026 at $3.27 per share for $49,998, and the acquisition of 145,275 shares on February 26, 2026 resulting from partial vesting of previously granted performance-based options (recorded at $0.00 per share in the filing).

Key Details

• Transaction dates and prices:
  • 2026-03-01: Purchased 15,290 shares at $3.27 each — total cash outlay $49,998 (through the issuer’s Market Price Stock Purchase Plan; Board approved the purchase).
  • 2026-02-26: Acquired 50,000 + 57,750 + 37,525 = 145,275 shares at $0.00 each (derivative acquisitions reflecting partial vesting of performance options granted in 2016–2017).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Notable footnotes:
  • F1: Purchase executed under the company’s Market Price Stock Purchase Plan (effective May 13, 2023); Board approval noted March 1, 2026.
  • F2–F4: The 145,275-share acquisitions reflect partial vesting of options granted May 19, 2016; May 29, 2017; and May 25, 2017 upon achievement of defined performance milestones.
• Filing: Form 4 accessioned March 2, 2026 reporting transactions dated Feb 26 and Mar 1, 2026.

Context

• The Feb 26 entries are derivative transactions (performance-option vesting), not open-market buys; they represent issuance/conversion tied to achievement of milestones rather than a cash purchase. The March 1 transaction is a direct purchase under the company plan — purchases are often considered more informative to investors than routine option vesting or internal awards. No sales or immediate dispositions were reported in this filing.