KENNEY CHRISTOPHER JOHN 4

What Happened

• Christopher Kenney, Chief Medical Officer of Xenon Pharmaceuticals (XENE), had 7,500 performance share units (PSUs) vest and convert into common shares on 2026-03-09 (no cash purchase). Following the vesting, he sold 2,771 shares in an open-market transaction on 2026-03-10 at $60.11 per share, generating $166,559. The Form 4 shows the PSU award/conversion entries (7,500 shares) and the subsequent open-market sale.

Key Details

• Transaction dates and prices:
  • 2026-03-09: 7,500 PSUs vested/converted to 7,500 shares (award/exercise entries at $0.00; derivative conversion).
  • 2026-03-10: Open-market sale of 2,771 shares at $60.11 each, proceeds $166,559.
• Shares owned after transaction: Not disclosed in the provided excerpt of the filing.
• Footnotes:
  • F1: PSUs were granted March 11, 2024 and vested upon a board determination; 7,500 shares were earned and vested.
  • F2: The 2,771-share sale was made under a pre-established Rule 10b5-1 “sell-to-cover” arrangement (adopted Dec 3, 2025) to satisfy tax withholding related to the PSU vesting.
• Filing timeliness: Form filed 2026-03-11 for transactions on Mar 9–10, 2026 — appears to be filed within the normal reporting window (no late-filing flag shown).

Context

• These transactions reflect a typical post-vesting settlement and sell-to-cover for tax obligations: PSUs converted into shares, and a portion sold under a prearranged 10b5-1 plan to cover taxes. Such sell-to-cover sales are routine and do not, by themselves, indicate a change in the insider’s overall view of the company.