MORTIMER IAN 4
4 · Xenon Pharmaceuticals Inc. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Xenon (XENE) CEO Ian Mortimer Sells Shares, Receives RSU Vesting
What Happened
Ian Mortimer, President & CEO and a director of Xenon Pharmaceuticals (XENE), had 12,500 restricted stock units (RSUs) vest on March 12, 2026 (reported as a conversion/exercise of a derivative). Following the vesting, Mortimer sold 7,308 shares in an open-market transaction on March 13, 2026 at $55.23 per share, generating $403,584. The sale was executed pursuant to a pre-established Rule 10b5-1 durable sell-to-cover instruction to satisfy tax withholding on the RSU vesting — a routine, tax-related disposition rather than a discretionary market-timing sale.
Key Details
- Transaction dates/prices:
- March 12, 2026: 12,500 RSUs vested / converted to shares (Form 4 shows derivative code M).
- March 13, 2026: Sold 7,308 shares at $55.23 each for $403,584.
- Shares owned after transaction: Not specified in the filing.
- Footnotes:
- F1: RSU award granted March 12, 2025; vests 25% annually starting March 12, 2026.
- F2: Sales effected under a Rule 10b5-1 durable sell-to-cover plan adopted Dec 3, 2025 solely to satisfy tax withholding on the RSU vesting.
- Filing timeliness: Reported on March 13, 2026 for a March 12 transaction (filed the next day, not indicated as late).
Context: The filing shows a conversion/exercise-style entry because RSUs converted into shares at vesting. The subsequent partial sale was a tax-withholding sell-to-cover, a common and generally non-informative insider sale used to meet tax obligations.
Insider Transaction Report
- Exercise/Conversion
Common Shares
[F1]2026-03-12+12,500→ 27,231 total - Sale
Common Shares
[F2]2026-03-13$55.23/sh−7,308$403,584→ 19,923 total - Exercise/Conversion
Restricted Share Units
[F1]2026-03-12−12,500→ 37,500 total→ Common Shares (12,500 underlying)
- 14,300(indirect: By Spouse)
Common Shares
Footnotes (2)
- [F1]Represents shares earned and vested under a restricted share unit ("RSU") award granted to the reporting person on March 12, 2025. The RSU award vests 25% on each of the first four anniversaries of the date of grant, beginning on March 12, 2026.
- [F2]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading arrangement, in the form of a durable sell-to-cover instruction, adopted by the reporting person on December 3, 2025, solely to satisfy tax withholding obligations related to the vesting of RSUs granted on March 12, 2025.