KENNEY CHRISTOPHER JOHN 4
4 · Xenon Pharmaceuticals Inc. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Xenon (XENE) CMO Christopher Kenney Sells 1,410 Shares
What Happened
Christopher Kenney, Chief Medical Officer of Xenon Pharmaceuticals (XENE), had 3,750 RSUs vest/convert on March 12, 2026 and then sold 1,410 shares in the open market on March 13, 2026 at $55.23 per share, generating $77,867 in proceeds. The Form 4 also shows a related derivative disposition reported at $0, consistent with shares withheld/cancelled to satisfy tax withholding tied to the RSU vesting.
Key Details
- Transaction dates/prices:
- March 12, 2026: 3,750 RSUs exercised/converted into common shares (report lists as derivative exercise/conversion).
- March 12, 2026: 3,750 shares reported disposed at $0.00 (derivative-related, consistent with withholding).
- March 13, 2026: Open-market sale of 1,410 shares at $55.23 each; proceeds $77,867.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Footnotes:
- F1: These shares came from an RSU award granted March 12, 2025 that vests 25% each year starting March 12, 2026.
- F2: The sale was executed under a Rule 10b5‑1 sell‑to‑cover instruction (adopted Dec 3, 2025) solely to satisfy tax withholding on the vesting RSUs.
- Filing timeliness: Reported period 2026-03-12 and filed 2026-03-13 — appears timely (filed the next day).
Context
This activity reflects RSU vesting with a routine sell‑to‑cover tax transaction rather than an independent, discretionary sale for investment reasons. The derivative entries indicate conversion of RSUs into shares and withholding/cancellation to meet tax obligations; the 10b5‑1 plan governed the market sale of the portion sold. Such transactions are common following equity vesting and are typically for tax compliance rather than a directional insider market signal.
Insider Transaction Report
- Exercise/Conversion
Common Shares
[F1]2026-03-12+3,750→ 8,479 total - Sale
Common Shares
[F2]2026-03-13$55.23/sh−1,410$77,867→ 7,069 total - Exercise/Conversion
Restricted Share Units
[F1]2026-03-12−3,750→ 11,250 total→ Common Shares (3,750 underlying)
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.