Biddle Warner Weston 4

What Happened
Biddle Warner Weston, Chief Executive Officer of Kyverna Therapeutics (KYTX), received two awards on March 13, 2026: 58,000 restricted stock units (RSUs) and a 350,000-share derivative award (stock option-style grant). Both awards were granted at no cash cost to Weston (acquisition price reported as $0.00). These are grants/awards (code A) — not purchases or sales — and therefore represent compensation/long-term incentive awards rather than open-market buying or selling.

Key Details

• Transaction date: March 13, 2026; Form 4 filed March 17, 2026 (timely within the two-business-day rule).
• Awards: 58,000 RSUs (footnote F1) and 350,000 derivative awards (footnote F2); total = 408,000 shares. Reported acquisition price: $0.00.
• Vesting (per filing footnotes):
  • F1 (58,000 RSUs): 1/4 vests on March 13, 2027, then 1/4 on each annual anniversary thereafter (4-year annual vesting), subject to continued service.
  • F2 (350,000 derivative awards/options): 1/4 vests on March 13, 2027, then 1/48 of the total vests each month thereafter (monthly vesting after one‑year cliff), subject to continued service.
• Shares owned after transaction: not reported in the information provided in your query.
• Other: Exhibit 24 (Power of Attorney) attached to the filing.

Context

• These were compensation awards (RSUs and an option-like derivative), not exercises or sales — no immediate cash outlay or share sale occurred.
• Derivative awards here refer to option-style rights that vest over time; they are not the same as immediately owned common shares until vested/exercised.
• Such grants are routine for executive compensation and do not by themselves indicate buying or selling sentiment.