Tross Stuart A 4

What Happened

• Stuart A. Tross, MannKind’s Chief People & Workpl Officer, received two grants of restricted stock units (RSUs) on 2026-03-23: 221,000 RSUs and 217,000 RSUs, for a total of 438,000 RSUs. Both grants were reported as awards (transaction code A) with an acquisition price of $0 (derivative awards representing contingent rights to shares).

Key Details

• Transaction date: 2026-03-23; Form 4 filed: 2026-03-25 (timely).
• Grants: 221,000 RSUs and 217,000 RSUs; total 438,000 RSUs; acquisition price $0 (derivative).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes of note:
  • F1: Each RSU represents a contingent right to receive one share of MNKD common stock upon settlement.
  • F2: One grant is performance-based and vests (if earned) on January 15, 2029 based on MannKind TSR vs. the Russell 3000 Pharmaceutical & Biotechnology Index; payout ranges from 0% to 300% of target depending on percentile ranking (interpolated).
  • F3: The other grant follows time-based vesting: 25% on March 23, 2027, then 1/16th of the remainder quarterly thereafter.
• Filing timeliness: filed within two business days of the transaction date (no late filing noted).

Context

• These were awards, not open-market purchases or sales — no cash changed hands at grant. RSUs are derivative awards that convert to actual shares only if and when vesting conditions are met; their ultimate value depends on MNKD’s share price at settlement and, for the performance RSU, on relative TSR achievement.
• For retail investors: awards signal company compensation actions and potential future dilution when/if RSUs vest and settle; they do not by themselves indicate insider buying or selling intent.