KAKKIS EMIL D 4

What Happened

• Emil D. Kakkis, President & CEO and Director of Ultragenyx Pharmaceutical Inc. (RARE), received equity awards on 2026-04-16 totaling 209,438 restricted stock units (RSUs): 76,745 RSUs (direct) and 132,693 RSUs reported as derivative units. Each tranche was granted at $0.00 (no cash purchase price).
• These are awards (not open-market purchases or sales) and thus represent compensation, not an immediate cash investment or divestment.

Key Details

• Transaction date: 2026-04-16; Form 4 filed 2026-04-20 (filed 4 days after the transaction — appears late under Section 16 timing rules).
• Grant amounts and prices: 76,745 RSUs @ $0.00 (acquired); 132,693 RSUs @ $0.00 (acquired, derivative).
• Vesting: RSUs vest 1/4 on each anniversary of the grant and fully vest on the fourth anniversary (see footnote F1).
• Beneficial ownership note: The filing states the reported beneficial ownership after the transaction reflects the contribution of 400,000 shares previously owned indirectly to two grantor retained annuity trusts (GRATs) (footnote F3).
• Other footnotes: F2 references previously reported RSUs subject to vesting; F4 describes an option vesting schedule referenced elsewhere in the filing.

Context

• RSU grants are common executive compensation and do not indicate an immediate market purchase or sale — they convert to shares as they vest. Derivative RSUs mean the grant is reported as a right to future shares rather than immediate stock issued.
• Contributions to GRATs are estate-planning transfers and are not the same as open-market sales; they generally do not signal a view on the company’s near-term stock direction.