Castagna Michael 4

What Happened

• Michael Castagna, CEO of MannKind Corp (MNKD), had 34,957 shares withheld to satisfy tax withholding obligations tied to the vesting of restricted stock units (RSUs). The withholding price reported was $3.52 per share, for a total value of $123,049. The transaction is coded as "F" (tax withholding), not an open-market sale.

Key Details

• Transaction date: May 11, 2026; Form 4 filed: May 13, 2026 (filed within the usual reporting window).
• Shares withheld/disposed: 34,957 at $3.52 per share; total value ≈ $123,049.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Footnotes:
  • F1: These shares were withheld to pay tax withholding obligations on RSUs originally granted May 10, 2022.
  • F2: Holdings include 1,356 shares acquired under the Issuer's Employee Stock Purchase Plan on Dec 31, 2025.
• Transaction type: tax withholding on vested awards (routine administrative transaction), not a purchase or market sale.

Context

• Net share withholding to cover taxes is a common administrative action when RSUs vest; it reduces the insider's outstanding shares but does not indicate an open-market sale or a directional trade decision.
• For retail investors, such withholdings are routine and should not be interpreted alone as a bullish or bearish signal.