MannKind Director Steven Binder Receives Award, Sells 52,485 Shares

What Happened Steven B. Binder, a director of MannKind (MNKD), had 93,790 restricted stock units (RSUs vest) on July 15, 2026 (conversion of a derivative), resulting in receipt of 93,790 shares. To cover tax withholding, 24,395 shares were delivered/withheld (three withholding entries at $4.09/share totaling ~$99,776). Separately, Binder sold 52,485 shares in an open‑market transaction on July 17, 2026 at a weighted average price of $4.06 for proceeds of $213,089.

Key Details

• Transaction dates: RSU vesting/conversion and withholding on 2026-07-15; open‑market sale on 2026-07-17. Filing date: 2026-07-17 (timely).
• Vesting: 93,790 shares delivered after a performance RSU award (achievement at 83% of target). Original award was 113,000 shares; 19,210 shares were forfeited per performance criteria (Footnote F1).
• Tax withholding: 15,688 / 4,073 / 4,634 shares withheld at $4.09 each (total cash value ≈ $99,776) (Footnote F2).
• Sale: 52,485 shares sold under a Rule 10b5‑1 plan established 12/02/2025 at a weighted average $4.06 (range $3.98–$4.13); proceeds ≈ $213,089 (Footnotes F3, F4).
• Each RSU = one share (F5).
• Shares retained after this vesting and transactions (based on this event): 93,790 − 24,395 (withheld) − 52,485 (sold) = 16,910 shares remaining from the vested award.

Context This transaction is primarily a vesting of performance RSUs with routine tax‑withholding share delivery and a planned sale under a 10b5‑1 plan. The filing shows conversion of RSUs (reported as derivative activity, code M), withholding for taxes (code F), and an open‑market sale (code S). These are standard insider administrative transactions rather than an outright open‑market purchase indicating bullish intent.