Thomson David 4
4 · MANNKIND CORP · Filed Jul 17, 2026
Research Summary
AI-generated summary of this filing
MannKind (MNKD) EVP David Thomson Exercises RSUs and Sells Shares
What Happened
- David Thomson, EVP, General Counsel & Secretary of MannKind (MNKD), had 93,790 restricted stock units (RSUs) vest on July 15, 2026 (conversion recorded at $0.00). To cover tax liabilities, portions of the vested shares were delivered/withheld (four withholding transactions totaling $402,563). Separately, 24,109 shares were sold in an open-market sale on July 17, 2026 for $97,641 (weighted average sales price $4.05).
Key Details
- Transaction dates and prices:
- 2026-07-15: RSU vesting/conversion reported for 93,790 shares (exercise/conversion M) at $0.00.
- 2026-07-15: Tax-withholding deliveries (code F) — 51,632 @ $4.09 ($211,175); 12,662 @ $4.09 ($51,788); 17,754 @ $4.09 ($72,614); 16,378 @ $4.09 ($66,986). Total tax-withholding value reported: $402,563.
- 2026-07-17: Open-market sale (S) — 24,109 shares @ $4.05 for $97,641 (weighted avg $4.05; price range $3.98–$4.13).
- Shares owned after transaction: Not disclosed in the provided excerpt — see the filed Form 4 for full beneficial ownership.
- Notable footnotes:
- F1: The RSU award was a performance award granted May 25, 2023 that vested at 83% of target (93,790 shares delivered; 19,210 forfeited).
- F2: Withholding/delivery of shares was to satisfy tax liabilities incident to the RSU vesting.
- F3: The July 17 sale occurred under a Rule 10b5-1 trading plan established Dec 2, 2025.
- F4: Weighted average sales price reported as $4.05 (range $3.98–$4.13).
- F5: Each RSU converts to one share of MNKD common stock.
- Timeliness: Form 4 was filed July 17, 2026 for transactions on July 15, 2026 — within the usual two business-day reporting window (timely).
Context
- This filing reflects a performance-based RSU vesting (an award being settled), not an outright market purchase. The withheld shares are routine tax withholding tied to the vesting event; the separate open-market sale was executed under a pre-existing 10b5-1 plan. Such sales following vesting are common and don't, by themselves, indicate insider sentiment about the company.
Insider Transaction Report
Form 4
MANNKIND CORPMNKD
Thomson David
EVP Genl Counsel & Secretary
Transactions
- Exercise/Conversion
Common Stock, $0.01 Par Value
[F1]2026-07-15+93,790→ 920,089 total - Tax Payment
Common Stock, $0.01 Par Value
[F2]2026-07-15$4.09/sh−51,632$211,175→ 868,457 total - Tax Payment
Common Stock, $0.01 Par Value
[F2]2026-07-15$4.09/sh−12,662$51,788→ 855,795 total - Tax Payment
Common Stock, $0.01 Par Value
[F2]2026-07-15$4.09/sh−17,754$72,614→ 838,041 total - Tax Payment
Common Stock, $0.01 Par Value
[F2]2026-07-15$4.09/sh−16,378$66,986→ 821,663 total - Sale
Common Stock, $0.01 Par Value
[F4][F3]2026-07-17$4.05/sh−24,109$97,641→ 797,554 total - Exercise/Conversion
Performance Restricted Stock Unit
[F5][F1]2026-07-15−93,790→ 0 total→ Common Stock, $0.01 Par Value (93,790 underlying)
Footnotes (5)
- [F1]A previously reported restricted stock unit award granted on May 25, 2023 vested on July 15, 2026 upon the achievement of performance objectives established by MannKind's compensation committee at the time of the approval of the award. Specifically, (i) the closing price of MannKind's common stock on June 30, 2026 was not less than the closing price on May 25, 2023 and (ii) MannKind's total shareholder return (TSR) over the period from May 23, 2023 to June 30, 2026 was at the 41.5th percentile of the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period. As a result, the performance objective was achieved at 83% of target, resulting in a total share delivery of 93,790 shares. The acquisition of 113,000 shares pursuant to the restricted stock award was reported in Table II of the Form 4 filed by the Reporting Person on May 26, 2023. The remaining 19,210 shares were forfeited in accordance with the performance vesting criteria.
- [F2]Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3 incident to the vesting of previously reported restricted stock units.
- [F3]Transaction occurred pursuant to Rule 10B5-1 Plan established December 2, 2025.
- [F4]The weighted average sales price of the reported transaction was $4.05 based on a range of prices between $3.98 and $4.13. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.
- [F5]Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
Signature
/s/ David Thomson|2026-07-17