MannKind CEO Michael Castagna Receives RSU Award, Withholds Shares

What happened

• Michael Castagna, CEO of MannKind (MNKD), had 350,260 restricted stock units (RSUs vest) on July 15, 2026 and was issued 350,260 shares (exercise/conversion reported at $0.00). To cover tax and similar liabilities, the filing shows withholding/disposition of shares in several transactions at $4.09 per share (192,819; 47,481; 63,996; and 58,904 shares), totaling about $1,485,488. The filing treats the vesting/conversion of the RSUs as a derivative exercise and the subsequent share withholding as payment of tax liability (cashless withholding).

Key details

• Transaction date: July 15, 2026.
• Primary entries: acquisition/conversion of 350,260 RSUs @ $0.00; withholding disposals at $4.09 per share (listed quantities above).
• Withholding amounts shown sum to ~$1,485,488 (four line items).
• Footnotes: the RSU award (originally 422,000 shares) vested at 83% of target based on performance criteria, resulting in delivery of 350,260 shares and forfeiture of 71,740 shares (F1). Each RSU equals one share (F4). Withholding was done by delivering/withholding shares to satisfy tax liabilities (F3). Filing notes inclusion of 4,409 ESPP shares (F2).
• Shares owned after the transaction are not specified in the provided excerpt.
• Filing timeliness: reported 7/17/2026 for a 7/15/2026 transaction — appears timely (not marked late).

Context

• This was a performance-based RSU vesting and routine withholding to meet tax obligations — not an open-market sale. In filings, share withholding to cover taxes is treated as a disposition (code F) but typically reflects a standard payroll/tax process rather than an investment decision.