Katkin Keith 4
4 · Emergent BioSolutions Inc. · Filed May 4, 2026
Research Summary
AI-generated summary of this filing
Emergent BioSolutions Director Keith Katkin Sells Shares, Receives RSUs
What Happened
Keith Katkin, a member of the board of Emergent BioSolutions Inc. (EBS), sold 15,481 shares in an open-market transaction on April 30, 2026 for a total of $128,183 (weighted avg. price $8.28). On the same date he was granted 25,344 restricted stock units (RSUs) and 11,296 derivative awards (stock options), both reported with $0.00 acquisition price as board compensation grants.
Key Details
- Transaction date(s): April 30, 2026; Form 4 filed May 4, 2026 (no late-filing status indicated in the provided data).
- Sale: 15,481 shares disposed at a weighted-average price of $8.28; prices executed in the $8.23–$8.36 range; total proceeds $128,183.
- Grants: 25,344 RSUs (annual board grant) and 11,296 stock-option–type derivative awards granted at $0.00.
- Purpose of sale: Shares were sold under a Rule 10b5-1 trading plan (dated Nov 10, 2025) to satisfy tax obligations related to RSUs that vested April 29, 2026.
- Vesting: RSUs and the derivative awards vest on the “Annual Grant Vesting Date” (one day before the one‑year anniversary of the grant), contingent on continued board service.
- Shares owned after transaction: Not specified in the provided Form 4 excerpt.
- Footnotes of note: F1 describes RSU annual grant/vesting; F2 confirms 10b5-1 plan and tax-sale purpose; F3 explains weighted-average sale price and range; F4/F5 describe option nature and formula for option count.
Context
The sale appears to be a routine, tax-related disposition tied to vesting of director RSUs rather than a discretionary, opportunistic sale. The grants are standard annual non-employee director compensation: RSUs convert to shares on vesting, and the derivative awards are stock options that vest on the same schedule. For investors, routine tax-withholding sales under pre-established 10b5-1 plans are common and do not necessarily signal a change in insider sentiment.
Insider Transaction Report
- Award
Common Stock
[F1]2026-04-30+25,344→ 111,775 total - Sale
Common Stock
[F2][F3]2026-04-30$8.28/sh−15,481$128,183→ 96,294 total - Award
Stock Options (Right to Buy)
[F4][F5]2026-04-30+11,296→ 11,296 totalExercise: $7.99Exp: 2033-04-30→ Common Stock (11,296 underlying)
Footnotes (5)
- [F1]Represents an annual grant of restricted stock units ("RSUs") granted under the Company's Stock Incentive Plan, as amended and restated, for Board and Committee service. Each RSU represents a right to receive one share of Emergent BioSolutions Inc. (the "Company") common stock upon vesting. The shares underlying the RSUs will vest on the day prior to the one-year anniversary of the grant date ("Annual Grant Vesting Date"), subject to the Reporting Person remaining a member of the Company's board of directors through the Annual Grant Vesting Date.
- [F2]Represents the number of shares sold by the Reporting Person. Shares were sold pursuant to a Rule 10b5-1 trading plan, dated November 10, 2025, for the purpose of satisfying tax obligations relating to the vesting of RSUs on April 29, 2026.
- [F3]The price reported in Column 4 is a weighted average price for sales executed on the same day within a one-dollar price range. These shares were sold in multiple transactions at prices ranging from $8.23 to $8.36, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
- [F4]Consists of stock options granted under the Company's Stock Incentive Plan, as amended and restated, for Board and Committee service. The shares underlying the options will vest on the Annual Grant Vesting Date, subject to the reporting person remaining a member of the Company's board of directors through the Annual Grant Vesting Date. Each stock option represents a right to purchase one share of the Company's common stock upon vesting at the exercise price.
- [F5]The number of options granted was determined by multiplying 25% of the total non-employee director compensation value, and then dividing by the Black-Scholes value of a single option calculated as of the date of the grant.