Quart Barry D 4

What Happened
Barry D. Quart, a director of Kiniksa Pharmaceuticals International (KNSA), exercised a total of 15,960 stock options between Feb 2–4, 2026 (exercise price $15.47), paying roughly $246,901 in aggregate. He then sold the 15,960 shares in open-market transactions the same days for aggregate gross proceeds of about $721,635 (weighted-average sale prices reported). The trades show an immediate sell following exercise (effectively a cashless outcome).

Key Details

• Transaction dates: Feb 2, 2026; Feb 3, 2026; Feb 4, 2026.
• Exercises (M): 830 shares @ $15.47 (Feb 2); 12,528 @ $15.47 (Feb 3); 2,602 @ $15.47 (Feb 4). Total exercised = 15,960; total exercise cost ≈ $246,901.
• Sales (S): 830 shares (Feb 2) – weighted avg $45.00; 12,528 shares (Feb 3) – weighted avg $45.27; 2,602 shares (Feb 4) – weighted avg $45.02. Total sales proceeds ≈ $721,635.
• Net cash difference (sales proceeds minus exercise cost) ≈ $474,734 (pre-tax, pre-fees).
• Footnotes: one trade was effected pursuant to a 10b5-1 plan executed Sept 11, 2025 (F1). Sales were executed in multiple trades at price ranges: Feb 2 $45.00–45.05 (F4), Feb 3 $45.00–45.48 (F3), Feb 4 $45.00–45.02 (F2). The option(s) exercised were fully vested (F5).
• The filing shows additional derivative ("M") line items at $0 reflecting cancellation/transfer of the derivative interests upon exercise (standard reporting form entries).
• Shares owned after the transaction are not specified in the provided data. The Form 4 was filed Feb 4, 2026, reporting the Feb 2–4 transactions.

Context

• This pattern — exercising vested options and immediately selling the resulting shares — is common and often tax/cash-flow driven rather than a directional endorsement of the stock. It effectively converts option value to cash.
• The presence of a 10b5-1 plan for at least one transaction indicates some sales were pre-planned.
• These are director transactions (not a >10% owner disclosure).