Novara Mark David 4

What Happened
Mark David Novara, EVP & Chief Commercial Officer of Tandem Diabetes Care (TNDM), had 7,414 RSUs convert to common shares on 2026-03-16 (reported as a derivative conversion, code M). Of those, the company withheld 5,540 shares to satisfy tax withholding requirements (code F) valued at $119,609, and Novara sold 187 shares in the open market on 2026-03-17 under a Rule 10b5-1 plan (code S) for $23.05 each, generating $4,310. The conversion price was $0.00 (no cash paid); net shares retained from this conversion = 1,687.

Key Details

• Transaction dates and prices:
  • 2026-03-16: conversion of 7,414 RSUs to shares at $0.00 (code M).
  • 2026-03-16: 5,540 shares withheld by the company for tax obligations at $21.59/share (code F) — $119,609 value.
  • 2026-03-17: sale of 187 shares in the open market at $23.05/share — $4,310 proceeds (code S).
• Shares owned after this vesting event: net increase of 1,687 shares retained from the conversion (this is not the insider’s total holdings).
• Footnotes: RSUs were awarded 12/15/2023 under the 2023 Long‑Term Incentive Plan; vesting schedule includes an initial 33% vest on 12/15/2024 with the remainder in quarterly installments. The open‑market sale was made pursuant to a Rule 10b5‑1 trading plan. Company share withholding satisfied the tax obligation (no open sale to cover taxes).
• Filing timeliness: Form 4 filed 2026-03-18 for transactions on 2026-03-16 — appears to be filed timely.

Context
This was a routine RSU vesting/conversion (derivative conversion) with company share withholding to cover taxes and a small preplanned sale under a 10b5‑1 program. Code explanation: M = exercise/conversion of a derivative (here RSUs converting to shares), F = tax withholding, S = sale. Such conversions and withholding are common for RSU vesting and are not the same as an executive making a discretionary purchase or large sale intended to express a view on the stock.