Novara Mark David 4

What Happened

• Mark David Novara, EVP & Chief Commercial Officer of Tandem Diabetes Care (TNDM), had restricted stock units (RSUs) convert to common shares on 2026-05-15. The filing shows conversion/acquisition of 10,572 shares (two entries of 76 and 10,496) at $0.00 (transaction code M), and the company withheld 7,911 shares to satisfy tax withholding (transaction code F) at $12.82 per share (withheld value ≈ $101,419). Net new shares added to his holdings from this vesting event = 2,661 shares. No open-market sale occurred; the shares were withheld by the company to cover taxes.

Key Details

• Transaction date: 2026-05-15; Form 4 filed: 2026-05-19 (timely — filed within required two business days).
• Converted/acquired: 10,572 shares (76 + 10,496) at $0.00 (RSU settlement; code M).
• Withheld for taxes (disposed on Form 4 for withholding purposes): 7,911 shares (57 + 7,854) at $12.82 → $731 and $100,688, total ≈ $101,419 (code F). No shares sold on the open market.
• Net shares retained after withholding from this vesting: 2,661 shares.
• Footnotes: Shares were RSUs (F2–F6). Some awards originated May 23, 2024 and May 30, 2025; vesting schedule is 33% on 5/15 of the applicable year with remaining shares vesting in eight equal quarterly installments (see F4/F6).
• Filing does not indicate a 10b5-1 plan or that shares were sold; this was a tax-withholding settlement, not a market sale.

Context

• This was a routine RSU vesting and company withholding to meet tax obligations (cashless tax withholding), not an open-market sale or purchase. For retail investors, such withholdings are common and do not necessarily indicate an insider view on the company’s outlook. Transaction codes: M = exercise/conversion of derivative (here, RSU settlement); F = payment of exercise price or tax liability (here, share-withholding for taxes).