Black Jeffrey G. 4

What Happened
Jeffrey G. Black, Chief Financial Officer of Exagen Inc. (XGN), reported three acquisitions on his Form 4: a 75,000-share restricted stock unit (RSU) award (reported value $237,000), a 50,000-share derivative award (reported value $158,000), and a 1,511-share purchase through the company Employee Stock Purchase Plan (ESPP) (reported value $4,649). Combined reported value of the transactions is approximately $399,649. These were awards/acquisitions rather than sales.

Key Details

• Transaction dates and reported prices:
  • 2026-03-12: 75,000 shares awarded @ $3.16 each — $237,000 (RSUs).
  • 2026-03-12: 50,000 shares awarded (derivative) @ $3.16 each — $158,000.
  • 2026-02-27: 1,511 shares acquired via ESPP @ $3.08 each — $4,649.
• Shares owned after the transactions: Not specified in the information provided.
• Footnotes of note:
  • F1: The RSU award vests 25% on each of the first four anniversaries of Feb 21, 2026; may vest in full on qualifying change-in-control termination.
  • F2/F3: The ESPP purchase was voluntarily reported and was exempt under Rule 16b-3(c)/(d).
  • F4: The filing also includes standard option vesting language (25% at first anniversary then monthly vesting) that applies to certain derivative awards.
• Timeliness: Form 4 filed 2026-03-16 for trades on 2026-03-12; filing appears timely (filed within required SEC business-day window).

Context

• RSUs and derivative awards are contingent rights that convert to shares as they vest; they are not immediate open-market purchases. The ESPP purchase is an actual share acquisition under the employee plan.
• These are acquisitions/awards (not sales). Purchases and awards can be of interest to retail investors as possible signals of insider confidence, but they do not alone prove future performance.