EXAGEN (XGN) CFO Jeffrey Black Sells Shares to Cover Taxes

What Happened

• Jeffrey G. Black, Chief Financial Officer of EXAGEN, reported two transactions dated 2026-09-01. He sold 20,614 shares at $7.22 each for total proceeds of $148,782. He also acquired 1,571 shares at $3.02 each through the company’s Employee Stock Purchase Plan (ESPP) for $4,740.
• The sale was a compelled transaction to satisfy tax withholding related to the vesting/settlement of restricted stock units (RSUs) and was mandated by the issuer; the ESPP purchase was a voluntary acquisition.

Key Details

• Transaction dates and amounts:
  • Sale (S): 20,614 shares × $7.22 = $148,782 (2026-09-01) — footnote F1: sale mandated by issuer to cover tax withholding for RSU vesting (not discretionary).
  • Acquisition (A): 1,571 shares × $3.02 = $4,740 (2026-09-01) — footnotes F2/F3: voluntary ESPP purchase; transactions were exempt under Rule 16b-3(d) and 16b-3(c).
• Filing: Report filed 2026-09-02 for transactions on 2026-09-01 — appears timely (next-business-day filing).
• Shares owned after the transactions: not specified in the provided summary of the filing.

Context

• Sales made solely to cover tax withholding on vested RSUs are routine and are not discretionary sells expressing a view on the company; the filing explicitly states the sale was issuer-directed.
• ESPP purchases indicate the executive participated in the company plan; purchases are often viewed as a modest affirmative signal but are routine employee benefit transactions.