Lew Jennifer 4

What Happened
Jennifer Lew, Chief Financial Officer of Annexon, sold 7,851 shares in an open-market transaction on February 18, 2026. The weighted average sale price was $5.11 per share (range $4.925–$5.17), producing gross proceeds of approximately $40,119. This was a sale to cover tax withholding obligations tied to the vesting of restricted stock units (RSUs), a routine post-vesting disposition.

Key Details

• Transaction date: 2026-02-18 (reported on Form 4 filed 2026-02-20) — appears timely (within the typical 2-business-day window).
• Shares sold/disposed: 7,851; weighted average price: $5.11; price range: $4.925–$5.17.
• Total proceeds: ~$40,119.
• Reason: Sale to cover tax withholding on RSU vesting (footnote F1).
• Multiple trades: Executed in multiple trades; reporting person will provide per-trade quantities/prices on request (footnote F2).
• Shares owned after transaction: Not specified in the provided summary of the filing.

Context
This was a routine tax-withholding sale following RSU vesting, which is common and not a clear market sentiment signal. Purchases generally carry more informational weight for bullish insider views; routine sales to cover taxes are standard administrative transactions.