Shannon John Patrick Jr 4

What Happened

• Shannon John Patrick Jr., Chief Executive Officer and Director of Xeris Biopharma (XERS), was granted equity on Jan 30, 2026: 478,436 restricted stock units (RSUs) and 639,639 derivative awards (stock options). The grants were recorded at $0 unit price (typical for RSU/option grants).
• On Jan 31, 2026, 340,505 shares were surrendered/withheld to satisfy tax and withholding obligations tied to net settlement of vested RSUs. The withheld shares were reported at $7.36 per share, totaling $2,506,117. These withholdings are routine tax-related dispositions, not open-market sales.

Key Details

• Transaction dates: Grants recorded 2026-01-30; tax-withholding transfers 2026-01-31. Filing date: 2026-02-02 (Form 4, period of report 2026-01-30).
• Grant details: 478,436 RSUs (F1) — vest in equal annual installments over 3 years; 639,639 stock options (derivative, F3) — vest in equal annual installments over 3 years.
• Withholding details: 118,134 + 111,621 + 110,750 = 340,505 shares surrendered at $7.36/share to satisfy income tax/withholding (F2); total value ≈ $2,506,117.
• Shares owned after the transactions: not specified in the filing.
• Filing timeliness: Form lists transactions for late Jan 2026 and was filed Feb 2, 2026; the filing does not indicate a late-report designation.

Context

• The RSU awards and option grants are subject to multi-year vesting and do not represent immediate open-market purchases or sales. The withheld shares reflect net settlement/tax withholding on vested RSUs rather than a decision to sell shares on the market.
• For retail investors: grants signal long-term compensation alignment but are routine; the withheld shares are administrative and do not necessarily indicate a change in the insider’s market view.