Karrels James 4

What Happened

• James Karrels, SVP and Chief Financial Officer of MacroGenics (MGNX), received two restricted stock unit (RSU) awards on 2026-02-12 totaling 175,000 RSUs (150,000 + 25,000).
• On 2026-02-15 the filing shows exercise/conversion activity involving 14,999 derivative shares and a related tax-withholding disposition of 5,790 shares at $1.71 per share, resulting in $9,901 surrendered to cover taxes. Several derivative entries are reported as $0 value (typical for RSU conversion entries).

Key Details

• Transaction dates: RSU grants on 2026-02-12; exercise/conversion and tax withholding on 2026-02-15. Filing date: 2026-02-17.
• Tax withholding: 5,790 shares disposed at $1.71 = $9,901 (reported as code F — payment of exercise price or tax liability).
• Grants: 150,000 and 25,000 RSUs reported as acquired at $0 (derivative awards).
• Footnotes: prior 2/15/2023 RSU grant referenced (45,000 RSUs vesting in three annual installments); RSU vesting schedules described (e.g., 33%/year or periodic vesting schedules per footnotes). One footnote notes joint ownership with spouse.
• Shares owned after the transactions are not specified in the provided excerpt.
• Filing appears timely (Form 4 filed 2026-02-17 reporting transactions through 2/12–2/15).

Context

• These filings reflect RSU awards and conversions/exercises of derivatives. The 5,790-share disposition was a tax-withholding/surrender (routine) rather than an open-market sale — commonly used to satisfy tax liabilities when RSUs vest or options are exercised.
• RSUs represent contingent rights to receive common stock and vest per the schedules in the footnotes; exercise/conversion entries for derivatives often reflect shares issued on conversion rather than a market sale.
• The small cash amount ($9,901) relates solely to tax withholding; there is no large open-market sale reported here.