Quan Joanne 4

What Happened

• Joanne Quan, Chief Medical Officer of Mirum Pharmaceuticals (MIRM), had 12,500 restricted stock units (RSUs) convert into common shares on Jan 16, 2026. Following the conversion, she sold 6,911 shares in an open-market transaction on Jan 20, 2026 for $90.27 each, generating proceeds of $623,853. The sale is reported as covering tax withholding obligations related to the RSU vesting (a routine, non-speculative transaction).

Key Details

• Transaction dates and prices:
  • Jan 16, 2026: Conversion/exercise of derivative (12,500 shares acquired via RSU conversion; no cash price reported).
  • Jan 20, 2026: Open-market sale of 6,911 shares at $90.27 each — proceeds $623,853.
• Shares owned after transaction: Not specified in the filing. (F2 notes the reporting person also holds 67 shares acquired under the ESPP on Nov 10, 2025.)
• Notable footnotes:
  • F1: Each restricted stock unit represents a contingent right to one share.
  • F3: The shares sold were to cover tax withholding associated with RSU vesting.
  • F4: RSUs vest in thirds on each anniversary of Jan 16, 2024, with full vesting after three years.
• Filing timeliness: Form 4 was filed Jan 21, 2026 for transactions dated Jan 16, 2026 — this appears to be later than the SEC’s usual two-business-day filing window.

Context

• This was primarily an award/vest event (conversion of RSUs) with a subsequent routine sell-to-cover for taxes. For retail investors, such sell-to-cover transactions are typically administrative and do not necessarily indicate the insider’s broader view of the company. The RSU conversion is different from exercising stock options for cash; here restricted units converted to shares and some of those shares were sold to meet tax obligations.