Quan Joanne 4

What Happened

• Joanne Quan, Chief Medical Officer of Mirum Pharmaceuticals (MIRM), had restricted stock units convert to common shares and then sold a portion to cover tax withholding. The filing reports conversion/issuance of 3,334 shares on Jan 21, 2026 and an open-market sale of 1,822 shares on Jan 22, 2026 at $93.33 per share, generating $170,039. The Form 4 also shows a related derivative disposition tied to the conversion/settlement of the RSUs.

Key Details

• Transaction dates and prices:
  • Jan 21, 2026: Conversion/exercise of 3,334 restricted stock units into 3,334 shares (derivative conversion).
  • Jan 22, 2026: Open-market sale of 1,822 shares at $93.33 each — proceeds $170,039.
• Shares owned after the transaction: not specified in the filing.
• Notable footnotes from the filing:
  • F1: Each restricted stock unit (RSU) represents a contingent right to receive one share (or cash equivalent).
  • F2: Shares were sold to cover tax withholding obligations associated with the vesting of RSUs.
  • F3: Vesting schedule: 1/3 of the RSUs vest on each anniversary of Jan 21, 2025, so the full award vests over three years.
• Filing timeliness: Form 4 was filed Jan 23, 2026 for transactions on Jan 21–22, 2026 — appears to be timely (within the standard two business days).

Context

• This was not a cash purchase (which can be a stronger bullish signal); it was an RSU conversion with a partial sale to satisfy tax withholding — a common, routine insider action. The conversion of RSUs into shares and subsequent sale to cover taxes is typically administrative and does not necessarily indicate a change in the insider’s view of the company.