BORGESON JOHN A. 4

What Happened
John A. Borgeson, Chief Financial Officer of Kodiak Sciences (KOD), exercised stock options on April 15, 2026 to acquire 28,614 shares at an exercise price of $1.04 per share, for a cash outlay of $29,759. The filing also reports the conversion/disposition of the related derivative instrument for 28,614 shares at $0.00 — i.e., the option/derivative was converted into the underlying common shares. The shares subject to the option were fully vested (footnote F1).

Key Details

• Transaction date: 2026-04-15; Form 4 filed: 2026-04-16 (filed one day after the transaction).
• Exercise: 28,614 shares acquired at $1.04 per share — total $29,759.
• Conversion/disposition: 28,614 derivative units reported disposed at $0.00 (reflects conversion of the derivative into common stock).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnote: F1 — the optioned shares were fully vested.
• Timeliness: Filing date indicates the Form 4 was submitted the day after the transaction (within standard 2‑business‑day reporting window).

Context
This was an option exercise (transaction code M). No sale of the newly acquired shares was reported in this filing, so this was not a cashless sell-off; the insider purchased the shares by paying the exercise price. Option exercises convert derivatives into underlying stock; the $0.00 disposition line simply reflects that the derivative ceased to exist after conversion.