BORGESON JOHN A. 4
4 · Kodiak Sciences Inc. · Filed Jun 5, 2026
Research Summary
AI-generated summary of this filing
Kodiak (KOD) CFO John Borgeson Exercises Options, Sells Shares
What Happened John A. Borgeson, Chief Financial Officer of Kodiak Sciences (KOD), exercised 30,000 stock options (cost $1.04/share, $31,200 total) and simultaneously sold the 30,000 shares on 2026-06-04. The open-market sales generated aggregate proceeds of approximately $1,023,009 (25,896 shares at a weighted avg $34.01 ≈ $880,723; 4,104 shares at a weighted avg $34.67 ≈ $142,286). The filing shows the derivative (option) position was terminated in connection with the exercise.
Key Details
- Transaction date: 2026-06-04; Form 4 filed 2026-06-05 (timely).
- Exercise: 30,000 shares acquired at $1.04/share for $31,200.
- Sales: 25,896 shares sold at weighted avg $34.01 (range $33.49–$34.48 per footnote); 4,104 shares sold at weighted avg $34.67 (range $34.49–$35.05 per footnote). Total proceeds ≈ $1,023,009.
- Reporting codes: M used for option exercise; separate M line shows derivative disposition at $0 reflecting cancellation of the option upon exercise.
- Footnotes: Sales were made pursuant to a 10b5-1 trading plan adopted Sept 29, 2025 (F1). Option shares were fully vested (F4). Weighted-average prices and price ranges provided (F2, F3).
- Shares owned after the transactions are not reported in the information you provided.
Context This was an exercise of vested options followed by immediate open‑market sales (effectively a cashless exercise / sell-to-cover pattern). The trades were executed under a pre-established 10b5-1 plan, which means the sales were pre-planned and are generally considered routine disposition of exercised option shares rather than a spontaneous market signal.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-06-04$1.04/sh+30,000$31,200→ 241,930 total - Sale
Common Stock
[F1][F2]2026-06-04$34.01/sh−25,896$880,723→ 216,034 total - Sale
Common Stock
[F1][F3]2026-06-04$34.67/sh−4,104$142,286→ 211,930 total - Exercise/Conversion
Stock Option (Right to Buy)
[F4]2026-06-04−30,000→ 0 totalExercise: $1.04Exp: 2026-06-22→ Common Stock (30,000 underlying)
Footnotes (4)
- [F1]The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 29, 2025.
- [F2]The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $33.49 to $34.48, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in these footnotes.
- [F3]The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $34.49 to $35.05, inclusive.
- [F4]The shares subject to this option are fully vested.