Hearne Michael S 4

What Happened
Michael S. Hearne, Chief Financial Officer of Aurinia Pharmaceuticals (AUPH), received equity awards on 2026-05-18 totaling 186,374 shares: 116,144 performance stock units (derivative award) and 70,230 restricted stock units (award). Both grants were recorded at $0.00 per share (compensation awards rather than open-market purchases), so there was no cash exchange in the transaction.

Key Details

• Transaction date: 2026-05-18; Form 4 filed 2026-05-20 (timely reporting within the usual two-business-day window).
• Award amounts and price: 116,144 PSUs @ $0.00; 70,230 RSUs @ $0.00. Total awarded: 186,374 units.
• Shares owned after transaction: not disclosed in the filing.
• Footnotes / vesting highlights:
  • F1 (PSUs): Each PSU converts to one common share if performance targets are met. 46,820 PSUs vest in four tranches tied to progressively higher share-price targets (each tranche has a one-year retention requirement). 69,324 PSUs vest in two tranches at the 3- and 5-year anniversaries if specified share-price targets are met before those dates.
  • F2 (RSUs): 33% vest at the 1-year anniversary; the remaining 67% vest equally in monthly installments over the following 2 years.
• No 10b5-1, tax-withholding, or sale/exercise instructions were indicated in the filing.

Context
These awards are compensation grants and include performance-based (PSU) and time-based (RSU) components that vest only if conditions are met; PSUs are contingent rights to shares rather than immediate share ownership. Such grants are common for executive compensation and do not represent an insider buying or selling in the open market.