Pande Atul 4

What Happened
Atul Pande, a director of Immunovant, exercised 1,500 vested stock options on 2026-06-15 at an exercise price of $8.43 per share (cost $12,645) and sold the 1,500 resulting shares the same day in an open-market transaction at $34.02 per share, generating proceeds of $51,030. The transaction structure (exercise then same-day sale) is effectively a cashless exercise; net proceeds before fees and taxes were roughly $38,385.

Key Details

• Transaction date: 2026-06-15; Form 4 filed 2026-06-16 (appears timely).
• Exercise: 1,500 shares @ $8.43 = $12,645 (code M — option exercise).
• Sale: 1,500 shares @ $34.02 = $51,030 (code S — open market sale).
• Additional line: 1,500 derivative units reported disposed @ $0.00 — reflects cancellation/settlement of the exercised option.
• Footnotes: F1 — sale occurred pursuant to a Rule 10b5-1 plan adopted Dec 26, 2025; F2 — the options were fully vested; F3 — prior Form 4 (May 20, 2026) had an inadvertent reporting error clarified here.
• Shares owned after transaction: not specified in the provided filing summary — check the full Form 4 for post-transaction holdings.

Context
This was an exercise of vested options followed immediately by an open-market sale (a common way for insiders to cover exercise costs and taxes). The sale was executed under a Rule 10b5-1 plan, meaning the sell order was pre-arranged; that is a factual disclosure, not an explanation of motivation.