Pulmonx CEO Glendon French Sells 41,882 Shares

What Happened Glendon E. French III, President, CEO and a director of Pulmonx Corp (LUNG), sold a total of 41,882 shares in two open-market transactions on September 1, 2026. He sold 4,098 shares at $2.26 each ($9,261) and 37,784 shares at $2.26 each ($85,392), for combined gross proceeds of $94,653. According to the filing, these sales were made to cover tax withholding obligations related to vested Restricted Stock Units (RSUs).

Key Details

• Transaction date: September 1, 2026 (period of report). Form 4 filed September 3, 2026 (timely filing).
• Sales: 4,098 shares @ $2.26 = $9,261; 37,784 shares @ $2.26 = $85,392; total 41,882 shares for $94,653.
• Reason: Sales to satisfy tax withholding on RSU vesting (footnotes reference RSUs granted 3/1/2023 and 12/1/2025).
• Other items noted in the filing: 1,656 shares were acquired under the issuer’s 2020 Employee Stock Purchase Plan on Aug 14, 2026 (F2). Some shares are held by the Glendon E French & Gayle French Trustees French Family Rev Trust (F4).
• Shares owned after the transaction: not specified in the provided filing excerpt — see the full Form 4 for total beneficial ownership.

Context

• These were sale transactions to cover tax obligations tied to RSU vesting (a common, routine action) rather than discretionary open-market selling intended to realize gains. Such tax-withholding sales are generally considered administrative and do not necessarily indicate a change in the insider’s view of the company.
• The filing also notes a small ESPP purchase earlier (Aug 14, 2026), which is a routine employee purchase and is a purchase signal, albeit minor in size.