Lalwani Nikhil 4

What Happened
Nikhil Lalwani, President & CEO and a director of ANI Pharmaceuticals (ANIP), had 30,659 shares disposed of on February 11, 2026 through tax withholding related to the vesting of performance stock units (PSUs). The withholding was recorded at $76.25 per share, producing a disposition value of $2,337,749. This transaction is a tax-withholding disposition (transaction code F), not an open-market sale.

Key Details

• Transaction date: 2026-02-11; Price: $76.25 per share; Shares withheld/disposed: 30,659; Total value: $2,337,749.
• Transaction code: F (shares withheld to satisfy tax withholding obligations).
• Footnote: Shares were withheld in connection with the vesting of 63,686 PSUs; the original grant was reported April 6, 2023. The withholding is exempt under Rule 16b-3.
• Filing: Form 4 filed on 2026-02-13 (two days after the reported transaction). The filing appears within the typical two-business-day window for Form 4 submissions.
• Shares owned after the transaction: not specified in the filing.

Context
This was a routine tax-withholding disposition tied to PSU vesting rather than a discretionary open-market sale. When PSUs vest, companies commonly withhold (or sell) a portion of shares to cover tax liabilities; such withholding is treated as a disposition for reporting but does not necessarily indicate a change in the insider’s view of the company. The exemption under Rule 16b-3 means the withholding is standard practice for governance and compensation compliance.