Ragosa Mark 4

What Happened

• Mark Ragosa, Chief Financial Officer of Kiniksa Pharmaceuticals (KNSA), exercised stock options to acquire 10,845 shares (8,374 @ $12.97; 2,471 @ $16.90) for a total exercise cost of $150,371, and the same day sold 17,845 shares in open-market transactions for total gross proceeds of $772,254. The Form 4 shows zero-dollar derivative conversion lines for the exercised options (conversion of options into shares).

Key Details

• Transaction date: February 9, 2026; Form 4 filed February 11, 2026 (filed within the typical 2-business-day window).
• Option exercises: 8,374 shares @ $12.97 = $108,611; 2,471 shares @ $16.90 = $41,760. The options are fully vested and exercisable (F4).
• Sales (open market): 9,114 shares sold at weighted avg $42.85 (range $42.35–$43.345) for $390,535 (F2); 8,731 shares sold at weighted avg $43.72 (range $43.35–$44.18) for $381,719 (F3). Total sold: 17,845 shares for $772,254.
• Net proceeds before fees/taxes (gross sales minus exercise cost): ~ $621,883 (approximate; does not account for commissions or tax withholding).
• Sales executed pursuant to a prearranged 10b5-1 trading plan adopted August 14, 2025 (F1).
• Shares owned after the transactions: not disclosed on the filing.

Context

• The filing shows an exercise of vested options followed by immediate open-market sales — effectively a cashless exercise and sale of shares derived from both the exercised options and existing holdings. The $0.00 derivative disposal lines reflect the conversion of options into shares, not cash proceeds.
• Sales under a 10b5-1 plan are prearranged and can be routine; they do not by themselves indicate the insider’s current view of the company. The filing is factual and timely; it reports the mechanics and prices of the transactions.