Ragosa Mark 4

What Happened

• Mark Ragosa, Chief Financial Officer of Kiniksa Pharmaceuticals (KNSA), exercised a total of 36,722 stock options on March 9, 2026 and concurrently sold the same 36,722 shares in open-market transactions. The exercises had strike prices of $22.89 (2,036 shares), $17.76 (10,513), $18.06 (13,813) and $26.74 (10,360), for a total exercise cost of $759,804. The shares were sold in two groups (17,981 and 18,741 shares) for total gross proceeds of $1,686,158 (weighted-average sale prices reported as $45.58 and $46.24). The filing shows matching zero-dollar dispositions of the derivative instruments (the options) upon exercise.

Key Details

• Transaction date: March 9, 2026.
• Options exercised: 36,722 shares (breakdown by strike: 2,036 @ $22.89; 10,513 @ $17.76; 13,813 @ $18.06; 10,360 @ $26.74). Total paid ≈ $759,804.
• Shares sold: 36,722 shares in open market (17,981 @ weighted avg $45.58; 18,741 @ weighted avg $46.24). Total proceeds ≈ $1,686,158.
• Net cash inflow from these transactions ≈ $926,354 (proceeds minus exercise cost).
• Footnotes: Sales were effected under a 10b5-1 trading plan adopted Aug 14, 2025 (F1). Sales executed in multiple trades at prices ranging $44.885–$45.88 and $45.89–$46.79 (F2, F3). Filing notes options were either fully vested or subject to standard vesting schedules (see F4–F7).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Timeliness: Form 4 was filed March 11, 2026 for transactions on March 9, 2026 (no late filing flag in the record provided).

Context

• This was an exercise of vested options immediately followed by open-market sales (a common "cashless" outcome). The zero-dollar "dispositions" on the Form 4 reflect cancellation of the derivative (the option) upon exercise.
• The sales were conducted under a pre-established 10b5-1 plan, which typically indicates the trades were pre-authorized rather than ad hoc decisions following material company news.
• For retail investors: exercises followed by immediate sales are often done for tax or diversification reasons and are not necessarily a directional signal about company prospects.