Tessari Eben 4

What Happened
Eben Tessari, Chief Strategy Officer of Kiniksa Pharmaceuticals (KNSA), completed multiple equity transactions reported on Apr 3, 2026. Key items:

• Acquired 365 shares through the company ESPP on Jan 15, 2026 at $24.16 per share (total $8,818; reported as exempt under Rule 16b-3(e)).
• On Apr 1, 2026 Tessari exercised/converted derivatives to acquire 5,975 shares (Form shows acquisition but no per-share price listed).
• To cover tax/exercise obligations, 1,756 shares were withheld/disposed at $48.13 per share (proceeds/withholding value shown as $84,516).
• The filing also shows multiple new awards/grants on Apr 1, 2026 totaling 58,100 units (33,200 + 8,300 + 16,600) reported as awards/derivatives at $0.00 (RSUs/PSUs/options per footnotes).
• Additional conversion/exercise entries show dispositions of 1,773; 1,745; and 2,457 shares (reported with $0.00 values) consistent with share settlement/conversion activity.

Key Details

• Transaction dates: Jan 15, 2026 (ESPP purchase); Apr 1, 2026 (exercises, awards, tax withholding). Filing date: Apr 3, 2026.
• Prices/values shown: ESPP 365 shares @ $24.16 = $8,818; tax withholding 1,756 shares @ $48.13 = $84,516. Several derivative entries list $0.00 (typical for RSU/PSU settlement or net share issuance).
• Shares owned after the transactions: not disclosed in the provided filing excerpt.
• Notable footnotes: F1 confirms ESPP purchase was exempt under Rule 16b-3(e); F2–F9 describe that awards include RSUs and PSUs (vesting schedules and performance conditions) and an option vesting schedule (vesting commencement dates and vesting cadence). F6 notes PSU payout may be up to 200% of one share depending on performance.
• Timeliness: Apr 1 transactions were filed promptly (Form filed Apr 3). The Jan 15 ESPP purchase was included voluntarily in this filing per footnote F1.

Context

• The Apr 1 entries indicate exercises/conversions of equity awards and the simultaneous withholding/surrender of some shares to satisfy tax or exercise payment obligations (code F = tax/exercise payment). This is a common administrative step and does not necessarily signal an open-market sale.
• Awards listed at $0.00 are typical for RSU/PSU grants or option awards (they represent rights to future shares subject to vesting/performance rather than open-market purchases).
• The filing is factual reporting of insider activity; it does not state motivations. Purchases (ESPP) can be interpreted as a modest insider buy, while exercises/awards mostly reflect standard compensation and vesting activity.