Inrig Jula 4

What Happened
Chief Medical Officer Jula Inrig received 14,000 performance restricted stock units (PSUs) that vested on April 13, 2026 following the issuer's confirmation of FDA approval for FILSPARI (sparsentan) in FSGS. Following vesting, Jula sold a total of 8,233 shares in two open-market transactions (7,215 shares on 2026-04-14 at $41.93 and 1,018 shares on 2026-04-15 at $42.61), generating reported proceeds of $302,516 and $43,377 respectively (combined ≈ $345,893). The award itself is reported as $0 cash consideration since it was a restricted stock unit settlement.

Key Details

• Award: 14,000 PSUs vested on 2026-04-13 (grant originally made Jan 31, 2025). [Footnote F1]
• Sales:
  • 2026-04-14: 7,215 shares sold @ $41.93 = $302,516. (Includes mandated sell-to-cover for taxes.) [F2]
  • 2026-04-15: 1,018 shares sold @ $42.61 = $43,377. (Executed under a 10b5‑1 plan adopted 2025‑05‑28; includes tax-cover shares.) [F3]
• These sales include shares sold to cover tax withholding required upon PSU settlement (sell-to-cover), not solely discretionary trades.
• Shares owned after the reported transactions: not specified in the filing.
• Filing: Reported on Form 4 with period of report 2026‑04‑13 and filed 2026‑04‑15; no late filing indicated in the document.

Context

• This sequence (award vesting followed by sell-to-cover and additional plan sales) is common when equity awards settle: the award increases holdings but some shares are immediately sold to satisfy taxes or under pre-set sale plans. These sales do not necessarily signal the insider’s discretionary view on the company.