Sawaf Aziz 4

What Happened
Sawaf Aziz, Chief Financial Officer of Theravance Biopharma (TBPH), had 8,670 shares withheld on May 20, 2026 to satisfy tax obligations tied to the vesting of previously granted restricted stock units. The withholding was calculated at $16.55 per share, totaling approximately $143,489. This was a tax-withholding disposal (not an open-market sale), and is generally a routine administrative action following RSU vesting rather than a directional trade.

Key Details

• Transaction date: 2026-05-20
• Transaction type/code: Tax withholding to satisfy withholding obligations (code F)
• Shares withheld/disposed: 8,670 shares at $16.55 per share; total ≈ $143,489
• How transaction occurred: Shares were withheld by the issuer to cover taxes (per footnote); not an open-market sale
• Filing date: 2026-05-22 (filed within two business days of the transaction — appears timely)
• Shares owned after transaction: Not specified in the provided filing

Context
Tax-withholding share disposals are common when restricted stock units vest. Because the transaction was a withholding by the company (cashless for the insider) and not an open-market sale, it should not be interpreted as a contrary signal about the insider’s view of the company’s prospects.