Budur Kumar 4

What Happened

• Budur Kumar, Chief Medical Officer of Harmony Biosciences (HRMY), was granted awards on Jan 22, 2026 (totaling 54,800 derivative shares: 12,200 and 42,600), and exercised/converted derivatives on Jan 24–25, 2026 (2,188 shares on Jan 24 and 2,662 shares on Jan 25).
• To satisfy required tax withholdings on vesting, the issuer withheld 1,153 shares on Jan 24 (valued at $36.82/share; $42,453) and 1,372 shares on Jan 25 (valued at $36.82/share; $50,517), for a total of 2,525 shares withheld and approximately $92,970 in tax withholding value.
• These transactions are award grants and derivative exercises rather than open‑market sales — withholding of shares for taxes (code F) is routine and does not necessarily indicate a market sale.

Key Details

• Transaction dates and prices:
  • Grants (A): Jan 22, 2026 — 12,200 and 42,600 derivative shares (no cash price reported).
  • Exercises/Conversions (M): Jan 24, 2026 — 2,188 shares; Jan 25, 2026 — 2,662 shares (no cash reported for exercise conversions).
  • Tax withholding (F): Jan 24 — 1,153 shares withheld @ $36.82 = $42,453; Jan 25 — 1,372 shares withheld @ $36.82 = $50,517.
• Net shares related to these exercises: 4,850 shares were exercised/converted and 2,525 shares were withheld for taxes (leaving 2,325 shares net delivered to the insider from these conversions, based on the reported entries).
• Shares owned after the transactions: not specified in the filing.
• Footnotes of note:
  • F1: Withheld shares were used to satisfy required income tax withholdings upon RSU vesting.
  • F2–F5: Describe vesting schedules — some awards/options vest over multi‑year schedules (25% after one year or annual/quarterly vesting over four years) and reference prior grant dates (Jan 24, 2024; Jan 25, 2025).
• Filing timeliness: Report period begins Jan 22, 2026 and the Form 4 was filed Jan 26, 2026 — the filing appears timely (not marked late).

Context

• These entries reflect awards (likely restricted stock units and/or option grants) and the exercise/conversion of derivatives, with the company withholding a portion of shares to satisfy tax obligations (a common, non‑market cashless method).
• Because the transactions involve vested awards and withholding for taxes rather than open‑market sales, they generally represent administrative settlement of compensation rather than a directional bet by the insider.