Harmony Biosciences (HRMY) CMO Budur Kumar Exercises Options, Sells Shares

What Happened

• Budur Kumar, Chief Medical Officer of Harmony Biosciences (HRMY), exercised stock options on Sep 8, 2026 to acquire 22,954 shares (12,200 at $30.69 and 10,754 at $30.27) at a total cash cost of $699,942. On Sep 4 and Sep 8, 2026 he sold a total of 33,954 shares in open-market transactions for aggregate proceeds of approximately $1,453,170. The sales were reported as executed pursuant to a Rule 10b5-1 trading plan.

Key Details

• Transactions and amounts:
  • 2026-09-04: Sold 5,500 shares @ weighted avg $41.98 — proceeds $230,911 (see F2; prices ranged ~$41.51–$42.32).
  • 2026-09-08: Sold 4,500 shares @ weighted avg $42.25 — proceeds $190,114 (see F3; prices ranged ~$41.59–$42.57).
  • 2026-09-08: Sold 1,000 shares @ $42.79 — proceeds $42,795 (see F3).
  • 2026-09-08: Sold 22,954 shares @ weighted avg $43.10 — proceeds $989,350 (see F4/F5; sold in ranges ~$42.59–$43.20).
  • 2026-09-08: Exercised/conversion (M) — acquired 12,200 shares @ $30.69 = $374,418.
  • 2026-09-08: Exercised/conversion (M) — acquired 10,754 shares @ $30.27 = $325,524.
  • The filing also records the corresponding derivative dispositions at $0.00 reflecting conversion of the option instruments upon exercise.
• Sales were effected under a Rule 10b5-1 trading plan (Footnote F1).
• Footnotes F2–F5 indicate the reported sale prices are weighted averages and were executed across multiple trades at the stated price ranges; full breakdown can be provided on request.
• Vesting info for the underlying options is noted in Footnotes F6 and F7 (standard multi-year vesting schedules).
• Shares owned after the transactions are not specified in the provided filing summary.
• Filing: Form 4 filed 2026-09-09 for transactions on 2026-09-04 and 2026-09-08 — appears to be timely (within the standard 2-business-day reporting window).

Context

• The combination of exercising options and selling shares the same day (or within the same reporting period) is commonly a cash-raising or tax/covering action (often a cashless exercise or immediate sale of acquired shares); the filing shows exercises followed by open-market sales of the same total number of shares acquired on Sep 8.
• Because the sales were under a preplanned 10b5-1 arrangement, they are likely pre-scheduled routine trades rather than ad-hoc market-timing decisions.