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

What Happened

• Budur Kumar, Chief Medical Officer of Harmony Biosciences (HRMY), exercised a total of 38,452 option-derived shares (multiple exercises at $30.27 and $30.69 strikes) and simultaneously sold the same 38,452 shares in open market transactions. Exercise cash paid totaled $1,168,858; aggregate sales proceeds from those and related sales reported were $1,655,416 (principal large sale: 35,852 shares for $1,543,590).
• This combination of option exercises followed by immediate sales results in no net increase in shares beneficially owned from these transactions (exercised 38,452; sold 38,452).

Key Details

• Transaction dates: September 16–18, 2026; Form 4 filed Sept 18, 2026 (timely).
• Exercise details: 38,452 shares exercised at strike prices of $30.69 and $30.27 (total exercise cash $1,168,858).
• Sales details: 38,452 shares sold in multiple transactions at weighted average prices in the $43.00–$43.20 range; total proceeds reported $1,655,416 (largest block: 35,852 shares for $1,543,590).
• Footnotes: Sales were effected pursuant to a Rule 10b5‑1 trading plan (F1). Reported sale prices are weighted averages with price ranges disclosed (F2, F3). Vesting schedules for the underlying options are noted in the filing (F4, F5).
• Net effect: 0 net shares added from these transactions (exercised then sold). The filing excerpt does not state total beneficial ownership after these trades beyond this net change.

Context

• These transactions are option exercises (transaction code M) followed by open-market sales (code S). The Form 4 also shows $0.00 “disposal” entries for the derivative instruments — this reflects the cancellation/conversion of the option derivative upon exercise, not a separate transfer of value.
• Exercises immediately followed by sales are common ways for insiders to monetize vested option value or cover tax/option costs; such activity is routine and should not be interpreted as a predictive signal on its own.