McCulloch Kevin 4

What Happened
Kevin McCulloch, President and Chief Operating Officer of Xeris Biopharma (XERS), exercised stock options on March 12, 2026 and immediately disposed of the resulting shares. He exercised 48,894 options at $4.09 (proceeds/cost $199,976) and 4 options at $3.94 ($16), for a combined 48,898 shares and $199,992. The filing shows both the acquisition by exercise (transaction code M) and a simultaneous disposition of the same shares, a common cashless or sell-to-cover pattern.

Key Details

• Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (appears timely).
• Exercise details: 48,894 shares @ $4.09 = $199,976; 4 shares @ $3.94 = $16; total 48,898 shares and $199,992.
• Disposition: Same numbers reported as disposed the same day (indicates immediate sale or cashless exercise).
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes:
  • F1: Reporting person disclaims beneficial ownership except to extent of pecuniary interest.
  • F2/F3: Options were granted under the company’s 2018 Plan (Dec 10, 2020 and Aug 26, 2020 grants) with standard multi-year vesting schedules described in the filing.
• Filing timeliness: No late filing flag shown; Form 4 dated Mar 16 for a Mar 12 transaction appears within the normal filing window.

Context

• Code M indicates exercise of a derivative (stock option). The matching disposition entries mean shares were sold immediately (cashless exercise or sell-to-cover), which is typically a routine liquidity event rather than an outright purchase signaling bullish conviction.
• The filing’s footnotes describe the original option grants and vesting schedules; they do not explain the motive for the sale.
• F1’s disclaimer means the reporting person limits the scope of claimed beneficial ownership in this report.