Aslam Shakil 4

What Happened

• Aslam Shakil, Chief Medical Officer of Talphera, bought 35,000 shares in an open-market purchase on Feb 12, 2026 at $0.81 per share (total ≈ $28,431). On the same date he was also reported to have received a 205,000-share derivative award (reported at $0.00), i.e., an equity grant rather than an immediate cash transaction. The open‑market purchase is a straightforward buy; the 205,000-share item is a compensation-related award that vests over time.

Key Details

• Transaction date: Feb 12, 2026 (Form 4 filed Feb 20, 2026).
• Open-market purchase: 35,000 shares @ $0.81 = $28,431.
• Award/grant: 205,000 shares reported as a $0.00 derivative acquisition (no immediate cash paid).
• Vesting notes from the filing:
  • F1: Restricted stock units (RSUs) — vest in three equal annual installments on Feb 12 of 2027, 2028 and 2029.
  • F2: Option language — one-fourth vests on the one-year anniversary, remainder vests in 36 equal monthly installments thereafter while in service.
  • The filing includes both footnotes describing vesting; consult the Form 4 for the exact instrument type and terms.
• Shares owned after the transaction: not specified in the provided excerpt — see the full Form 4 for post-transaction holdings.
• Timeliness: Form 4 was filed on Feb 20, 2026 for a Feb 12 transaction (appears late relative to the typical two-business-day filing requirement).

Context

• The 35,000-share purchase is a small (≈ $28k) open-market buy — purchases can be interpreted as a modest positive signal but are routine and not conclusive on their own.
• The 205,000-share item is a compensation award (RSU or option per footnotes) with multi-year vesting; such grants are common for executives and vesting ties pay to continued service/performance rather than immediate economic gain.
• No exercise-and-sale (cashless exercise) or gift reported here — the derivative award is not described as immediately sold or converted into cash.