Luu Brendan 4

What Happened
Brendan Luu, Chief Business Officer of Enanta Pharmaceuticals (ENTA), received equity awards that settled into 6,562 shares of Enanta common stock on February 12, 2026 (1,575 shares from PSUs and 4,987 shares from an rTSRU). To cover tax withholding obligations, 3,257 of those shares were automatically forfeited at a withholding price of $14.25 per share, equal to $46,412. The awards were issued at $0 intrinsic purchase price (typical for performance-vested awards).

Key Details

• Transaction dates: Awards settled and withholding occurred on 2026-02-12; Form 4 filed 2026-02-13 (appears timely).
• Awards: 1,575 shares (PSUs) + 4,987 shares (rTSRU) granted/issued (code A, $0.00 per share).
• Withholding/tax payment: 3,257 shares forfeited/disposed (code F) at $14.25 = $46,412.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes:
  • F1: PSUs vested based on two-year R&D milestones for 2024–2025.
  • F2: rTSRU vested based on relative total stockholder return vs. Nasdaq Biotech Index over two-year periods.
  • F3: The 3,257 shares were automatically forfeited to cover withholding taxes.
• Transaction codes: A = Award/Grant; F = Tax withholding/treatment.

Context

• These were performance-based equity awards that vested and were settled in stock—this is not an open-market purchase or a voluntary sale. The forfeiture is a routine tax-withholding mechanism (often called share-withholding or cashless settlement), not a signal of a separate sale decision.
• For retail investors: awards reflect compensation realization by an executive; withholding to cover taxes is standard practice and does not by itself indicate bullish or bearish insider sentiment.