Ahuja Ajay 4

4 · MANNKIND CORP · Filed Mar 25, 2026

AI-generated summary of this filing

Updated Mar 26, 2026

MannKind (MNKD) CMO Ajay Ahuja Receives RSU Awards

What Happened

Ajay Ahuja, Chief Medical Officer of MannKind Corp (MNKD), received two restricted stock unit (RSU) awards on March 23, 2026: 221,000 RSUs and 217,000 RSUs. Both awards are recorded at $0.00 (derivative awards) for a total of 438,000 RSUs. These are grants of contingent rights to receive shares in the future rather than open‑market purchases or sales.

Key Details

Transaction date: March 23, 2026. Form 4 filed March 25, 2026 (appears timely).
Transaction code: A (award/grant). Price reported: $0.00 (derivative).
Award breakdown: 221,000 RSUs (time‑based) and 217,000 RSUs (performance‑based).
Vesting: Time‑based RSUs vest 25% on March 23, 2027, then 1/16th quarterly thereafter (i.e., remaining 75% vests over the next 12 quarters). Performance RSUs vest on January 15, 2029, with payout determined by MannKind’s total shareholder return (TSR) vs. the Russell 3000 Pharmaceutical & Biotechnology Index over Apr 1, 2026–Dec 31, 2028.
Performance payout scale: <25th percentile = 0% of target; 25th = 50%; 50th = 100%; 75th = 200%; ≥90th = 300% of target, with interpolation between levels.
Shares beneficially owned after the transaction: not disclosed in the provided excerpt.

Context

RSUs are derivative awards that convert into actual shares only if and when they vest (and any conditions are met). The performance RSUs are contingent on relative TSR versus an industry index, so final share delivery could be anywhere from 0% to 300% of target depending on results.
These grants represent executive compensation rather than an open‑market purchase by the insider; they do not by themselves indicate insider buying or selling sentiment.

Form 4

Period: 2026-03-23

Chief Medical Officer

Transactions

Award
Performance Restricted Stock Unit
[F1][F2]
2026-03-23+221,000→ 221,000 total
→ Common Stock, $0.01 Par Value (221,000 underlying)
Award
Employee Stock Option (right to buy)
[F3]
2026-03-23+217,000→ 217,000 total
Exercise: $2.44From: 2027-03-23Exp: 2036-03-23→ Common Stock, $0.01 Par Value (217,000 underlying)

Footnotes (3)

[F1]Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
[F2]The performance-based restricted stock unit will vest on January 15, 2029. The number of shares delivered on the vesting date, as a percentage of the target specified [in Box 5 above], is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from April 1, 2026 until December 31, 2028 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the measurement period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% percent of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above.
[F3]25% vesting on March 23, 2027 and thereafter 1/16th quarterly.

Signature

/s/ Ajay Ahuja|2026-03-25

1 file