KIRK RANDAL J 4

What Happened Randal J. Kirk (reported as a 10% owner) reported the conversion/exercise of 143,678 derivative securities on March 13, 2026. The Form 4 shows an acquisition of 143,678 shares at an exercise/conversion price of $0.00 and a matching disposition of 143,678 derivative securities (both coded M for exercise/conversion). No cash was reported as paid for the conversion ($0.00 exercise price).

Key Details

• Transaction date: 2026-03-13 (reported on Form 4 filed 2026-03-16). Filing appears timely.
• Transaction code: M = exercise or conversion of a derivative security.
• Shares involved: 143,678 acquired; 143,678 derivative securities reported disposed.
• Price/consideration: $0.00 per share (no cash exercise payment reported).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Footnote F1: These were restricted stock units (RSUs) granted 2025-03-13 and vested in full on the one-year anniversary (2026-03-13).
• Footnote F2: Mr. Kirk controls multiple entities that may hold shares; he disclaims beneficial ownership of those entity-held shares except for any pecuniary interest.

Context

• The M-code and footnote indicate RSUs vested and converted into common stock. The matching acquisition and derivative disposition lines reflect that conversion/settlement rather than an open‑market buy or sale. Because no cash was paid per the filing, this is not a cash purchase; it documents the vesting/settlement of previously granted awards. As a 10% owner (not a routine officer trade), holdings may also be reported across related entities (see F2).