Cummings James F. 4

What Happened
James F. Cummings, Chief Medical Officer of Vaxart, had 6,772 shares withheld by the company to satisfy income tax withholding in connection with the net settlement of restricted stock units (RSUs) that vested on March 18, 2026. The withheld shares were valued at $0.63 each, a total of $4,298. This was a tax-withholding/net-settlement transaction (Form 4 code F), not an open-market sale.

Key Details

• Transaction date: March 18, 2026; Form 4 filed: March 20, 2026 (timely filing).
• Shares withheld/disposed: 6,772 at $0.63 per share; total value ~$4,298.
• Transaction type/code: F — payment of exercise price or tax liability via share withholding (net settlement of RSUs).
• Shares owned after transaction: not specified in the excerpt provided; footnote indicates holdings include 75,618 shares acquired under the 2022 Employee Stock Purchase Plan (ESPP).
• Footnote: issuer withheld shares to satisfy income tax withholding on vested RSUs.

Context
Net settlement/withholding of RSUs is a common administrative action to cover tax obligations when awards vest and does not necessarily reflect a deliberate market sale by the insider. This transaction reduced Cummings’ outstanding shares by the withheld amount but was performed to meet tax remittance requirements.