Novara Mark David 4
4 · TANDEM DIABETES CARE INC · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Tandem Diabetes (TNDM) EVP Mark Novara Converts RSUs, Sells 187 Shares
What Happened
Mark David Novara, EVP & Chief Commercial Officer of Tandem Diabetes Care (TNDM), had 7,414 RSUs convert to common shares on 2026-03-16 (reported as a derivative conversion, code M). Of those, the company withheld 5,540 shares to satisfy tax withholding requirements (code F) valued at $119,609, and Novara sold 187 shares in the open market on 2026-03-17 under a Rule 10b5-1 plan (code S) for $23.05 each, generating $4,310. The conversion price was $0.00 (no cash paid); net shares retained from this conversion = 1,687.
Key Details
- Transaction dates and prices:
- 2026-03-16: conversion of 7,414 RSUs to shares at $0.00 (code M).
- 2026-03-16: 5,540 shares withheld by the company for tax obligations at $21.59/share (code F) — $119,609 value.
- 2026-03-17: sale of 187 shares in the open market at $23.05/share — $4,310 proceeds (code S).
- Shares owned after this vesting event: net increase of 1,687 shares retained from the conversion (this is not the insider’s total holdings).
- Footnotes: RSUs were awarded 12/15/2023 under the 2023 Long‑Term Incentive Plan; vesting schedule includes an initial 33% vest on 12/15/2024 with the remainder in quarterly installments. The open‑market sale was made pursuant to a Rule 10b5‑1 trading plan. Company share withholding satisfied the tax obligation (no open sale to cover taxes).
- Filing timeliness: Form 4 filed 2026-03-18 for transactions on 2026-03-16 — appears to be filed timely.
Context
This was a routine RSU vesting/conversion (derivative conversion) with company share withholding to cover taxes and a small preplanned sale under a 10b5‑1 program. Code explanation: M = exercise/conversion of a derivative (here RSUs converting to shares), F = tax withholding, S = sale. Such conversions and withholding are common for RSU vesting and are not the same as an executive making a discretionary purchase or large sale intended to express a view on the stock.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-03-16+7,414→ 43,383 total - Tax Payment
Common Stock
[F1]2026-03-16$21.59/sh−5,540$119,609→ 37,843 total - Sale
Common Stock
[F2]2026-03-17$23.05/sh−187$4,310→ 37,656 total - Exercise/Conversion
Restricted Stock Unit
[F3][F4][F5]2026-03-16−7,414→ 22,244 total→ Common Stock (7,414 underlying)
Footnotes (5)
- [F1]Shares withheld by Tandem Diabetes Care Inc. (the Company) to satisfy tax withholding requirements on vesting of restricted stock units (RSU). No shares were sold.
- [F2]The shares were sold, pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 4, 2025.
- [F3]Awarded on December 15, 2023 pursuant to the Tandem Diabetes Care Inc. 2023 Long-Term Incentive Plan, as amended, and agreements related thereto (the 2023 Plan).
- [F4]Each RSU represents a contingent right to receive either one share of common stock of the Issuer or cash in lieu thereof, at the Issuer's discretion, in accordance with the terms of the 2023 Plan.
- [F5]RSU vest as to thirty-three percent (33%) of the total number of shares subject to the RSU on 12/15/2024, and the remaining shares shall vest in eight (8) equal quarterly installments thereafter.