Kuan Arthur 4

What Happened

Arthur Kuan, CEO of CG Oncology (CGON), exercised options on 2026-03-12 to purchase 64,612 shares at an exercise price of $1.72 per share (aggregate exercise cost ≈ $111,133). The company withheld 1,847 shares to satisfy tax withholding (valued at $60.15/share, ≈ $111,097), resulting in a net issuance to Kuan of 62,765 shares. This was a net option exercise (acquisition of shares), not an open‑market sale.

Key Details

• Transaction date: 2026-03-12; Form 4 filed 2026-03-13 (timely).
• Options exercised: 64,612 underlying shares at $1.72 = $111,133 aggregate exercise price.
• Tax withholding: 1,847 shares withheld @ $60.15/share = $111,097 (reported as disposed to cover taxes).
• Net shares received: 62,765 common shares issued to the reporting person.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 confirms this was a "net exercise" (company withheld shares for taxes and the filer paid the remaining exercise amount in cash). F2 notes the option was vested and exercisable.

Context

This was a cashless/net exercise of vested stock options—company withheld a small portion of the exercised shares to cover taxes rather than the insider selling shares on the open market. The filing shows the exercise price paid by the insider ($111k) and the withholding value per share ($60.15), which implies the net shares received had a market value of roughly $3.78M (62,765 × $60.15). Net exercises like this are common for executives exercising vested options and do not by themselves indicate a buy/sell signal.