McCulloch Kevin 4
4 · Xeris Biopharma Holdings, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Xeris (XERS) President Kevin McCulloch Exercises Options
What Happened
Kevin McCulloch, President and Chief Operating Officer of Xeris Biopharma (XERS), exercised stock options on March 12, 2026 and immediately disposed of the resulting shares. He exercised 48,894 options at $4.09 (proceeds/cost $199,976) and 4 options at $3.94 ($16), for a combined 48,898 shares and $199,992. The filing shows both the acquisition by exercise (transaction code M) and a simultaneous disposition of the same shares, a common cashless or sell-to-cover pattern.
Key Details
- Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (appears timely).
- Exercise details: 48,894 shares @ $4.09 = $199,976; 4 shares @ $3.94 = $16; total 48,898 shares and $199,992.
- Disposition: Same numbers reported as disposed the same day (indicates immediate sale or cashless exercise).
- Shares owned after transaction: Not disclosed in this filing.
- Footnotes:
- F1: Reporting person disclaims beneficial ownership except to extent of pecuniary interest.
- F2/F3: Options were granted under the company’s 2018 Plan (Dec 10, 2020 and Aug 26, 2020 grants) with standard multi-year vesting schedules described in the filing.
- Filing timeliness: No late filing flag shown; Form 4 dated Mar 16 for a Mar 12 transaction appears within the normal filing window.
Context
- Code M indicates exercise of a derivative (stock option). The matching disposition entries mean shares were sold immediately (cashless exercise or sell-to-cover), which is typically a routine liquidity event rather than an outright purchase signaling bullish conviction.
- The filing’s footnotes describe the original option grants and vesting schedules; they do not explain the motive for the sale.
- F1’s disclaimer means the reporting person limits the scope of claimed beneficial ownership in this report.
Insider Transaction Report
Form 4
McCulloch Kevin
See Remarks
Transactions
- Exercise/Conversion
Common Stock
2026-03-12$4.09/sh+48,894$199,976→ 1,777,721 total - Exercise/Conversion
Common Stock
2026-03-12$3.94/sh+4$16→ 1,777,725 total - Exercise/Conversion
Stock Option (Right to Buy)
[F2]2026-03-12$4.09/sh−48,894$199,976→ 43,773 totalExercise: $4.09Exp: 2027-12-10→ Common Stock (48,894 underlying) - Exercise/Conversion
Stock Option (Right to Buy)
[F3]2026-03-12$3.94/sh−4$16→ 79,996 totalExercise: $3.94Exp: 2030-08-26→ Common Stock (4 underlying)
Holdings
- 25,000(indirect: By Spouse)
Common Stock
[F1]
Footnotes (3)
- [F1]The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
- [F2]The reporting person received the stock options on December 10, 2020 pursuant to an award under the Company's 2018 Stock Option/Stock Issuance Plan (the "2018 Plan"). 50% of the options vested on the first anniversary of the vesting commencement date, and the remaining 50% of options vested on the second anniversary of the vesting commencement date, in each case subject to continued employment through such vesting date.
- [F3]The reporting person received the stock options on August 26, 2020 pursuant to an award under the 2018 Plan. 50% of the options vested on the first anniversary of the vesting commencement date, 25% of the options vested on the 18-month anniversary of the vesting commencement date, and the remaining 25% of options vested on the two-year anniversary of the vesting commencement date, in each case subject to continued employment through such vesting date.
Signature
/s/ Beth Hecht, Attorney-in-Fact|2026-03-16