Aurinia CFO awarded PSUs and stock options

Hearne Michael S reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Hearne Michael S reported acquisition or exercise transactions in this Form 4 filing.

Aurinia Pharmaceuticals Inc. reported that Chief Financial Officer Michael S. Hearne received new equity compensation awards. He was granted 116,144 performance stock units, each representing a contingent right to receive one common share, and 70,230 employee stock options.

The PSUs vest in multiple tranches based on Aurinia’s share price performance and time-based conditions, while the options have a strike price of $15.28 per share and expire on May 18, 2036. These are compensation-related grants rather than open-market share purchases or sales.

Insider Trade Summary

Grant/Award: 186,374 shares

Grant/Award 2 txns

Insider Hearne Michael S

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	70,230	$0.00	$0.00
Grant/Award	Common Stock	116,144	$0.00	$0.00

Holdings After Transaction: Employee Stock Option (right to buy) — 70,230 contracts (Direct); Common Stock — 116,144 shares (Direct)

Footnotes (2)

1. F1. Each performance stock unit ("PSU") represents a contingent right to receive one common share of the Issuer. 46,820 PSUs vest in four tranches upon the Issuer's common shares achieving four progressively higher target prices, with respective one year retention periods per tranche achievement. 69,324 PSUs vest in two tranches at the three and five year anniversary date of grant if the Issuer's common shares achieve target prices that represent significant increases from the share price on date of grant before the respective vesting date.
2. F2. 33% vest on the 1-year anniversary of the grant date, and the remaining 67% vest equally in monthly installments over the following 2 years.

Key Figures

Performance stock units granted: 116,144 units Stock options granted: 70,230 options Option exercise price: $15.28 per share +3 more

6 metrics

Performance stock units granted 116,144 units Granted to CFO Michael S. Hearne on May 18, 2026

Stock options granted 70,230 options Employee stock options granted on May 18, 2026

Option exercise price $15.28 per share Strike price of employee stock options

Option expiration date May 18, 2036 Expiration for granted employee stock options

Performance-based PSU tranche 46,820 PSUs Vest in four tranches upon achieving target share prices

Time- and performance-based PSU tranche 69,324 PSUs Vest in two tranches at 3 and 5 years if price targets met

Key Terms

performance stock unit ("PSU"), Employee Stock Option (right to buy), vest, target prices

4 terms

performance stock unit ("PSU") financial

"Each performance stock unit ("PSU") represents a contingent right to receive one common share"

Employee Stock Option (right to buy) financial

"Employee Stock Option (right to buy) with an exercise price of 15.2800"

vest financial

"46,820 PSUs vest in four tranches upon the Issuer's common shares achieving four progressively higher target prices"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

target prices financial

"PSUs vest when the Issuer's common shares achieve target prices that represent significant increases"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Aurinia Pharmaceuticals (AUPH) CFO Michael Hearne report on this Form 4?

The Form 4 reports that CFO Michael S. Hearne received equity compensation awards: 116,144 performance stock units and 70,230 employee stock options. These awards are grants from Aurinia Pharmaceuticals, not open-market share purchases or sales by the executive.

How many performance stock units were granted to the Aurinia (AUPH) CFO?

Michael Hearne was granted 116,144 performance stock units. Each PSU represents a contingent right to receive one Aurinia common share, subject to various vesting conditions tied to share price targets and time-based requirements over several years.

What stock options did the Aurinia (AUPH) CFO receive in this filing?

He received 70,230 employee stock options with an exercise price of $15.28 per share. These options are exercisable into Aurinia common stock and have an expiration date of May 18, 2036, providing long-term equity-based compensation potential.

How do the Aurinia (AUPH) CFO’s performance stock units vest?

46,820 PSUs vest in four tranches when Aurinia’s common shares reach progressively higher target prices, each with a one-year retention period. The remaining 69,324 PSUs vest in two tranches at three and five years if ambitious share price targets are achieved before those dates.

What is the vesting schedule for the Aurinia (AUPH) CFO’s stock options?

For the granted stock options, 33% vest on the one-year anniversary of the grant date. The remaining 67% then vest in equal monthly installments over the following two years, creating a three-year total vesting period tied to continued service.

Did the Aurinia (AUPH) CFO buy or sell shares on the open market in this Form 4?

No open-market buy or sell transactions are reported. The Form 4 only shows equity compensation grants: performance stock units and stock options awarded by Aurinia, rather than discretionary market transactions by the CFO.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/20/2026 - 05:04 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hearne Michael S

(Last) (First) (Middle)

#140, 14315 - 118 AVENUE

(Street)

EDMONTON T5L 4S6

(City) (State) (Zip)

ALBERTA, CANADA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Aurinia Pharmaceuticals Inc. [ AUPH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/18/2026		A		116,144(1)	A	$0	116,144	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$15.28	05/18/2026		A		70,230		(2)	05/18/2036	Common Stock	70,230	$0	70,230	D

Explanation of Responses:

1. Each performance stock unit ("PSU") represents a contingent right to receive one common share of the Issuer. 46,820 PSUs vest in four tranches upon the Issuer's common shares achieving four progressively higher target prices, with respective one year retention periods per tranche achievement. 69,324 PSUs vest in two tranches at the three and five year anniversary date of grant if the Issuer's common shares achieve target prices that represent significant increases from the share price on date of grant before the respective vesting date.

2. 33% vest on the 1-year anniversary of the grant date, and the remaining 67% vest equally in monthly installments over the following 2 years.

Remarks:

	/s/ Michael Hearne	05/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)