Codexis director sells shares to cover RSU taxes

CODEXIS, INC. director Raymond De Vre reported an open-market sale of common stock primarily to cover taxes from recently vested equity awards.

Rhea-AI Filing Summary

CODEXIS, INC. director Raymond De Vre reported an open-market sale of common stock primarily to cover taxes from recently vested equity awards. He sold 2,605 shares at $2.37 per share on June 11, 2026. After this transaction, he holds 84,811 shares directly, including 31,897 Restricted Stock Units, so he retains a substantial continuing stake in the company.

Insights

Equity compensation analyst

Small director sale tied to tax on RSU vesting, not discretionary selling.

The filing shows director Raymond De Vre sold 2,605 shares of CODEXIS, INC. common stock at $2.37 per share. A footnote states the sale was effected to cover tax liability from vesting and release of Restricted Stock Units.

Because the transaction is linked to tax obligations on compensation, it is more mechanical than a discretionary change in investment view. Following the sale, he directly owns 84,811 shares, including 31,897 RSUs, indicating a continuing equity position. Overall, this appears as routine equity-compensation housekeeping rather than a thesis-changing move.

Insider Trade Summary

Net Seller: 2,605 shares

Net Sell 1 txn

Insider De Vre Raymond

Role Director

Sold 2,605 shs ($6K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,605	$2.37	$6K

Holdings After Transaction: Common Stock — 84,811 shares (Direct)

Footnotes (2)

1. F1. The sale reported on this Form 4 was effected to cover tax liability incurred due to the vesting and release of Restricted Stock Units ("RSUs") held by the Reporting Person.
2. F2. Includes 31,897 RSUs.

Key Figures

Shares sold: 2,605 shares Sale price: $2.37 per share Shares held after transaction: 84,811 shares +1 more

4 metrics

Shares sold 2,605 shares Open-market sale on June 11, 2026

Sale price $2.37 per share Common Stock transaction

Shares held after transaction 84,811 shares Direct ownership following sale

RSUs included in holdings 31,897 RSUs Part of post-transaction position

Key Terms

Restricted Stock Units ("RSUs"), open-market sale, tax liability, Common Stock

4 terms

Restricted Stock Units ("RSUs") financial

"vesting and release of Restricted Stock Units ("RSUs") held by the Reporting Person"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

tax liability financial

"effected to cover tax liability incurred due to the vesting and release of Restricted Stock Units"

Common Stock financial

"security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

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

What insider transaction did CODEXIS (CDXS) director Raymond De Vre report?

Director Raymond De Vre reported selling 2,605 shares of CODEXIS common stock. The shares were sold at a price of $2.37 per share in an open-market transaction dated June 11, 2026, according to the Form 4 insider filing.

Why did Raymond De Vre sell CODEXIS (CDXS) shares in this Form 4 filing?

The sale was made to cover tax liability from vesting and release of Restricted Stock Units. A filing footnote explains the transaction was linked to RSU-related tax obligations, indicating it was largely a compensation-driven, mechanical sale rather than a discretionary portfolio decision.

How many CODEXIS (CDXS) shares does Raymond De Vre hold after this transaction?

After the reported sale, Raymond De Vre directly holds 84,811 CODEXIS common shares. This total includes 31,897 Restricted Stock Units, reflecting both currently owned stock and RSUs that represent additional equity-based compensation for the director.

What price did Raymond De Vre receive for the CODEXIS (CDXS) shares sold?

He sold the 2,605 CODEXIS common shares at $2.37 per share. This per-share price comes directly from the Form 4 transaction details, which classify the event as an open-market sale executed on June 11, 2026.

Does the CODEXIS (CDXS) Form 4 indicate any remaining RSUs for Raymond De Vre?

Yes. A footnote states that his post-transaction holdings include 31,897 Restricted Stock Units. These RSUs are part of his overall 84,811-share position and represent equity compensation that may settle in shares over time under plan terms.

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

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Accepted by SEC EDGAR 06/11/2026 - 08:19 PM 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^*

De Vre Raymond

(Last) (First) (Middle)

200 PENOBSCOT DRIVE

(Street)

REDWOOD CITY CALIFORNIA 94063

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CODEXIS, INC. [ CDXS ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026

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	06/11/2026		S(1)		2,605	D	$2.37	84,811(2)	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

Explanation of Responses:

1. The sale reported on this Form 4 was effected to cover tax liability incurred due to the vesting and release of Restricted Stock Units ("RSUs") held by the Reporting Person.

2. Includes 31,897 RSUs.

	/s/ Georgia Erbez, as Attorney-in-Fact for Raymond De Vre	06/11/2026
	** 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)