Harmony Biosciences (HRMY) CMO exercises RSUs and covers tax withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Harmony Biosciences Holdings, Inc. chief medical officer Kumar Budur exercised 18,750 restricted stock units into common stock and had 8,882 shares withheld by the company to cover income tax obligations tied to the vesting. These are compensation-related, non‑market transactions rather than open‑market buying or selling.
Following the transactions, Budur directly owns 24,115 shares of common stock. The filing also corrects previously misstated common stock and derivative holdings, and confirms that the RSU award granted on May 1, 2024 vests in four equal annual installments beginning May 1, 2025.
Positive
- None.
Negative
- None.
Insider Trade Summary
18,750 shares exercised/converted
Mixed
3 txns
Insider
Budur Kumar
Role
CHIEF MEDICAL OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 18,750 | $0.00 | -- |
| Exercise | Common Stock | 18,750 | $0.00 | -- |
| Tax Withholding | Common Stock | 8,882 | $31.83 | $283K |
Holdings After Transaction:
Restricted Stock Units — 37,500 shares (Direct, null);
Common Stock — 32,997 shares (Direct, null)
Footnotes (1)
- The reporting person's previous Form 4 filed on January 26, 2026 inadvertently misstated the number of shares of common stock and derivatives beneficially owned following the transactions reported therein, and that the number has been corrected in the current filing. Shares withheld by the Issuer to satisfy required income tax withholdings pursuant to the vesting of restricted stock units on their scheduled vesting date. The award of restricted stock units was previously granted on May 1, 2024 and shall vest in four equal annual installments beginning on May 1, 2025, subject to the Reporting Person's continued service through each applicable vesting date. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock and has no expiration date.
Key Figures
RSUs exercised: 18,750 units
Shares withheld for taxes: 8,882 shares
Common shares owned after transactions: 24,115 shares
+2 more
5 metrics
RSUs exercised
18,750 units
Restricted stock units converted to common stock on May 1, 2026
Shares withheld for taxes
8,882 shares
Common shares withheld to satisfy income tax withholdings
Common shares owned after transactions
24,115 shares
Direct common stock holdings following reported Form 4 transactions
Exercise transactions count
1 transaction
Derivative exercise or conversion events in this Form 4
Tax withholding transactions count
1 transaction
Share withholding events to cover income tax liability
Key Terms
restricted stock units, income tax withholdings, derivative security, beneficially owned, +1 more
5 terms
restricted stock units financial
"The award of restricted stock units was previously granted on May 1, 2024 and shall vest in four equal annual installments"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
income tax withholdings financial
"Shares withheld by the Issuer to satisfy required income tax withholdings pursuant to the vesting of restricted stock units"
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
beneficially owned financial
"inadvertently misstated the number of shares of common stock and derivatives beneficially owned following the transactions"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
vesting date financial
"restricted stock units was previously granted on May 1, 2024 and shall vest in four equal annual installments beginning on May 1, 2025, subject to continued service through each applicable vesting date"
FAQ
What did Harmony Biosciences (HRMY) CMO Kumar Budur report in this Form 4?
Kumar Budur reported exercising 18,750 restricted stock units into common stock. In connection with this vesting, 8,882 shares were withheld by the company for income tax obligations, and his direct common stock holdings were updated to 24,115 shares.
What are the key details of the Harmony Biosciences (HRMY) RSU award?
The restricted stock units were granted on May 1, 2024 and vest in four equal annual installments starting May 1, 2025. Each RSU represents a contingent right to receive one share of common stock and, as disclosed, the award has no stated expiration date.
Did this Harmony Biosciences (HRMY) filing correct any prior reporting errors?
Yes. The filing states that a prior Form 4 dated January 26, 2026 misstated the number of common shares and derivatives beneficially owned after those transactions, and confirms that the ownership figures have been corrected in the current report.