[Form 4] Kodiak Sciences Inc Insider Trading Activity

Rhea-AI Filing Summary

Form 4 filing for Kodiak Sciences Inc. (KOD) discloses that officer John A. Borgeson received a stock-option grant covering 250,000 shares of common stock on 07/04/2025 at an exercise price of $3.95 per share.

The option vests on a standard four-year schedule:

• 1/48th (≈5,208 shares) vests one month after 07/01/2025
• The remaining 47/48th vests in equal monthly installments thereafter, subject to continuous service

No shares were bought or sold outright; this is a new award that increases Borgeson’s potential ownership to 250,000 derivative securities held directly. The grant expires on 07/03/2035.

Investors should note that the award may create modest future dilution if exercised, but it also strengthens long-term alignment between the executive and shareholders.

Insights

Corporate Governance Expert

TL;DR: Routine option grant; aligns incentives, limited immediate impact; modest future dilution possible.

The Form 4 shows a single compensatory grant rather than an open-market transaction. At 250,000 options, the award is meaningful for the individual but immaterial relative to Kodiak’s total shares outstanding. The four-year, monthly vesting schedule is standard and promotes retention. No cash outflow or insider sentiment signal is present because no shares were purchased or sold. Potential dilution equals 250,000 shares, but that is minor unless numerous similar grants accumulate. Overall, governance practices appear conventional and shareholder-friendly.

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

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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^*

BORGESON JOHN A.

(Last) (First) (Middle)

1250 PAGE MILL ROAD

(Street)

PALO ALTO CA 94304

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Kodiak Sciences Inc. [ KOD ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/04/2025

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

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

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

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

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
Stock Option (Right to Buy)	$3.95	07/04/2025		A		250,000		(1)	07/03/2035	Common Stock	250,000	$0	250,000	D

Explanation of Responses:

1. One-forty-eighth (1/48th) of the shares vest one month after July 1, 2025; the balance of the Shares vest in a series of forty-seven (47) successive equal monthly installments thereafter, subject to Reporting Person's Continuous Service (as defined in the 2018 Equity Incentive Plan) as of each such date.

	/s/ David Peinsipp, Attorney-in-Fact for John A. Borgeson	07/08/2025
	** 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.

FAQ

What did insider John A. Borgeson receive according to the July 2025 Form 4 for KOD?

He was granted 250,000 stock options with a $3.95 exercise price.

Does the Form 4 show any shares of Kodiak Sciences bought or sold?

No. The filing reports only a stock-option award; no common shares were traded.

When do the Borgeson options start vesting?

The first tranche vests one month after July 1, 2025, with equal monthly vesting thereafter for 47 months.

What is the expiration date of the granted options?

The options expire on 07/03/2035 if not exercised.

How could the option grant affect Kodiak Sciences shareholders?

Exercise of the options would add up to 250,000 shares to the float, causing modest dilution.