Kodiak Sciences (KOD) CFO exercises 30K options and sells 30K shares under 10b5-1 plan
Rhea-AI Filing Summary
Kodiak Sciences Inc. Chief Financial Officer John A. Borgeson reported an exercise-and-sell transaction involving company stock. On April 2, 2026, he exercised stock options to acquire 30,000 shares of Common Stock at an exercise price of $1.04 per share. The option was fully vested and scheduled to expire on June 22, 2026.
On the same date, he sold a total of 30,000 Common shares in multiple open-market transactions at weighted-average prices of $39.14, $40.29, $40.88, and $41.77 per share. These sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on September 29, 2025. After these transactions, Borgeson directly holds 183,316 shares of Kodiak Sciences Common Stock.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Exercise and Sale: 30,000 shares ($1.17M approx. pre-tax spread)
Exercise and Sale
6 txns
Insider
BORGESON JOHN A.
Role
Chief Financial Officer
Sold
30,000 shs ($1.20M)
Approx. gross sale proceeds
$1.20M
Approx. exercise cost
$31K
Approx. pre-tax spread
$1.17M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (Right to Buy) | 30,000 | $0.00 | $0.00 |
| Exercise | Common Stock | 30,000 | $1.04 | $31K |
| Sale | Common Stock | 12,692 | $39.14 | $497K |
| Sale | Common Stock | 12,477 | $40.29 | $503K |
| Sale | Common Stock | 4,231 | $40.88 | $173K |
| Sale | Common Stock | 600 | $41.77 | $25K |
Holdings After Transaction:
Stock Option (Right to Buy) — 58,614 shares (Direct);
Common Stock — 183,316 shares (Direct)
Footnotes (6)
- F1. The sales reported in this Form 4 were effected pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 29, 2025.
- F2. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $38.68 to $39.67, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in these footnotes.
- F3. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $39.68 to $40.67, inclusive.
- F4. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $40.68 to $41.67, inclusive.
- F5. The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions ranging from $41.69 to $41.91, inclusive.
- F6. The shares subject to this option are fully vested.
Key Figures
Options exercised: 30,000 shares
Option exercise price: $1.04 per share
Shares sold: 30,000 shares
+5 more
8 metrics
Options exercised
30,000 shares
Stock Option (Right to Buy) exercised on April 2, 2026
Option exercise price
$1.04 per share
Exercise price for 30,000-stock option grant
Shares sold
30,000 shares
Total Common Stock sold in open-market trades on April 2, 2026
Sale price (weighted average 1)
$39.14 per share
Weighted-average price for one tranche of Common Stock sales
Sale price (weighted average 2)
$40.29 per share
Weighted-average price for second tranche of Common Stock sales
Sale price (weighted average 3)
$40.88 per share
Weighted-average price for third tranche of Common Stock sales
Sale price (weighted average 4)
$41.77 per share
Weighted-average price for fourth tranche of Common Stock sales
Shares held after transaction
183,316 shares
CFO’s direct Common Stock ownership after April 2, 2026 trades
Key Terms
Stock Option (Right to Buy), Rule 10b5-1 trading plan, weighted-average price, open-market sale, +1 more
5 terms
Stock Option (Right to Buy) financial
"security_title: "Stock Option (Right to Buy)" with 30,000 underlying shares"
Rule 10b5-1 trading plan financial
"sales were effected pursuant to a 10b5-1 trading plan adopted on September 29, 2025"
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted-average price financial
"The price reported in Column 4 is a weighted-average price. The shares were sold in multiple transactions"
Weighted-average price is the average of multiple prices where each price is counted according to its size or importance—larger trades carry more weight than smaller ones, like averaging course grades by credit hours. It matters to investors because it gives a more realistic picture of the true price paid or received, helping assess trade execution, compare performance, calculate cost basis, and value positions more accurately than a simple average.
open-market sale financial
"transaction_action: "open-market sale" for Common Stock transactions coded "S""
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.
fully vested financial
"The shares subject to this option are fully vested."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Kodiak Sciences (KOD) CFO John A. Borgeson report in this Form 4?
He reported exercising stock options for 30,000 Kodiak Sciences shares and selling 30,000 shares in the open market. The filing shows both the derivative exercise and subsequent sales, along with his updated direct ownership position after the transactions.
Was the Kodiak Sciences (KOD) CFO’s stock sale made under a Rule 10b5-1 plan?
Yes. The filing states the sales were effected under a Rule 10b5-1 trading plan adopted by John A. Borgeson on September 29, 2025. Such pre-arranged plans schedule trades in advance to help manage potential trading-related conflicts.
What type of derivative security did the Kodiak Sciences (KOD) CFO exercise?
He exercised a Stock Option (Right to Buy) covering 30,000 underlying shares of Kodiak Sciences Common Stock. The option carried a $1.04 per share exercise price and an expiration date of June 22, 2026, and was fully vested at the time of exercise.