Pulmonx Corp (LUNG) awards RSUs and PSUs to COO and CFO

Rhea-AI Filing Summary

Pulmonx Corp reported new equity awards to its Chief Operating Officer and Chief Financial Officer on December 1, 2025. The executive received 1,200,000 Restricted Stock Units that are payable in common stock. According to the terms, 25% of these units vest one year after the grant date, with the remaining balance vesting in equal quarterly installments over the following three years.

The executive also received 400,000 Performance Stock Units, each tied to one share of common stock. These units vest only if two conditions are met: the company’s stock reaches a specified price per share and time-based milestones are satisfied, with 33% vesting one year after the grant date and the rest in eight equal quarterly installments through December 1, 2028. Both awards are shown at a price of $0, reflecting that they are equity incentives rather than open-market purchases.

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

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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^*

Sung Derrick

(Last) (First) (Middle)

C/O PULMONX CORPORATION

700 CHESAPEAKE DRIVE

(Street)

REDWOOD CITY CA 94063

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Pulmonx Corp [ LUNG ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/01/2025

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
Common Stock	12/01/2025		A		1,200,000(1)	A	$0	1,335,319	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
Performance Stock Units	(2)	12/01/2025		A		400,000		(2)	12/01/2028	Common Stock	400,000	$0	400,000	D

Explanation of Responses:

1. Represents grant of Restricted Stock Units payable solely in common stock of the Issuer, 25% of which vests one year from the grant date of December 1, 2025, and the remainder vests in equal quarterly installments over the three-year period following the date of grant.

2. Each Performance Stock Unit represents a contingent right to receive one share of the Issuer's common stock. The Performance Stock Units vest upon meeting the following two conditions: (a) upon the Issuer's common stock achieving a specified price per share and (b) with respect to 33% on the one year following the grant date of December 1, 2025 and the remainder in eight equal quarterly installments.

	/s/ David Aaron Lehman, Attorney-in-Fact	12/02/2025
	** 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).
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FAQ

What insider transaction did Pulmonx Corp (LUNG) report in this Form 4?

The filing shows that the Pulmonx Corp COO and CFO received equity awards on December 1, 2025, including 1,200,000 Restricted Stock Units and 400,000 Performance Stock Units, both tied to the company’s common stock.

How do the 1,200,000 Restricted Stock Units for Pulmonx Corp (LUNG) vest?

For the 1,200,000 Restricted Stock Units, 25% vest one year after the December 1, 2025 grant date, and the remaining units vest in equal quarterly installments over the following three years.

What conditions apply to the 400,000 Performance Stock Units at Pulmonx Corp (LUNG)?

Each of the 400,000 Performance Stock Units represents a right to receive one share of common stock and vests only if two conditions are met: the stock reaches a specified price per share and time-based vesting milestones are satisfied, with 33% vesting one year after December 1, 2025 and the rest in eight equal quarterly installments.

What is the ownership status of these Pulmonx Corp (LUNG) awards after the transaction?

After the reported transactions, the executive beneficially owned 1,335,319 shares of Pulmonx Corp common stock directly, as shown in the non-derivative securities table.

Are the Pulmonx Corp (LUNG) equity awards open-market purchases?

No. The tables list the price as $0 for the 1,200,000 Restricted Stock Units and the 400,000 Performance Stock Units, indicating these are compensation-related grants rather than open-market stock purchases.

Who is the reporting person in this Pulmonx Corp (LUNG) Form 4 and what is their role?

The reporting person is an officer of Pulmonx Corp, serving as COO and CFO, and files the form as a single reporting person.