Pulmonx CFO sells shares to cover RSU taxes

Pulmonx Corp Chief Financial Officer & PAO Mehul Joshi reported sales of 7,936 shares of common stock on September 2, 2025 at $1.60 per share.

Rhea-AI Filing Summary

Pulmonx Corp Chief Financial Officer & PAO Mehul Joshi reported sales of 7,936 shares of common stock on September 2, 2025 at $1.60 per share. The filing explains these sales were made to cover tax withholding obligations related to RSU vesting. After these transactions, Joshi directly holds 208,489 shares of Pulmonx common stock, including 2,500 shares acquired under the 2020 Employee Stock Purchase Plan on August 15, 2025.

Insights

Securities Analyst

TL;DR: Routine insider sales to satisfy tax withholding for vested RSUs; transactions are small relative to company capitalization.

The reported transactions are labeled as sales to cover tax withholding obligations following RSU vesting and were executed at $1.60 per share. Such sell-to-cover transactions are common and do not indicate discretionary selling for cash needs or signaling of new material information. The filing also shows a small ESPP purchase of 2,500 shares on August 15, 2025, which demonstrates continued participation in employee stock plans.

Corporate Governance Expert

TL;DR: Disclosure complies with Section 16 reporting; no governance red flags evident from the Form 4 entries.

The Form 4 identifies the reporting persons role as Chief Financial Officer and Principal Accounting Officer and reports the transactions with clear explanations tying sales to tax withholding for vested RSUs. The presence of an attorney-in-fact signature is acceptable under procedural norms. There is no indication of unusual timing or pattern that would raise governance concerns based solely on this filing.

Insider Trade Summary

Net Seller: 7,936 shares

Net Sell 2 txns

Insider Joshi Mehul

Role Chief Financial Officer & PAO

Sold 7,936 shs ($13K)

Type	Security	Shares	Price	Value
Sale	Common Stock	4,271	$1.60	$7K
Sale	Common Stock	3,665	$1.60	$6K

Holdings After Transaction: Common Stock — 208,489 shares (Direct)

Footnotes (3)

1. F1. These shares were sold by the reporting person to cover tax withholding obligations in connection with the vesting of the Restricted Stock Units (the "RSUs") granted on May 6, 2024.
2. F2. Includes 2,500 shares acquired by the Reporting Person under the Issuer's 2020 Employee Stock Purchase Plan on August 15, 2025.
3. F3. These shares were sold by the reporting person to cover tax withholding obligations in connection with the vesting of the RSUs granted on March 3, 2025.

Key Figures

Common stock shares sold: 7,936 shares Sale price per share: $1.6000 per share Post-transaction holdings: 208,489 shares +1 more

4 metrics

Common stock shares sold 7,936 shares Total Pulmonx common stock sold by Mehul Joshi on September 2, 2025

Sale price per share $1.6000 per share Price received for each share of common stock sold

Post-transaction holdings 208,489 shares Pulmonx common stock directly held by Mehul Joshi after reported transactions

ESPP shares acquired 2,500 shares Shares acquired under the 2020 Employee Stock Purchase Plan on August 15, 2025

Key Terms

Restricted Stock Units, 2020 Employee Stock Purchase Plan, tax withholding obligations

3 terms

Restricted Stock Units financial

"vesting of the Restricted Stock Units (the "RSUs") granted on May 6, 2024"

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.

2020 Employee Stock Purchase Plan financial

"acquired by the Reporting Person under the Issuer's 2020 Employee Stock Purchase Plan"

tax withholding obligations financial

"sold by the reporting person to cover tax withholding obligations in connection with the vesting"

FAQ

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

What insider transaction did Pulmonx (LUNG) CFO Mehul Joshi report?

Mehul Joshi reported selling 7,936 shares of Pulmonx common stock on September 2, 2025 at $1.60 per share. The filing notes these sales were used to cover tax withholding obligations arising from the vesting of Restricted Stock Units (RSUs).

At what price did Pulmonx (LUNG) shares sell in Joshi’s Form 4 filing?

The reported Pulmonx common stock sales were executed at $1.60 per share. Two separate transactions on September 2, 2025 involved 4,271 shares and 3,665 shares, together totaling 7,936 shares sold to address RSU-related tax withholding obligations.

How many Pulmonx (LUNG) shares does CFO Mehul Joshi hold after the sale?

Following the reported transactions, Mehul Joshi directly holds 208,489 shares of Pulmonx common stock. This balance includes 2,500 shares acquired under the company’s 2020 Employee Stock Purchase Plan on August 15, 2025, as noted in the filing footnotes.

Why were Pulmonx (LUNG) shares sold in this Form 4 by the CFO?

The filing states the shares were sold to cover tax withholding obligations linked to the vesting of RSUs granted on May 6, 2024 and March 3, 2025. These transactions reflect tax-related dispositions rather than discretionary portfolio trading.

Did Pulmonx (LUNG) CFO acquire any shares mentioned in this Form 4?

Yes. A footnote explains Joshi acquired 2,500 shares under Pulmonx’s 2020 Employee Stock Purchase Plan on August 15, 2025. These shares are included in his post-transaction direct holding of 208,489 Pulmonx common shares.

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

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Accepted by SEC EDGAR 09/03/2025 - 05:12 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^*

Joshi Mehul

(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)
	Chief Financial Officer & PAO

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		S(1)		4,271	D	$1.6	212,154(2)	D
Common Stock	09/02/2025		S(3)		3,665	D	$1.6	208,489	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. These shares were sold by the reporting person to cover tax withholding obligations in connection with the vesting of the Restricted Stock Units (the "RSUs") granted on May 6, 2024.

2. Includes 2,500 shares acquired by the Reporting Person under the Issuer's 2020 Employee Stock Purchase Plan on August 15, 2025.

3. These shares were sold by the reporting person to cover tax withholding obligations in connection with the vesting of the RSUs granted on March 3, 2025.

	/s/ David Aaron Lehman, Attorney-in-Fact	09/03/2025
	** 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.