[Form 4] Pulmonx Corporation Insider Trading Activity

Rhea-AI Filing Summary

Steven S. Williamson, President & CEO and a director of Pulmonx Corporation (LUNG), reported transactions on Form 4 showing routine insider activity. On 09/02/2025 he disposed of 5,118 shares and 4,530 shares of the issuer's common stock at a price of $1.60 per share. The filings state both sales were made to cover tax withholding obligations related to vested restricted stock units granted on March 15, 2024 and March 3, 2025.

The report also discloses that the reporting person acquired 2,500 shares under the Issuer's 2020 Employee Stock Purchase Plan on 08/15/2025. Following the reported transactions the filing lists beneficial ownership amounts of 363,497 and 358,967 shares in the non-derivative table lines, reflecting the post-transaction holdings disclosed by the reporting person.

Positive

• Participation in ESPP: Reporting person acquired 2,500 shares under the Issuer's 2020 Employee Stock Purchase Plan on 08/15/2025.
• Transparent disclosure: Sales are clearly described as to cover tax withholding for vested RSUs, meeting Form 4 disclosure expectations.

Negative

• Insider share disposals: Reporting person sold a total of 9,648 shares (5,118 and 4,530) at $1.60 per share on 09/02/2025.

Insights

Corporate Governance Expert

TL;DR: Routine insider sales to satisfy tax obligations and a small ESPP purchase; no governance red flags disclosed.

The Form 4 shows the CEO/director sold shares through two separate transactions on 09/02/2025 explicitly to cover tax withholding from vested RSUs and separately purchased 2,500 shares via the ESPP on 08/15/2025. These actions are typical compensation-related transactions and the filing includes an attorney-in-fact signature, indicating standard processing. There is no indication in this Form 4 of atypical timing, related-party transactions, or departures from required disclosure practices.

Securities Analyst

TL;DR: Insider sold 9,648 shares at $1.60 to cover taxes while participating in the ESPP for 2,500 shares; largely neutral for investors.

The combined disposals total 9,648 shares sold at $1.60 per share. The filing explicitly ties these sales to tax-withholding on vested RSUs, which typically reduces the information content about intent to trade for liquidity. The separate ESPP acquisition of 2,500 shares on 08/15/2025 is an incremental purchase but small relative to the disclosed beneficial ownership figures of ~360k shares. Overall the transactions are routine compensation mechanics rather than directional insider bets.

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
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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^*

Williamson Steven S.

(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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT AND CEO

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)		5,118	D	$1.6	363,497(2)	D
Common Stock	09/02/2025		S(3)		4,530	D	$1.6	358,967	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 March 15, 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.
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FAQ

What transactions did Pulmonx (LUNG) insider Steven Williamson report on Form 4?

The Form 4 reports disposals of 5,118 and 4,530 shares on 09/02/2025 at $1.60 per share and an acquisition of 2,500 shares under the ESPP on 08/15/2025.

Why were the shares sold by the reporting person on 09/02/2025?

The filing states both sales were made to cover tax withholding obligations associated with vested restricted stock units granted on 03/15/2024 and 03/03/2025.

How many shares does the reporting person beneficially own after the transactions?

The Form 4 lists post-transaction beneficial ownership amounts of 363,497 and 358,967 shares in the non-derivative table lines as disclosed.

Were any derivative securities reported on this Form 4 for LUNG?

No derivative securities are reported in Table II; the filing only shows non-derivative common stock transactions.

Who signed the Form 4 filing for the reporting person?

The Form 4 is signed by /s/ David Aaron Lehman, Attorney-in-Fact with a filing date of 09/03/2025.