LUNG Form 4: Geoffrey Beran Sells Shares to Cover RSU Taxes

Rhea-AI Filing Summary

Pulmonx Corporation (LUNG) reporting person Geoffrey Beran, Chief Commercial Officer, disclosed multiple share dispositions on 09/02/2025. The Form 4 shows four separate sales of common stock at $1.60 per share to satisfy tax withholding tied to vested restricted stock units granted on March 1, 2022; March 1, 2023; March 1, 2024; and March 3, 2025. The reported quantities sold were 707, 1,799, 1,575, and 2,462 shares respectively, leaving beneficial ownership reported after each sale of 385,624, 383,825, 382,250, and 379,788 shares. The filing is signed by an attorney-in-fact on 09/03/2025.

Positive

• Disclosures appear complete for each RSU-related sale with grant years identified and post-transaction beneficial ownership reported
• Transactions were executed to cover tax withholding, indicating routine administrative sales rather than opportunistic open-market disposals

Negative

• Reported direct holdings declined from 385,624 to 379,788 shares after the four withholding sales
• Sales occurred at a low price of $1.60 per share, which may reflect a depressed trading price at the time (no market context provided in filing)

Insights

Financial Analyst

TL;DR: Insider sales were routine tax-withholding dispositions tied to RSU vesting; they reduced reported direct holdings but do not indicate open-market trading intent.

The Form 4 discloses four small, contemporaneous disposals at $1.60 per share to cover tax obligations from vested RSUs spanning 2022–2025 grants. Quantities are modest relative to reported post-transaction holdings (remaining ~380k shares). These transactions are administrative in nature and consistent with common share-withholding practices; there is no indicated change in control or additional compensation arrangements disclosed in this filing.

Corporate Governance Expert

TL;DR: Transactions reflect standard compliance with withholding on RSU vesting; disclosure appears timely and properly documented.

The filer identified the sales as tax-withholding actions tied to specified RSU grant dates, and included transaction codes and post-transaction ownership levels. The Form 4 shows proper use of explanatory footnotes for each RSU grant year and a signature via attorney-in-fact. From a governance perspective, the filing meets Section 16 reporting expectations and flags no unusual derivative or separate sales activity.

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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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^*

Rose Geoffrey Beran

(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 COMMERCIAL OFFICER

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)		707	D	$1.6	385,624	D
Common Stock	09/02/2025		S(2)		1,799	D	$1.6	383,825	D
Common Stock	09/02/2025		S(3)		1,575	D	$1.6	382,250	D
Common Stock	09/02/2025		S(4)		2,462	D	$1.6	379,788	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 1, 2022.

2. These shares were sold by the reporting person to cover tax withholding obligations in connection with the vesting of the RSUs granted on March 1, 2023.

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 1, 2024.

4. 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.

FAQ

What did Pulmonx (LUNG) insider Geoffrey Beran report on Form 4?

The Form 4 reports four sales on 09/02/2025 of 707, 1,799, 1,575, and 2,462 shares at $1.60 per share to cover tax withholding from vested RSUs.

Why were the shares sold by the reporting person?

The filing states the shares were sold to satisfy tax withholding obligations arising from the vesting of RSUs granted in 2022, 2023, 2024, and 2025.

How many shares does Geoffrey Beran report owning after these transactions?

Post-transaction beneficial ownership is reported as 385,624, 383,825, 382,250, and 379,788 shares after each respective sale.

Were any derivative securities reported in this Form 4?

No derivative securities were reported in Table II; only non-derivative common stock dispositions are disclosed.

When was the Form 4 signed and filed?

The filing includes a signature by an attorney-in-fact dated 09/03/2025.