Lexicon (NASDAQ: LXRX) CEO awarded 862K RSUs and 1.29M options

Rhea-AI Filing Summary

Lexicon Pharmaceuticals’ Chief Executive Officer and director Michael Exton reported equity awards dated February 12, 2026. He received 862,440 restricted stock units, each representing a right to one share of common stock. These restricted stock units vest in three equal installments on February 28 of each of the three years following the grant year.

He was also granted a stock option for 1,293,670 shares of common stock at an exercise price of $1.37 per share. The option vests 25% on the first anniversary of the grant date and then 1/48th of the shares each month of continued service thereafter.

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^*

Exton Michael

(Last) (First) (Middle)

2445 TECHNOLOGY FOREST BLVD

11TH FLOOR

(Street)

THE WOODLANDS TX 77381

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LEXICON PHARMACEUTICALS, INC. [ LXRX ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/12/2026

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

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
Restricted Stock Units	(1)	02/12/2026		A		862,440		(2)	(2)	Common Stock	862,440	$0	862,440	D
Stock Option (Right to Buy)	$1.37	02/12/2026		A		1,293,670		(3)	02/12/2036	Common Stock	1,293,670	$0	1,293,670	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock.

2. Restricted stock units vest with respect to 1/3 of the shares subject to the restricted stock units on February 28 of each of the three years following the year of grant.

3. Option vests with respect to 25% of the shares subject to the option on the first anniversary of grant, and vests 1/48th per month for each month of service thereafter.

	/s/ Michael Exton, Ph.D.	02/17/2026
	** 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).
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FAQ

What insider transaction did LXRX CEO Michael Exton report on this Form 4?

Michael Exton reported equity awards granted on February 12, 2026. He received restricted stock units and a stock option, both tied to Lexicon Pharmaceuticals common stock, as part of his compensation, rather than buying or selling shares on the open market.

How many restricted stock units did the LXRX CEO receive in this filing?

The CEO received 862,440 restricted stock units. Each unit represents a contingent right to receive one share of Lexicon Pharmaceuticals common stock, subject to the vesting schedule described in the filing and his continued service with the company over time.

What is the vesting schedule for Michael Exton’s restricted stock units at LXRX?

The restricted stock units vest in three equal installments. One-third of the shares vests on February 28 of each of the three years after the year of grant, aligning the award with multi‑year service and performance at Lexicon Pharmaceuticals.

What stock option grant did the LXRX CEO receive and at what exercise price?

Michael Exton received a stock option covering 1,293,670 shares of Lexicon Pharmaceuticals common stock. The option carries an exercise price of $1.37 per share, meaning he can buy shares at that price once they vest and subject to plan terms.

How do Michael Exton’s new stock options at LXRX vest over time?

The option vests 25% on the first anniversary of the grant date. The remaining 75% then vests in equal monthly installments of 1/48th of the total shares for each month of continued service after that first anniversary.

Are the LXRX CEO’s reported awards direct or indirect holdings?

Both the restricted stock units and the stock option are reported as direct holdings. The filing does not indicate ownership through a separate entity, and the nature of ownership field is left blank, consistent with direct beneficial ownership by Michael Exton.