Lexicon (NASDAQ: LXRX) SVP exercises RSUs and withholds shares for taxes

Rhea-AI Filing Summary

LEXICON PHARMACEUTICALS SVP and General Counsel Brian T. Crum reported multiple exercises of restricted stock units into common stock on February 28, 2026. These were non-cash conversions at $0.00 per share, increasing his directly held common shares. The company also withheld 105,019 common shares at $1.47 per share to cover tax obligations related to the equity awards.

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^*

Crum Brian T

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, General Counsel & Secr.

3. Date of Earliest Transaction (Month/Day/Year)
02/28/2026

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
Common Stock	02/28/2026		M		33,457	A	(1)	363,658	D
Common Stock	02/28/2026		M		69,386	A	(1)	330,201	D
Common Stock	02/28/2026		M		170,163	A	(1)	533,821	D
Common Stock	02/28/2026		F(2)		105,019	D	$1.47	428,802	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
Restricted Stock Units	(1)	02/28/2026		M			69,386	(3)	(3)	Common Stock	69,386	(1)	69,387	D
Restricted Stock Units	(1)	02/28/2026		M			33,457	(3)	(3)	Common Stock	33,457	(1)	0	D
Restricted Stock Units	(1)	02/28/2026		M			170,163	(3)	(3)	Common Stock	170,163	(1)	340,327	D

Explanation of Responses:

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

2. Withholding of a portion of issued shares by the Company in satisfaction of shareholder's tax withholding obligations with respect thereto.

3. 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.

	/s/ Brian T. Crum	03/03/2026
	** 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).
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 insider transactions did LXRX executive Brian T. Crum report?

Brian T. Crum reported several exercises of restricted stock units into common stock on February 28, 2026. These derivative exercises converted RSUs at $0.00 per share into directly held common shares, reflecting equity award vesting rather than open-market purchases.

Were the Lexicon (LXRX) transactions open-market buys or sells?

The transactions were not open-market buys or sells. They were exercises of restricted stock units into common stock at $0.00 per share, plus a share disposition labeled as tax withholding, where the company withheld shares to satisfy Crum’s tax obligations.

How many LXRX insider transactions were acquisitions versus dispositions?

The Form 4 summarizes six acquisition-type transactions and one disposition. The acquisitions reflect derivative exercises or conversions of restricted stock units into common stock, while the single disposition involved shares withheld by the company to cover tax liabilities tied to those equity awards.

What does the tax withholding transaction mean for LXRX shares?

The tax withholding transaction shows 105,019 common shares at $1.47 per share were withheld by Lexicon. This reduced the number of shares Crum retained after his restricted stock units vested, and represents payment of tax obligations using shares instead of cash.

Does the LXRX Form 4 indicate changes in Brian T. Crum’s ownership type?

The filing indicates Crum’s ownership remains direct for all reported securities. Both the restricted stock units and the resulting common stock are listed as directly owned, with no footnotes stating that voting or investment authority is held by another entity or person.

What are restricted stock units in the context of LXRX’s Form 4?

Each restricted stock unit represents a contingent right to receive one share of Lexicon common stock. According to the footnotes, these RSUs vest in three equal annual installments on February 28 of each of the three years following the year in which they were granted.