Lexicon (LXRX) grants major RSU and option awards to CMO

Rhea-AI Filing Summary

Lexicon Pharmaceuticals executive Craig B. Granowitz, SVP and Chief Medical Officer, reported new equity awards. On February 12, 2026, he received 346,610 restricted stock units, each representing one share of common stock, and a stock option for 519,920 shares with a $1.37 exercise price.

The restricted stock units vest in three equal installments on February 28 of each of the three years following the grant year. The option vests 25% on the first anniversary of grant, with the remaining 75% vesting in equal monthly installments over the next 36 months, conditioned on continued service.

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^*

Granowitz Craig B

(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, Chief Medical 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		346,610		(2)	(2)	Common Stock	346,610	$0	346,610	D
Stock Option (Right to Buy)	$1.37	02/12/2026		A		519,920		(3)	02/12/2036	Common Stock	519,920	$0	519,920	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/ Craig B. Granowitz, M.D., 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).
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 equity awards did LXRX grant to its Chief Medical Officer?

Lexicon Pharmaceuticals granted its SVP, Chief Medical Officer 346,610 restricted stock units and a stock option for 519,920 shares at a $1.37 exercise price. These awards were granted on February 12, 2026 and are subject to multi-year vesting schedules tied to continued service.

How do the new restricted stock units for LXRX's CMO vest?

The 346,610 restricted stock units vest in three equal installments, with 1/3 of the units vesting on February 28 of each of the three years following the year of grant. Each vested unit entitles the holder to receive one share of Lexicon common stock.

What are the terms of the new stock option granted by LXRX?

Lexicon granted a stock option covering 519,920 shares of common stock at a $1.37 exercise price. The option vests 25% on the first anniversary of the February 12, 2026 grant date, then 1/48th of the shares vest monthly thereafter, subject to continued service.

Who received the equity awards reported for LXRX on February 12, 2026?

The equity awards were granted to Craig B. Granowitz, Lexicon Pharmaceuticals’ Senior Vice President and Chief Medical Officer. He reported direct beneficial ownership of both the 346,610 restricted stock units and the 519,920-share stock option following the February 12, 2026 grants.

Does each LXRX restricted stock unit equal one common share?

Yes. Each of the 346,610 restricted stock units represents a contingent right to receive one share of Lexicon Pharmaceuticals common stock. Actual share delivery depends on vesting, which occurs in three equal annual installments starting the February 28 after the grant year.

Are the LXRX equity awards to the CMO direct or indirect holdings?

Both the restricted stock units and the stock option are reported as directly held by the executive. The Form 4 identifies the ownership form as direct, with no indication of indirect ownership through entities such as trusts, partnerships, or family investment vehicles.