MannKind Corp (MNKD) executive vests 93,790 shares, with 65,808 withheld for taxes
Rhea-AI Filing Summary
MannKind Corp’s Chief People & Workplace Officer, Stuart A. Tross, reported a set of equity compensation events dated July 15, 2026. A previously granted performance restricted stock unit award vested upon meeting pre-set goals, delivering 93,790 shares of common stock, representing 83% of the original 113,000-share target; the remaining 19,210 shares were forfeited under the performance criteria.
To cover tax obligations related to this vesting, a total of 65,808 shares of common stock were withheld or delivered at $4.09 per share in several transactions coded “F.” After these transactions, Tross directly held 1,123,950 shares of MannKind common stock, which includes 4,038 shares acquired under the company’s Employee Stock Purchase Plan on June 30, 2026. The vesting performance conditions referenced MannKind’s share price and a total shareholder return at the 41.5th percentile versus the Russell 3000 Pharmaceutical & Biotechnology Index.
Positive
- None.
Negative
- None.
Insider Trade Summary
93,790 shares exercised/converted
Mixed
6 txns
Insider
Tross Stuart A
Role
Chief People & Workpl Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Unit | 93,790 | $0.00 | -- |
| Exercise | Common Stock, $0.01 Par Value | 93,790 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.01 Par Value | 33,652 | $4.09 | $138K |
| Tax Withholding | Common Stock, $0.01 Par Value | 8,253 | $4.09 | $34K |
| Tax Withholding | Common Stock, $0.01 Par Value | 11,572 | $4.09 | $47K |
| Tax Withholding | Common Stock, $0.01 Par Value | 12,331 | $4.09 | $50K |
Holdings After Transaction:
Performance Restricted Stock Unit — 0 shares (Direct);
Common Stock, $0.01 Par Value — 1,123,950 shares (Direct)
Footnotes (1)
- A previously reported restricted stock unit award granted on May 25, 2023 vested on July 15, 2026 upon the achievement of performance objectives established by MannKind's compensation committee at the time of the approval of the award. Specifically, (i) the closing price of MannKind's common stock on June 30, 2026 was not less than the closing price on May 25, 2023 and (ii) MannKind's total shareholder return (TSR) over the period from May 23, 2023 to June 30, 2026 was at the 41.5th percentile of the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period. As a result, the performance objective was achieved at 83% of target, resulting in a total share delivery of 93,790 shares. The acquisition of 113,000 shares pursuant to the restricted stock award was reported in Table II of the Form 4 filed by the Reporting Person on May 26, 2023. The remaining 19,210 shares were forfeited in accordance with the performance vesting criteria. Includes 4,038 shares acquired under the Issuer's Employee Stock Purchase Plan on June 30, 2026. Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3 incident to the vesting of previously reported restricted stock units. Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
Key Figures
Shares delivered on vesting: 93,790 shares
Tax-withholding shares: 65,808 shares
Post-transaction holdings: 1,123,950 shares
+5 more
8 metrics
Shares delivered on vesting
93,790 shares
Performance restricted stock unit award delivering common stock on July 15, 2026
Tax-withholding shares
65,808 shares
Shares withheld or delivered to cover tax obligations at $4.09 per share
Post-transaction holdings
1,123,950 shares
Direct MannKind common stock held by Stuart A. Tross after transactions
Performance vesting level
83% of target
Portion of 113,000 performance RSUs that vested, with remaining units forfeited
Forfeited performance RSUs
19,210 units
Unvested portion of the original 113,000-unit performance award forfeited
Total shareholder return percentile
41.5th percentile
MannKind TSR vs. Russell 3000 Pharmaceutical & Biotechnology Index over measurement period
ESPP shares acquired
4,038 shares
Shares acquired under MannKind’s Employee Stock Purchase Plan on June 30, 2026
Withholding price
$4.09 per share
Price applied to common stock used for tax-withholding dispositions
Key Terms
Performance Restricted Stock Unit, total shareholder return (TSR), Employee Stock Purchase Plan, Rule 16b-3, +1 more
5 terms
Performance Restricted Stock Unit financial
"The security title includes "Performance Restricted Stock Unit" for the derivative award."
Employee Stock Purchase Plan financial
"Includes 4,038 shares acquired under the Issuer's Employee Stock Purchase Plan."
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
Rule 16b-3 regulatory
"Securities withheld incident to vesting of units issued in accordance with Rule 16b-3."
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
Russell 3000 Pharmaceutical & Biotechnology Index financial
"TSR compared against the Russell 3000 Pharmaceutical & Biotechnology Index."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did MannKind (MNKD) executive Stuart A. Tross report in this Form 4?
Stuart A. Tross reported the vesting of a performance restricted stock unit award delivering 93,790 shares of MannKind common stock and related tax-withholding share dispositions. These events reflect equity compensation mechanics rather than open-market purchases or sales.
What performance conditions triggered the MannKind (MNKD) RSU vesting for Stuart A. Tross?
Vesting required MannKind’s June 30, 2026 closing stock price to be at least the May 25, 2023 price and total shareholder return at the 41.5th percentile versus the Russell 3000 Pharmaceutical & Biotechnology Index, resulting in 83% of target vesting.
What happened to the unvested portion of the MannKind (MNKD) performance RSUs for Tross?
Of the original 113,000 performance restricted stock units granted, 19,210 units were forfeited. The award vested at 83% of target, delivering 93,790 shares of MannKind common stock, with each unit representing a right to one share.