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MannKind Corp (MNKD) director vests RSUs and sells 52,485 shares

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

MannKind Corp director Steven B. Binder reported multiple equity transactions. On July 15, 2026, a performance RSU award granted in 2023 vested at 83% of target, delivering 93,790 shares and forfeiting 19,210. Shares totaling 24,395 were withheld to cover taxes. On July 17, 2026, he sold 52,485 shares of common stock at a weighted average price of $4.06, in open-market transactions under a Rule 10b5-1 plan established December 2, 2025. After these transactions, he directly holds 824,918 shares of MannKind common stock.

Positive

  • None.

Negative

  • None.
Insider Binder Steven B.
Role Director
Sold 52,485 shs ($213K)
Approx. gross sale proceeds $213K
Type Security Shares Price Value
Sale Common Stock, $0.01 Par Value F4, F3 52,485 $4.06 $213K
Exercise Performance Restricted Stock Unit F5, F1 93,790 $0.00 $0.00
Exercise Common Stock, $0.01 Par Value F1 93,790 $0.00 $0.00
Exercise Price or Tax Liability Common Stock, $0.01 Par Value F2 15,688 $4.09 $64K
Exercise Price or Tax Liability Common Stock, $0.01 Par Value F2 4,073 $4.09 $17K
Exercise Price or Tax Liability Common Stock, $0.01 Par Value F2 4,634 $4.09 $19K
Holdings After Transaction: Performance Restricted Stock Unit — 0 shares (Direct); Common Stock, $0.01 Par Value — 824,918 shares (Direct)
Footnotes (5)
  1. F1. 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.
  2. F2. 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.
  3. F3. Transaction occurred pursuant to Rule 10B5-1 Plan established December 2, 2025.
  4. F4. The weighted average sales price of the reported transaction was $4.06 based on a range of prices between $3.98 and $4.13. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.
  5. F5. Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
Shares sold 52,485 shares Common stock sale on July 17, 2026 in open-market transactions
Weighted average sale price $4.06 per share Based on a price range between $3.98 and $4.13 for the July 17, 2026 sale
Shares delivered on vesting 93,790 shares Performance RSU award vested on July 15, 2026 at 83% of target
Original performance RSU target 113,000 shares Performance award granted May 25, 2023; 93,790 vested and 19,210 forfeited
Forfeited RSU shares 19,210 shares Unvested portion forfeited under performance criteria of the RSU award
Tax withholding shares 24,395 shares Shares withheld on July 15, 2026 to satisfy tax obligations on vesting
Post-transaction holdings 824,918 shares Direct MannKind common stock held by Steven B. Binder after July 17, 2026 sale
TSR performance percentile 41.5th percentile MannKind total shareholder return vs Russell 3000 Pharmaceutical & Biotechnology Index
Rule 10B5-1 Plan regulatory
"Transaction occurred pursuant to Rule 10B5-1 Plan established December 2, 2025."
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
Performance Restricted Stock Unit financial
"security_title: Performance Restricted Stock Unit"
total shareholder return (TSR) financial
"MannKind's total shareholder return (TSR) over the period from May 23, 2023 to June 30, 2026"
Total shareholder return (TSR) measures how much an investment in a company's stock has grown over a specific period by combining the change in the share price and all dividends paid, expressed as a percentage. Think of it like tracking the total balance of a savings jar that increases both from added cash (dividends) and a rising sticker price on the jar (share price); investors use TSR to compare how well different stocks or managers deliver real, money-in-hand returns.
Russell 3000 Pharmaceutical & Biotechnology Index financial
"TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period."
withholding securities financial
"Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt"

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FAQ

What did MannKind (MNKD) director Steven B. Binder report in this Form 4?
Steven B. Binder reported vesting of performance RSUs, related tax withholding, and an open-market sale of MannKind shares. The filing details 93,790 shares delivered, 24,395 shares withheld for taxes, and a sale of 52,485 shares, along with his resulting direct holdings.

How many MannKind (MNKD) shares did Steven B. Binder sell and at what price?
He sold 52,485 shares of MannKind common stock at a weighted average price of $4.06. Footnote disclosure states trades occurred in a price range between $3.98 and $4.13, with full breakdowns available upon request to the issuer or SEC staff.

What performance conditions led to Steven B. Binder’s RSU vesting at MannKind (MNKD)?
The award vested when MannKind’s stock June 30, 2026 closing price was at least the May 25, 2023 price and total shareholder return reached the 41.5th percentile of the Russell 3000 Pharmaceutical & Biotechnology Index, resulting in 83% of target vesting.

How many MannKind (MNKD) shares did Steven B. Binder receive and forfeit from the performance RSUs?
Binder received 93,790 shares upon vesting of a 2023 performance RSU grant and 19,210 shares were forfeited. The original performance award covered 113,000 shares, with vesting determined by stock price and relative total shareholder return metrics over a defined period.

Were Steven B. Binder’s MannKind (MNKD) share sales under a Rule 10b5-1 plan?
Yes. The reported 52,485-share sale on July 17, 2026 occurred under a Rule 10b5-1 trading plan established on December 2, 2025. Such pre-arranged plans automate trading based on preset instructions rather than discretionary timing decisions by the insider.

What are Steven B. Binder’s MannKind (MNKD) holdings after these transactions?
After the RSU vesting, tax withholding, and subsequent share sale, Steven B. Binder directly holds 824,918 shares of MannKind common stock. This post-transaction balance is explicitly reported in the non-derivative holdings column of the Form 4 for his common stock position.
SEC Form 4
FORM 4UNITED 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).
X
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*
Binder Steven B.
(Last)(First)(Middle)
1 CASPER STREET
(Street)
DANBURY CONNECTICUT 06810
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
MANNKIND CORP [ MNKD ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/15/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock, $0.01 Par Value07/15/2026M(1)93,790A$0901,798(1)D
Common Stock, $0.01 Par Value07/15/2026F(2)15,688D$4.09886,110D
Common Stock, $0.01 Par Value07/15/2026F(2)4,073D$4.09882,037D
Common Stock, $0.01 Par Value07/15/2026F(2)4,634D$4.09877,403D
Common Stock, $0.01 Par Value07/17/2026S52,485D(3)$4.06(4)824,918D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Performance Restricted Stock Unit(5)07/15/2026M(1)93,790 (1) (1)Common Stock, $0.01 Par Value93,790$00(1)D
Explanation of Responses:
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.
2. 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.
3. Transaction occurred pursuant to Rule 10B5-1 Plan established December 2, 2025.
4. The weighted average sales price of the reported transaction was $4.06 based on a range of prices between $3.98 and $4.13. Upon request by the SEC staff, the Issuer, or any security holder of the Issuer, full information regarding the number of shares sold at each separate price will be provided.
5. Each restricted stock unit represents a contingent right to receive one share of MNKD common stock.
/s/ Steven B. Binder07/17/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR