MannKind (MNKD) CMO receives new RSU and stock option awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

MannKind Corporation’s Chief Medical Officer, Ajay Ahuja, reported new equity awards. He received 221,000 performance-based restricted stock units, each representing a right to one share of common stock. These units vest on January 15, 2029, with the actual payout ranging from 0% to 300% of the target based on MannKind’s total shareholder return versus the Russell 3000 Pharmaceutical & Biotechnology Index from April 1, 2026 through December 31, 2028.

He was also granted options on 217,000 shares of common stock at an exercise price of $2.44 per share. These options vest 25% on March 23, 2027, with the remaining 75% vesting in 1/16th increments quarterly, and expire on March 23, 2036. All positions are held directly and reflect compensation awards rather than market purchases or sales.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ahuja Ajay

Role Chief Medical Officer

Type	Security	Shares	Price	Value
Grant/Award	Performance Restricted Stock Unit	221,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	217,000	$0.00	--

Holdings After Transaction: Performance Restricted Stock Unit — 221,000 shares (Direct); Employee Stock Option (right to buy) — 217,000 shares (Direct)

Footnotes (1)

Each restricted stock unit represents a contingent right to receive one share of MNKD common stock. The performance-based restricted stock unit will vest on January 15, 2029. The number of shares delivered on the vesting date, as a percentage of the target specified [in Box 5 above], is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from April 1, 2026 until December 31, 2028 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the measurement period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% percent of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above. 25% vesting on March 23, 2027 and thereafter 1/16th quarterly.

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Form 4 Insider Transactions: What Each Field Means →

03/25/2026 - 09:30 PM

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^*

Ahuja Ajay

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Restricted Stock Unit	⁽¹⁾	03/23/2026		A		221,000		⁽²⁾	⁽²⁾	Common Stock, $0.01 Par Value	221,000	$0	221,000	D
Employee Stock Option (right to buy)	$2.44	03/23/2026		A		217,000		03/23/2027⁽³⁾	03/23/2036	Common Stock, $0.01 Par Value	217,000	$0	217,000	D

Explanation of Responses:

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

2. The performance-based restricted stock unit will vest on January 15, 2029. The number of shares delivered on the vesting date, as a percentage of the target specified [in Box 5 above], is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from April 1, 2026 until December 31, 2028 relative to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the measurement period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% percent of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above.

3. 25% vesting on March 23, 2027 and thereafter 1/16th quarterly.

	/s/ Ajay Ahuja	03/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did MannKind (MNKD) Chief Medical Officer Ajay Ahuja receive in this Form 4?

Ajay Ahuja received 221,000 performance-based restricted stock units and options on 217,000 shares. Both awards relate to MannKind common stock and represent compensation grants, not open-market purchases or sales, with multi-year vesting and performance conditions.

How do Ajay Ahuja’s performance-based restricted stock units from MannKind (MNKD) vest?

The performance-based restricted stock units vest on January 15, 2029, with payout from 0% to 300% of target. The payout depends on MannKind’s total shareholder return from April 1, 2026 to December 31, 2028 versus the Russell 3000 Pharmaceutical & Biotechnology Index.

What determines the payout level for MannKind (MNKD) CMO’s performance RSUs?

Payout is tied to MannKind’s total shareholder return percentile versus the Russell 3000 Pharmaceutical & Biotechnology Index. Below the 25th percentile pays 0%, the 50th pays 100% of target, and the 90th percentile or higher pays a 300% maximum, with interpolation between levels.

What are the key terms of the stock options granted to MannKind (MNKD) CMO Ajay Ahuja?

He received options on 217,000 shares of common stock at a $2.44 exercise price. The options vest 25% on March 23, 2027 and then 1/16th quarterly, and they expire on March 23, 2036, reflecting long-term incentive compensation.

Are there any stock purchases or sales by MannKind (MNKD) Chief Medical Officer in this Form 4?

No open-market stock purchases or sales are reported. The filing shows two acquisitions coded as awards: performance-based restricted stock units and employee stock options, both granted as compensation rather than discretionary market transactions.