MannKind (MNKD) awards performance RSUs and stock options to officer

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Form Type

Rhea-AI Filing Summary

MannKind Corp granted Chief People & Workplace Officer Stuart A. Tross new equity awards. He received 221,000 performance-based restricted stock units, each representing the right to one share of common stock. These units vest on January 15, 2029, with the payout from 0% to 300% of 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 217,000 stock options with a $2.44 exercise price, expiring on March 23, 2036. These options vest 25% on March 23, 2027, with the remaining 75% vesting in equal quarterly installments over four years.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Tross Stuart A

Role Chief People & Workpl 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.

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^*

Tross Stuart A

(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 People & Workpl 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/ Stuart A. Tross	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) grant to Stuart A. Tross?

MannKind granted Stuart A. Tross 221,000 performance-based restricted stock units and 217,000 employee stock options. Both awards relate to MannKind common stock and form part of his equity-based compensation package as Chief People & Workplace Officer.

How do the MannKind (MNKD) performance RSUs for Stuart Tross vest?

The 221,000 performance RSUs vest on January 15, 2029, with payout from 0% to 300% of target. The percentage depends on MannKind’s total shareholder return versus the Russell 3000 Pharmaceutical & Biotechnology Index between April 1, 2026 and December 31, 2028.

What is the exercise price and term of Stuart Tross’s MannKind (MNKD) stock options?

Stuart Tross’s 217,000 MannKind stock options have a $2.44 exercise price and expire on March 23, 2036. This gives him a long-dated opportunity to purchase MannKind common shares at that fixed price if vesting and exercise conditions are met.

What is the vesting schedule for the MannKind (MNKD) stock options granted to Stuart Tross?

The stock options vest 25% on March 23, 2027, with the remaining 75% vesting in 1/16th installments quarterly. This creates a gradual vesting schedule over several years, encouraging longer-term retention and alignment with MannKind’s performance.

How is MannKind (MNKD) performance measured for Stuart Tross’s RSUs?

Performance is measured using MannKind’s total shareholder return versus the Russell 3000 Pharmaceutical & Biotechnology Index. The period runs from April 1, 2026 through December 31, 2028, with higher percentile rankings yielding up to 300% of the target RSU payout.