[Form 4] MANNKIND CORP Insider Trading Activity

Rhea-AI Filing Summary

Stuart A. Tross, Chief People & Workpl Officer at MannKind Corp (MNKD), reported the sale of 47,000 shares on 09/16/2025 under a Rule 10b5-1 trading plan established June 17, 2025. The weighted average sales price was $5.34 per share (price range $5.33–$5.39). After the reported sale, Mr. Tross beneficially owned 1,032,013 shares. The filing is a routine Section 16 Form 4 disclosing an insider sale executed pursuant to a pre-established trading plan.

Insights

Securities Analyst

TL;DR: Insider sold 47,000 shares under a 10b5-1 plan; still holds over 1.03M shares, indicating ongoing meaningful ownership.

The transaction is a disclosed, rule-compliant insider sale rather than an ad hoc disposition. The use of a Rule 10b5-1 plan (established June 17, 2025) reduces concerns about contemporaneous material nonpublic information influencing the trade. The weighted average sale price was $5.34, with the total post-transaction beneficial ownership at 1,032,013 shares, which remains a significant stake relative to typical insider positions in small-cap issuers. For investors, this is a routine liquidity event rather than clear directional signal about company fundamentals.

Corporate Governance Expert

TL;DR: Properly documented 10b5-1 sale demonstrates adherence to governance procedures; transaction disclosure is complete.

The filing includes the required details: transaction date, number of shares sold, price range, and the 10b5-1 plan establishment date. The signer manually executed the Form 4. From a governance standpoint, the clear linkage to a pre-established plan and the precise pricing range support compliance with insider trading rules. There is no indication in the filing of other derivative transactions or amendments.

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).

1. Name and Address of Reporting Person^*

Tross Stuart A

(Last) (First) (Middle)

1 CASPER STREET

(Street)

DANBURY CT 06810

(City) (State) (Zip)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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
Common Stock, $0.01 Par Value	09/16/2025		S(1)		47,000	D	$5.34(2)	1,032,013	D

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

Explanation of Responses:

1. Transaction occured pursuant to Rule 10B5-1 Plan established June 17, 2025.

2. The weighted average sales price of the reported transaction was $5.34 based on a range of prices between $5.33 and $5.39. 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.

	/s/ Stuart A. Tross	09/17/2025
	** 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 did Stuart A. Tross report on Form 4 for MNKD?

The filing reports a sale of 47,000 shares on 09/16/2025 under a Rule 10b5-1 plan and shows 1,032,013 shares beneficially owned after the transaction.

Was the MNKD insider transaction part of a pre-established trading plan?

Yes. The sale occurred pursuant to a Rule 10b5-1 plan established on June 17, 2025.

At what price were the MNKD shares sold in the reported transaction?

The weighted average sales price was $5.34, with a reported price range of $5.33 to $5.39.

How much MNKD stock does the reporting person own after the sale?

After the reported sale, the reporting person beneficially owned 1,032,013 shares.

Does the Form 4 indicate any derivative transactions for MNKD by the reporting person?

No. Table II is blank and the filing discloses only the non-derivative sale in Table I.