MannKind (MNKD) CEO vests 350,260 shares, withholds stock for taxes
Rhea-AI Filing Summary
MannKind chief executive Michael Castagna received 350,260 shares of common stock on July 15, 2026 from a performance-based restricted stock unit award that vested at 83% of its 422,000-share target, with 71,740 shares forfeited. To satisfy tax and exercise obligations, 363,200 shares were delivered or withheld at $4.09 per share. Following these transactions, he directly owns 2,796,979 shares of MannKind common stock, including 4,409 shares acquired under the Employee Stock Purchase Plan on June 30, 2026.
Positive
- None.
Negative
- None.
Insider Trade Summary
350,260 shares exercised/converted
Mixed
6 txns
Insider
Castagna Michael
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Restricted Stock Unit | 350,260 | $0.00 | -- |
| Exercise | Common Stock, $0.01 Par Value | 350,260 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.01 Par Value | 192,819 | $4.09 | $789K |
| Tax Withholding | Common Stock, $0.01 Par Value | 47,481 | $4.09 | $194K |
| Tax Withholding | Common Stock, $0.01 Par Value | 63,996 | $4.09 | $262K |
| Tax Withholding | Common Stock, $0.01 Par Value | 58,904 | $4.09 | $241K |
Holdings After Transaction:
Performance Restricted Stock Unit — 0 shares (Direct);
Common Stock, $0.01 Par Value — 2,796,979 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 350,260 shares. The acquisition of 422,000 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 71,740 shares were forfeited in accordance with the performance vesting criteria. Includes 4,409 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
Performance RSU target: 422,000 shares
Performance RSUs vested: 350,260 shares
Forfeited RSUs: 71,740 shares
+5 more
8 metrics
Performance RSU target
422,000 shares
Shares subject to previously reported performance-based restricted stock unit award granted May 25, 2023
Performance RSUs vested
350,260 shares
Shares delivered to Michael Castagna upon performance vesting on July 15, 2026
Forfeited RSUs
71,740 shares
Portion of the performance RSU award forfeited under the vesting criteria
Tax-withholding dispositions
363,200 shares
Shares delivered or withheld to satisfy tax and exercise obligations related to vesting
Tax-withholding price
$4.09 per share
Price applied to MannKind common stock withheld or delivered for tax and exercise obligations
Direct holdings after transactions
2,796,979 shares
Common shares directly owned by Michael Castagna following the July 15, 2026 transactions
ESPP shares in holdings
4,409 shares
Shares acquired under the Employee Stock Purchase Plan on June 30, 2026 included in direct holdings
TSR percentile vs index
41.5th percentile
MannKind total shareholder return vs Russell 3000 Pharmaceutical & Biotechnology Index for performance period
Key Terms
Performance Restricted Stock Unit, total shareholder return, Employee Stock Purchase Plan, Rule 16b-3, +1 more
5 terms
Performance Restricted Stock Unit financial
"Security title "Performance Restricted Stock Unit" for the derivative award"
Employee Stock Purchase Plan financial
"Includes 4,409 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
"security issued in accordance with Rule 16b-3 incident to the vesting"
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 to the Russell 3000 Pharmaceutical & Biotechnology Index over the same period"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did MannKind (MNKD) CEO Michael Castagna report on July 15, 2026?
Michael Castagna reported vesting of 350,260 shares from a performance-based restricted stock unit award and related tax-withholding dispositions. The vesting followed achievement of defined performance objectives and included settlement of the underlying restricted stock units into MannKind common shares.
How many MannKind (MNKD) performance RSUs vested for the CEO and at what level versus target?
Castagna received 350,260 shares upon vesting of a performance RSU award originally covering 422,000 shares. The performance objective was achieved at 83% of target, leading to delivery of these shares and forfeiture of the remaining 71,740 shares under the award terms.
What performance conditions triggered the MannKind (MNKD) CEO’s performance RSU vesting?
The award vested after MannKind’s stock met two conditions, including a total shareholder return at the 41.5th percentile of the Russell 3000 Pharmaceutical & Biotechnology Index. The company’s June 30, 2026 closing price also had to be at least its May 25, 2023 closing price.